Photograph by Paul Myers
Laura Lindecker of Coldwell Banker and Jeff Eisenbaum of Alain Pinel are just two examples of the growing numbers of young people choosing to go into real estate early in their careers.
The face of real estate is growing younger
By Jean Newton
The typical Realtor profile is changing as more young people choose real estate as their first career. While newcomers to the real estate industry may not have years of experience under their belt, they are bringing fresh enthusiasm and a different perspective to the industry.
Defining the typical Realtor is difficult, although the National Association of Realtors conducted a survey last year of 40,000 randomly selected members to try to determine a profile. The survey found that the typical Realtor worked 43 hours a week, earned a gross personal income of $47,700, and was a 52-year-old married female.
The study also showed today's Realtors have twice as many years of experience in real estate than they had in the 1970s. In addition, nine out of 10 Realtors had completed at least some college courses, while 45 percent of those surveyed held a bachelor's degree.
"Honestly, I don't think there is such a thing as a 'typical' Realtor. Every imaginable type, age, color, race and gender get into this business," pointed out Dante Drummond, a Realtor with Coldwell Banker in Palo Alto.
In fact, the national survey conducted by the association does not zero in on the exact demographics of any specific location. As a distinct region, Silicon Valley often defies the norm and leads the way in developing new trends.
At Coldwell Banker in Los Gatos, manager Christopher Trapani has been interviewing approximately three or more new candidates per week for jobs in the real estate industry. The biggest difference he's noticed is that most potential new recruits have four-year college degrees.
"In the past, it wasn't as common to have a college degree. Many of the new recruits are coming right out of college and beginning a career in real estate as their first career. Others are transitioning from a past job, perhaps from the technology sector," Trapani said.
Trapani thinks two main factors are driving the influx of agents into the real estate business. First, the job market conditions have been challenging in the Bay Area, particularly in the technology sector. "Individuals are seeing real estate as a more consistent and good long-term profession with a high potential economic return," he said.
In addition, Trapani thinks the structure of the industry has changed and will continue to change as more acquisitions of smaller companies are made.
"In the old days, you were given a desk and a phone and there was not much structure or training. Now you have national, significant companies with complete training, technology, marketing, legal and business development departments," said Trapani. "An agent with a college degree, who in the past may have shied away from the business due to the lack of structure, is now feeling more comfortable in a more business-like environment. They are truly being given the chance to experience great success in one of the best businesses in the country."
As an example, Trampani cited one of his newer agents, Laura Lindecker, as the type of agent who is "not only very well-educated and sharp but has the technical and people skills to survive and thrive in the real estate world of today and tomorrow."
Lindecker, age 23, is one of the youngest agents in the business. She received a bachelor's degree in finance from San Jose State University, where she was selected as one of two valedictorians out of 8,000 students at her graduation in May 2000. Although she originally wanted to become a stockbroker, Lindecker chose a stint at Cisco Systems until she made the switch to real estate.
"I was actually inspired at the age of 16 by my manager Chris Trapani when my family moved to Monte Sereno, and he was our agent. I always thought it fit my style and personality to be a Realtor," said Lindecker, who describes herself as a people person. "In real estate you can see results. You work hard and it pays off. You can take ownership and use all your talents."
After serving as an assistant to one of the top producers in the company, she completed classes and took her real estate exam to become a full-fledged Realtor last November. She now works at Coldwell Banker in Los Gatos.
"Coldwell Banker provides training to make sure you are at the heartbeat of the market. I think buyers and sellers should take advantage of younger, newer agents because they know the latest and they have sustained energy," said Lindecker, whose goal is to become a top producer.
Jeff Eisenbaum, a Realtor with Alain Pinel in Los Gatos, shares Lindecker's philosophy. At the age of 32, he views the real estate industry as a lucrative alternative to high-tech. Holding a degree in managerial economics from Davis and an M.B.A. from Santa Clara University with a dual emphasis in finance and international business, Eisenbaum worked at both Advanced Micro Devices and Apple Computer before he turned to real estate as a career.
"Real estate offers tremendous opportunities for people. I chose real estate because I wanted something where the level of effort dictates the level of success. You have control over how you manage your business. You decide how to do customer service, marketing, sales and transactions. You get to control all facets of the business in addition to helping people make an informed decision when faced with the magnitude of all the decisions and emotions in a transaction."
Since he joined the real estate profession 1 1/2 years ago, Eisenbaum has become more involved in the industry. He was recently appointed to the Political Action Committee Board of Directors for the Silicon Valley Association of Realtors.
"To be good at this job you have to be committed to the job. You need to become involved and develop a network of people," said Eisenbaum, who is currently getting ready to take his broker's exam in an effort to learn more aspects of the industry. "I feel it's important to be a part of things that will shape the industry in the future."
Both Lindecker and Eisenbaum are off to a great start in a fast-paced industry that offers solid opportunities for motivated individuals.
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