The first estate agent graduates are going to be kept plenty busy

“About time” was my first thought when I saw the headline. The Telegraph just did a piece on a university offering Britain’s?first estate agent degree. The course focuses on teaching students how to sell and let homes, with specific modules on surveying, inspections, and measurements.

They’ll also learn about some of the basics of business strategies and economics. This includes “land and property economics”, “business informatics” and – most importantly – “principles of marketing”.

Now, I’m far from snobbish about this. So long as the person involved can get the job done and works hard, I’m not bothered about whether they have a degree or not – in fact I am a massive advocate for apprenticeships and that is actually where I started out. But when it comes to houses that cost several hundreds of thousands of pounds, I want the staff behind it to be as qualified as possible – however they get there.

Also, looking at what could be on the horizon, I’m glad to see efforts to boost the market’s credentials. Especially where the youngsters are concerned.

Millennials just won’t give up. Despite being one of the?worst off generations ever, the majority of us are still holding out hope for homeownership. Some?69%?of millennials hope to own their own property in the next 5-10 years.??

They’ll need to get on it though. Gen Z are hot on their heels.

The TikTok generation is thinking outside the box with their property plans. But property plans are there, make no mistake.??

Gen Z is thinking, surprisingly, for the long term. A third of this demographic views property as a key retirement asset, over traditional pensions, according to?Standard Life. This marks a 15% increase when compared to Baby Boomers. This is a generational investment shift we’re witnessing in real-time.

In the present, youngsters are turning to “house hacking” to cover their mortgages, where they have managed to get on the ladder. House hacking basically involves generating extra cash from a property by any means necessary to cover the mortgage. Spare rooms are being rented out by live-in landlords. Young homeowners are realising, often by necessity, that they’ll need to work together to solve the housing issue.

It's amazing to witness this tenacity, given how bleak the news can be. This week alone,?Inflation?refused to budge downwards, and the UK officially fell into?recession. But pain is temporary. Quitting lasts forever.

Our young embody this. They’ve got to be feeling that their luck’s about to change. It has to. Surely a permacrisis isn’t actually permanent.

Well, they may be right. Millennials and Gen Z just need to hold out a little while longer. The “great wealth transfer” is around the corner. Within the next decade or two, ￡5.5 trillion is expected to be passed on from Baby Boomers to the younger generations.

Look at what they’re doing now in the property world with their very limited means. Imagine what they’ll be able to achieve with real wealth behind them.

I’m glad we’ve got a new generation of university-educated estate agents on the way. I’m betting they’re going to be kept plenty busy!