Learn. Live. Lead. Life-long Learning and Real Estate Success.
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Transcript of Learn. Live. Lead. Life-long Learning and Real Estate Success.
Learn. Live. Lead. Life-long Learning
and Real Estate Success
Jessica LautzNovember 9, 2013
Firm Provides Training Programs
2013 Profile of Real Estate Firms
Yes, for staff only4%
Yes, for sales agents only
22%
Yes, for both staff and sales agents
36%
No, does not provide train-
ing38%
Training and Education Required by Firm
2013 Profile of Real Estate Firms
New Sales
AgentsExperienced Sales Agents Other Staff
Zero hours 20% 19% 48%1 to 10 12 24 2111 to 20 18 28 1421 to 40 25 20 1241 to 80 17 7 581 to 100 5 1 1100 or more hours 4 1 1Median (hours) 21 12 2
Training Resources Used
All
Firms
One offic
e
Two office
s
Three office
s
Four or more
officesPrivate education or training providers 61% 61% 63% 64% 68%Courses and training through the National Association of REALTORS® 51 54 45 40 44Fellow real estate professionals 48 46 54 58 64Franchise 24 19 38 42 50REALTOR® University 20 21 16 19 14Local college or university 11 12 8 11 9
2013 Profile of Real Estate Firms
Certifications and Designations in Real Estate
2013 Profile of Real Estate Firms
No em-ployees
with cer-tification(s) or des-ignation(s
)18%
1 to 10 percent
12%
11 to 20 percent
4%
21 to 50 percent22%
51 to 99 percent
14%
All em-ployees have a
designa-tion or certifi-cation30%
Firm’s Reimbursement Of Educational Activities
Full reimbursem
ent
Partial reimbursem
ent
No reimbursem
entContinuing education to maintain real estate license 9% 10% 81%
Real estate sales training 8 16 76Obtaining a designation in real estate 8 14 79Pre-license training 7 11 82Obtaining a certification in real estate 7 13 81Vocational educational programs 3 5 93
College degree programs 2 4 94
2013 Profile of Real Estate Firms
Educational Attainment by Members
Degrees Member
Commercial Member
High school graduate 9% 5%
Some college/Associate’s Degree
41 31
Bachelor’s Degree 30 35
Some graduate school 8 10
Graduate Degree 13 20
2013 Member Profile and 2013 Commercial Member Profile
Typical Work Week
• Typical member works 40 hours a week in real estate– Managers/appraisers
typically 50 hours• 77% real estate is the only
occupation– 65% w/2 years or less
experience– 83% of those with 16
years or more• 47% real estate is primary
source of income for household– 64% who work 40+ hours
a week– 21% who work -40 hours
a week
2013 Member Profile
Gross Annual Income, 2001-2012
2001 2002 2004 2006 2007 2008 2009 2010 2011 2012$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$47,700
$52,200 $49,300
$47,700
$42,600
$36,700 $35,700 $34,100 $34,900
$43,500
2013 Member Profile
Distribution of Income
Gross Income: Before taxes and expenses
ALL REALTORS
®
Broker-
Owner (witho
ut selling
)
Broker-Owner
(with selling)
Associate
Broker
Manager
(without
selling)
Manager
(with sellling
)Sales
AgentApprai
ser
Less than $10,000 18% 18% 13% 15% 8% 5% 22% 2%$10,000 to $24,999 15 7 10 14 0 6 18 6$25,000 to $34,999 10 10 7 10 9 8 10 5$35,000 to $49,999 12 10 10 15 6 17 12 15$50,000 to $74,999 14 9 16 16 19 22 12 22$75,000 to $99,999 10 7 13 11 28 15 9 15$100,000 to $149,999 9 11 14 7 22 16 9 20$150,000 to $199,999 5 7 9 5 2 4 4 8$200,000 to $249,999 2 3 3 2 5 4 2 4
$250,000 or more 4 17 6 5 1 5 3 4
Median $43,500$62,80
0$66,30
0$46,10
0$81,90
0$66,60
0$35,7
00$76,20
0
Gross Annual Income by Hours Worked, 2012
ALL RE-ALTORS®
Less than 20 hours
20 to 39 hours
40 to 59 hours
60 hours or more
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$43,500
$8,700
$25,200
$61,100
$85,700
2013 Member Profile
Gross Annual Income by Experience, 2012
ALL RE-ALTORS®
2 years or less
3 to 5 years 6 to 15 years
16 years or more
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$43,500
$9,700
$29,600
$46,000
$57,300
2013 Member Profile
Years of Experience in Real Estate
2007 Survey
2008 Survey
2009 Survey
2010 Survey
2011 Survey
2012 Survey
2013 Survey
0
2
4
6
8
10
12
14
7
8
10 10
12
11
13
2013 Member Profile
Age Rising
48
49
50
51
52
53
54
55
56
57
52 52
51
52
51
52
54 54
56 56
57
2013 Member Profile
Word of Mouth Business
• 42% of member business is from referrals and repeat clients
• 54% of buyers and 64% of sellers used an agent that was referred to them or they had worked with before
• 66% of buyers and sellers only contacted 1 agent
• More then 8 in 10 buyers and sellers would recommend their agent or use again
2013 Profile of Home Buyers and Sellers
Agent Use By Buyer High and Growing
2001 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
69%75% 77% 77% 77% 79% 81%
77%83%
89% 89% 88%
15 14 11.712.344876990
646612.695718657
773611.830619181
83019.7008887751
63287.5796811926
35196.2725181661
27356.6 5.9 7
159 9.3 8.8576962330
23238.7757152688
29836.9586669640
39315.9462199858
45625.0947964621
21375.2964168744
2324 4.9 5
Through a real estate agent or brokerDirectly from builder or builder's agentDirectly from the previous owner
2013 Profile of Home Buyers and Sellers
How Seller Sold Home 1991-2013
1991
1993
1995
1997
1999
2001
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
0
10
20
30
40
50
60
70
80
90
100
19 17 15 18 16 13 14 14 13 12 12 13 11 9 10 9 9
77 82 81 8077 79 83 82 85 84 85 84 85 88 87 88 88
4 1 4 4 7 8 4 4 2 3 3 3 4 3 3 2 3
All FSBO (For-sale-by-owner) Agent-assistedOther
What Buyers Want Most From Their Agent
Help find the right home to purchase;
53%
Help buyer ne-gotiate the terms
of sale; 12%
Help with the price negotiations;
11%
Determine what comparable homes
were selling for; 8%
Help with pa-perwork; 7%
Help determining how much home buyer can afford;
3%
Help find and arrange financing; 3%
Help teach buyer more about neighborhood or
area (restaurants, parks, public transportation); 1% Other; 2%
2013 Profile of Home Buyers and Sellers
What Sellers Want Most From Their Agent
• Help seller market home to potential buyers
• Help sell home within specific timeframe
• Help price the home competitively
• Help find a buyer for the home
2013 Profile of Home Buyers and Sellers