Post on 01-Nov-2014
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Profile of Today’s SW Florida Real Estate
Recruit
Today’s AgendaA word about Larson Educational ServicesCommon perceptions about licensing educationFive things that make us differentProfile of today’s real estate recruitThings to considerProfile of today’s REALTORWhy choose Larson Educational Services?
Larson Educational Services is a family-owned business that opened in November, 2008
Larson Educational Services is an approved Florida Real Estate School, CAM School, Mortgage Business School and NMLS Approved Course Provider
A word about Larson Educational Services
The SW Florida market has several providers, but a common perception of licensing education has been:Homogeneous productMost fail the examMost hate the course
= Selection criteria: CHEAP / FAST / CLOSE
Common perceptions about licensing education
What is YOUR viewpoint?
Q. As an employing broker or manager, what do you want from the school where you send your recruits?
RECRUITS PASS THE EXAM KNOWLEDGE OF THE BUSINESS ENTHUSIASM FOR A FAST START COME BACK ALIVE!
1. Our curriculum
2. Our instructors
3. Our course materials
4. Our classrooms
5. Our attitude
Five things that make US different from the rest
1. Our CURRICULUM is different
Not a guessing game. An up-to-the-minute program of study that focuses students on what they really need to know to succeed on the exam and get off to a fast start.
2. Our INSTRUCTORSare different
We hire the best instructors in the business. It’s that simple
3. Our COURSE MATERIALS are Superior
No one has more effective sample exams and course workbooks.
All others Larson Course I + Prep0.00%
10.00%20.00%30.00%40.00%50.00%60.00%70.00%80.00%90.00%
100.00%
44.00%
92.00%
Pass
4. Our CLASSROOMS are different
Our classrooms are shining examples of what classrooms should be. In short, ours are professional classrooms – in every sense of the word. Opening soon in Naples!
5. Our ATTITUDEis different
We orient everything we do from the customer’s perspective.
We expect to earn the right to be YOUR SCHOOL.
Today, sharing valuable information is part of our commitment to give you MORE than what you expect.
Profile of Today’s Real Estate Recruit
Lee County new licensees
2001 2002 2003 2004 2005 2006 2007 2008 20090
200
400
600
800
1000
1200
1400
1600
1800
587
875
1066
1315
1786
1013
522450
737 Series1
Survey Says…
Each of our real estate licensing students completes an Anonymous Survey at the conclusion of Course I. The following data were collected from February, 2009 – January, 2010
Q. What is the primary reason for attending real estate classes?
1. Income and investment opportunities 41%
Improve my credit card status / make more money / only means to make good money today / better my family’s life / love real estate investing / market is improving / now is the time / want to be on top of investments
Q. What is the primary reason for attending real estate classes?
2. Attributes of the business 35%Be my own boss / help people buy / freedom / like helping people find a nice home / like people, like houses, like money / love real estate
3. Career change 12%New career, sales oriented / it fits at this point in my life / always thought about it / more control of future
4. Another tool in my belt 12%Background in lending / property management / CAM / contacts in finance / construction / foreclosure
Q. How did you first contact the broker or office?
1. Personal contact: friend, family or customer
2. Searched the Internet
3. Found on Craig’s List
IF YOU DON’T ADVERTISE, THEY DON’T THINK YOU’RE HIRING!!
Q. What was the primary reason you chose this broker?
1. Personal relationship 42%Already work there / friend or through a friend / known for x years / ethics / compatible goals / motivated me / business relationship
2. The broker offered MORE 36%Commission split / support / lower fees / paid some start-up costs
Q. What was the primary reason you chose this broker?
3. Training / mentorship 14%Proven plan for success / training and successful history / mentorship
4. Paid for my classes 8% Offered scholarship / paid for my classes / offered to pay tuition
Florida Unemployment and struggling industries12/2008 7.6% 12/2009 11.8%Jobs lost 232,400
Mortgage / HousingFurniture Securities Services
What do real estate recruits do now?
Series105
10152025303540
37
19 19
9 74
RE Related
Other
Self
Sales
Services
Medical
Agents by race
White Hispanic Black Asian Other0
10
20
30
40
50
60
70
80
90 84
11
2 2 1
New Agents
Agents by gender
Male Female0
10
20
30
40
50
60
45
55
40
60
New Agents
Current Agents
Agents by marital status
Married Unmarried0
10
20
30
40
50
60 55
45
58
42
New Agents
Current Agents
New agents committed to a broker before enrolling
Committed Not Committed0
10
20
30
40
50
60
70
8077
23
New Agents
New agents by own versus rent
Currently Own Currently Rent0
10
20
30
40
50
60
70
80 71
29New Agent
New agents by hours expecting to work per week
0-20 21-40 41-50 51-60 61-70 71+0
5
10
15
20
25
30
35
40
17
27
36
13
7
0
New Agents
New agents by age versus national trend
18 - 24 25 - 34 35 - 44 45 - 54 55 - 64 0
5
10
15
20
25
30
12
20
24 24
2020
2830
15
6
New Agents
National
New agents by household income
0-20 21-40 41-60 61 - 80 80,000+0
5
10
15
20
25
30
8
17
28
18
29
New Agents
New agents by source of income
Primary source
Secondary source
0
5
10
15
20
25
30
35
40
45
5050 50
New Agents
Things to consider
Career Night: Do-it-Yourself Disc
Web-based recruiting
Participating Broker ProgramMaterials at LarsonEd Career NightParticipating Broker ConnectionLicenseTrak Scholarship Program
Recruit, Train andRetain
Thoughts on management functions and the need for training / re-training
2009 REALTOR Profile
Realtors & Technology60% of Realtors have a website aged an average of 5 years.
The most common info on the websites is the member’s own listings.
Over 1/3 use social networking sites.
17% of Realtors regularly use blogs, RSS feeds and podcasts, up 5% from last year.
Years in practice had no bearing on use of social media.
Realtor Demographics
Typical REALTOR® is a 54 year old white female who attended college and is a homeowner.
60% of all Realtors are female.
The median age of Realtors is 54 years old.
25% state real estate is not their only occupation.
Under 50% of Realtors surveyed noted real estate is their primary source of household income.
9% of Realtors were born outside the U.S.
Business Activity
Brokerage specialists averaged 7 transactions in 2008 and averaged 8 in 2007.
40% of Realtors transacted at least one property in foreclosure.
23% of business originated from past client referrals for Realtors licensed 16+ years
39% of Realtors generated “some” business from holding an open house.
Income & Expenses
Median gross income fell 14% to $36,700 in 2008.
Median gross income of Realtors with 2 years or less experience was $8,600.
Median gross income of Realtors with 16 years or more experience was $53,900.
Realtor annual business expenses were $5,810
70% of Realtors are compensated on a percentage split commission.
27% reported uncertainty about being in business for 2 more years
Brokerage Models
50% are affiliated with an independent, non-franchised brokerage.
Median firm has 23 brokers and agents.
25% have spent 11+ years with their current brokerage.
64% of brokers have some ownership interest
72% receive no benefits through their firm.
12% worked for a firm that was bought or merged in the past 24 months.
Designations and Affiliations
35% hold at least one professional designation
20% have a GRI, 13% have a ABR, 10% have a CRS and 5% have a SRES
16% hold a specialized training certification (like e-pro)
25% belong to one or more affiliated institutes or councils. 11% belong to CRS, 10% to REBAC, 4% to WCR and 3% to CREB
Professional Focus
7% of sales associate licensees do something other than sell
The average years of experience is 10 years.
82% specialize in residential real estate.
22% have a secondary focus on relocation, 21% in commercial brokerage, 17% in residential property management, 14% in land development, and 14% in counseling.
Why choose Larson Educational Services?
Our unique course development strategy prepares for exam success
Our students don’t just start, they get a license.
Our students come back to you alive, happy and excited
They will succeed on the exam They will NOT be recruited or
solicited Their energy will carry into the office
Why choose Larson Educational Services?
We cater to brokers who recruit: Massive scheduling for a fast startCompetitive pricingConsistency in educational
objectives, materials and instructors
Consistency with in-house training
Why choose Larson Educational Services?
In short, we will be YOUR SCHOOL
Thank you, and best wishes for continued success!
Why choose Larson Educational Services?