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2011 Member Profile Webinar
Jessica LautzJune 1, 2011
Methodology
• Tailored Design Method• Mailed hard copy and emailed to 54,758 members• Thank you reminder and re-mail reminder• Received 8,303 surveys• Response rate of 15.3 percent• Incentive REALTOR® decal
Business Characteristics
What do our members do?
• 28 percent brokers• 17 percent broker associates• 57 percent sales agents• 4 percent appraisers
Primary Specialty Area
Secondary Specialty Area
Years of Experience in Real Estate
Number of Personal Assistants
ALL REALTOR
S®2 years or less
3 to 5 years
6 to 15 years
16 years or more
None 83% 94% 90% 82% 78%
One 14 6 9 15 17
Two or more 4 1 1 3 5
Make a Difference
• 23 percent members of an affiliate• 12% CRS—Council of
Residential Specialists• 8% REBAC—Real Estate
Agent Council• 36 percent have a
designation• 21% GRI—Graduate
REALTOR Institute• 13% ABR—Accredited
Buyer Representative• 35 percent have a
certification• 21% Short Sales and
Foreclosures• 11% e-Pro
Will Remain Active in Real Estate for Two More Years by Experience
All Members
2 years or less
3 to 5 years
6 to 15 years
16 years or more
Very certain 73% 70% 74% 74% 73%Somewhat certain 18 19 17 18 17Not certain 9 11 9 8 10
Business Activity
Business Activity
2009 Survey
2010 Survey
2011 Survey
Properties appraised 200 200 200
Transaction sides 7 7 8
Percent of members who had a transaction involving a foreclosure
41% 48% 51%
Percent of members who had a transaction involving a short sale
28% 40% 45%
Brokerage sales volume $1.2 million $1.2 million $1.1 million
Number of properties managed
40 33 25
Transaction Sides
Most Important Factor Limiting ClientsRESIDENTIAL SPECIALISTS
ALL REALTOR
S® All
Broker/ Broker
AssociateSales Agent
Commercial
SpecialistsDifficulty in obtaining mortgage finance 33% 32% 35% 31% 42%Expectation that prices might fall further 26 26 24 28 22Low consumer confidence 15 15 17 13 12Difficulty in finding the right property 10 10 8 11 10No factors are limiting potential clients 8 8 7 9 11Concern about losing job 4 4 5 4 3Expectation that mortgage rates might come down 1 1 1 1 1
Where Clients Come From
• 18 percent repeat business from past clients
• 18 percent referrals from past clients
• 3 percent off member website (of those with a website)
• Only 34 percent of members report any business from an open house
Technology
Changes in Technology
Communication Source
2009 Survey
2010 Survey 2011 Survey
Realtor website 60% 63% 62%
Realtor blog 7 10 10
Use of social media 35 51 49
Blog Use
ALL REALTORS
® AGE2011
Survey
2010 Surv
ey29 or
younger 30 to 3940 to
4950 to
5960 or older
Have a blog 10% 10% 16% 18% 12% 10% 6%Do not have a blog 81 77 69 66 77 79 88Do not have a blog, but plan to in the future
9 12 15 15 11 10 6
Social Media Use
ALL REALTORS
®29 or
younger30 to
3940 to
4950 to
5960 or older
Yes 49% 83% 72% 64% 52% 31%No 42 10 20 28 38 58No, but plan to in the future
9 6 8 8 10 9
Firm Web Presence
Median Amount Spent on Website
Percent of Business from Website by Amount to Maintain
Income and Expenses
Compensation Structures
All REALTORSPercentage commission split 68%100% Commission 18Commission plus share of profits 3Salary plus share of profits/production bonus
3
Salary only 2Share of profits only 1Other 6Median year-starting percentage commission split
70%
Median year-ending percentage commission split
70%
Commission Split by Years of Experience
Gross Annual Income, 2010
Net Annual Income, 2010
Gross Annual Income by Experience, 2010
Net Annual Income by Experience, 2010
Expenses 2010
2010 2011
Total Expenses $5,480 $4,270
Business Use of Vehicle 1,580 1,680
Technology 720 630
Professional Development 700 600
Administrative 690 720
Marketing of Services 690 550
Median percent spent on online marketing
10% 10%
Business Promotion 670 580
Affinity/Referral Relationship 0 0
Office/Lease Building 0 0
Office and Firm Affiliation
Where do our members work?
What type of firm?
• Typical firm size 29 brokers and agents– Typical firm has 1 office– Typical office size has 25
brokers and agents• 5 years typical tenure at firm• 11 percent worked at a firm that
was bought or merged
Relationship to the Firm
Benefits from the Firm
ALL REALTORS
®Employe
esIndependent Contractors
Errors and omissions (liability insurance) 20% 38% 19%Health insurance 5 37 2 Pension/SEP/401(K) 3 25 1 Life insurance 3 21 1 Dental insurance 3 24 1 Paid vacation/sick days 3 38 1 Vision care 2 19 1 Disability insurance (long-term care) 1 11 *Other 2 3 1 None 75 41 79
Demographics
Who Are Our Members?
Typical member: • 56-years-old• 57 percent are female• 48 percent at least a Bachelor’s
degree• 35 percent had prior career in
management/business/financial or sales/retail
• 75 percent real estate is only occupation
• Household income in 2010--$91,700
• 43 percent real estate is primary source of income for household
For More Information
Member Profile Webpagehttp://www.realtor.org/topics/member_profile
Economists Blog:http://economistsoutlook.blogs.realtor.org/
Via the FaceBook Page:http://www.facebook.com/narresearchgroup
Via Twitter Account:http://twitter.com/#!/NAR_Research