learn. live. lead. life-long learning and real estate success jessica lautz november 9, 2013
TRANSCRIPT
Learn. Live. Lead. Life-long Learning and Real
Estate Success
Jessica LautzNovember 9, 2013
Firm Provides Training Programs
2013 Profile of Real Estate Firms
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 office
Two offic
es
Three offices
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
Firm’s Reimbursement Of Educational Activities
Full reimburseme
nt
Partial reimburseme
nt
No reimburseme
ntContinuing 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 93College 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
2013 Member Profile
Distribution of Income
Gross Income: Before taxes and expenses
ALL REALTORS®
Broker-Owner (witho
ut sellin
g)
Broker-Owner (with
selling)
Associate
Broker
Manager (withou
t selling
)
Manager (with
sellling)
Sales Agent
Appraiser
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 $66,300 $46,100 $81,900 $66,600$35,70
0$76,20
0
Gross Annual Income by Hours Worked, 2012
2013 Member Profile
Gross Annual Income by Experience, 2012
2013 Member Profile
Years of Experience in Real Estate
2013 Member Profile
Age Rising
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
2013 Profile of Home Buyers and Sellers
How Seller Sold Home 1991-2013
What Buyers Want Most From Their Agent
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