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


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


Certifications and Designations in Real Estate


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


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


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%


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
