NatioNal associatioN of RealtoRs®       Member Profile       2011The Voice for Real Estate®
2011 OFFiCERS                                    NAR RESEARCH STAFFPresident                                        Office...
NatioNal associatioN of RealtoRs®Member Profile2011©2011 NatioNal associatioN of RealtoRs®
National Association of REALTORS®         Contentsintroduction ..............................................................
2011 Member ProfileIntroductioni    n 2010, RealtoR® members across the country met vastly        RealtoR® member characte...
National Association of REALTORS®HighlightsBusiness Activity of NAR’s Commercial MembersBusiness Characteristics of REALTO...
Chapter 1:Business Characteristics of REALTORS®2      010 did not bring any major changes to REALTOR® membership. The     ...
National Association of REALTORS®REALTORS® FuNCTiON ANd SPECiALTy AREA                               ExPERiENCE ANd iNCOME...
2011 Member Profile • chapter 1: Business characteristics of RealtoRs®PERSONAL ASSiSTANTS                                 ...
National Association of REALTORS®MEMBERSHiP iN AFFiLiATES, PROFESSiONAL                              FiRM’S WEB PRESENCE A...
2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-1              REALTORS® By TyPE OF LiCEN...
National Association of REALTORS®Exhibit 1-3             PRiMARy BuSiNESS SPECiALTy OF BROkER/BROkER ASSOCiATE LiCENSEES, ...
2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-5                  SECONdARy BuSiNESS SPE...
National Association of REALTORS®Exhibit 1-6                  REAL ESTATE ExPERiENCE OF REALTORS®, By MAiN FuNCTiON       ...
2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-9                 NuMBER OF PERSONAL ASSi...
National Association of REALTORS®Exhibit 1-12               CHARACTERiSTiCS OF PERSONAL ASSiSTANTS                        ...
2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-14              FREQuENCy OF uSE OF BuSiN...
National Association of REALTORS®Exhibit 1-16             REALTORS® WiTH WEBSiTES, By LiCENSE ANd FuNCTiON                ...
2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-19              iNFORMATiON ON REALTOR® W...
National Association of REALTORS®Exhibit 1-21                 ACTiVE uSE OF SOCiAL OR PROFESSiONAL NETWORkiNg WEBSiTES    ...
2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-23             PROFESSiONAL dESigNATiONS ...
National Association of REALTORS®Exhibit 1-24             RELOCATiON ACTiViTy OF REALTORS®                         (Percen...
Chapter 2:Business Activity of REALTORS®T        he business activity of REALTORS® in 2010 was largely spent maintaining  ...
National Association of REALTORS®                                                                          forty-nine perc...
2011 Member Profile • chapter 2: Business activity of RealtoRs®REPEAT BuSiNESS ANd REFERRALS                              ...
National Association of REALTORS®Exhibit 2-1                  APPRAiSAL: TyPES OF PROPERTiES APPRAiSEd                    ...
2011 Member Profile • chapter 2: Business activity of RealtoRs® Exhibit 2-3                APPRAiSAL: OTHER REAL ESTATE AC...
National Association of REALTORS®Exhibit 2-5               BROkERAgE: LiSTiNgS SOLd, 2010                          (Percen...
2011 Member Profile • chapter 2: Business activity of RealtoRs® Exhibit 2-6              BROkERAgE: NuMBER OF TRANSACTiON ...
National Association of REALTORS®Exhibit 2-9               BROkERAgE: NuMBER OF TRANSACTiON SidES iNVOLViNg PROPERTiES iN ...
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study conducted by the National Association of REALTORS® on the profile of a typical REALTOR® in 2010. Study results released in June of 2011

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Nar member profile 2011

  1. 1. NatioNal associatioN of RealtoRs® Member Profile 2011The Voice for Real Estate®
  2. 2. 2011 OFFiCERS NAR RESEARCH STAFFPresident Office of the Chief EconomistRon Phipps, ABR, CRS, GRI, GREEN, e-PRO, SFR lawrence Yun, Ph.D. Chief Economist and Senior Vice PresidentPresident-Elect Peter c. Burley, cReMaurice "Moe" Veissi Director, REALTOR® UniversityFirst Vice President caroline Van HollenGary Thomas Senior Research and Strategic Planning CoordinatorTreasurer Survey and Market ResearchWilliam J. Armstrong, III, GRI Paul c. Bishop, Ph.D.Immediate Past President Vice PresidentVicki Cox Golder, CRB stephanie DavisVice President & Liaison to Committees Staff AssistantElizabeth Mendenhall Ken fearsVice President & Liaison to Government Affairs Manager, Regional EconomicsVince Malta Danielle Hale Research EconomistChief Executive OfficerDale Stinton, CAE, CPA, CMA, RCE Jessica lautz Research Economist selma Hepp Research Economist Quantitative Research Jed smith Managing Director, Quantitative Research Keunwon chung Statistical Economist Michael Hyman Research Assistant George Ratiu Research Economist Gregg stratton Research Economist Business Operations and Communications thomas Doyle Marketing and Communications Manager Meredith Dunn Research Communications Representative sophia stuart Research Marketing Associate
  3. 3. NatioNal associatioN of RealtoRs®Member Profile2011©2011 NatioNal associatioN of RealtoRs®
  4. 4. National Association of REALTORS® Contentsintroduction ..................................................................................................................................4Highlights ...................................................................................................................................... 5chapter 1: Business characteristics of RealtoRs®........................................................... 6chapter 2: Business activity of RealtoRs®......................................................................22chapter 3: income and expenses of RealtoRs® .............................................................39chapter 4: office and firm affiliation of RealtoRs® .....................................................53chapter 5: Demographic characteristics of RealtoRs® ...............................................63Methodology ..............................................................................................................................75list of exhibits ............................................................................................................................76 National association of RealtoRs® | Member Profile 2011 3
  5. 5. 2011 Member ProfileIntroductioni n 2010, RealtoR® members across the country met vastly RealtoR® member characteristics were largely unchanged different market conditions. some markets saw a boom from 2009. the typical RealtoR® is an independent contractor after the Great Recession; others have continued to be affiliated with a firm of 29 agents and brokers catering to localplagued with high unemployment conditions. all markets have markets. Members typically have been with their firm for fivebeen stalled by the tightening of the mortgage market, which years and 75 percent of members do not receive benefits athas limited potential clients in purchasing a home. existing their firm.home sales declined slightly from 2009 to 2010, to 4.9 million the median age of RealtoRs® has steadily increased in recentsales from 5.2 million sales. Prices of existing homes remained years from 51 years of age in 2007 to 56 in 2011. the majority ofsteady from 2009 to 2010 at $172,900. members are women with a college education. experience hasin the winter and spring of 2010, buyers took advantage of also steadily increased in recent years. the typical memberfavorable conditions provided by the Home Buyer tax credit, has been in the field for 12 years, compared to eight years inrecord low mortgage rates, and housing affordability at an 2008. RealtoRs® frequently have had careers in other fieldsall time high. survey data from the Profile of Home Buyers and prior to real estate, the most common being in management,Sellers show these factors increased the share of first-time business, and financial professions.buyers from 41 percent of the market in 2008 to 50 percent of RealtoRs® are embracing new technologies and marketingthe market in 2010. However, after the close of the tax credit strategies that buyers are finding useful in their home searchdeadline of april 2010, home sales slowed throughout the rest process, including websites, blogs, and social media. inof the year. addition to membership in the NatioNal associatioNfor commercial real estate, 2010 signaled a leveling-off in of RealtoRs®, real estate professionals have other ways ofprevious years’ decline. commercial fundamentals regained distinguishing themselves, including affiliate memberships,their footing. Demand for space improved and vacancy professional designations, and certifications. Many RealtoRs®rates, while still high, began to descend. the combination of took advantage of each of these opportunities. in 2010,a stronger economy and a soft residential housing market representative of market conditions, the certification for shortmade the multifamily sector especially attractive, leading to sales and foreclosures grew from 12 percent to 21 percent ofcontracting availability and growing rents. the membership.the combination of high demand leveling off and lower prices looking forward, 73 percent of RealtoRs® are very certaindirectly affects RealtoR® income since most real estate they will remain in the market for two more years. Neweragents and brokers are compensated on a commission basis. members in the business are less certain they will remain inthe median gross income of RealtoRs® continued to decline real estate, while more seasoned members are more certain.to $34,100 in 2010. Residential brokerage specialists reporteda median of eight transactions in 2010, which is up slightlyfrom 2008 and 2009; however, the typical sales volume edgeddown to $1.1 million. Paul C. Bishop, Ph.D. Danielle Hale Meredith Dunn Selma Hepp Jessica Lautz Sophia Stuart May 20114 National association of RealtoRs® | Member Profile 2011
  6. 6. National Association of REALTORS®HighlightsBusiness Activity of NAR’s Commercial MembersBusiness Characteristics of REALTORS® • the median gross income of RealtoRs® was $34,100 in• fifty-seven percent of RealtoRs® were licensed as sales 2010, down from $35,700 in 2009. agents, and about eight in ten members specialize in • RealtoRs® with 16 years or more experience had a median residential brokerage. gross income of $47,100 compared to RealtoRs® with 2• the typical RealtoR® has 12 years of experience. years or less experience that had a median gross income of• three-quarters of all RealtoRs® reported daily use of $8,900. smartphones with wireless email and internet capability. • the median business expenses fell from $5,480 in 2009 to this is up from 56 percent in 2009. $4,270 in 2010.• Nearly two-thirds of RealtoRs® reported having a website • the largest single expense category for most RealtoRs® for at least five years, one in ten members reported having was vehicle expenses, which increased from $1,580 in a real estate blog, and half of members are using social 2009 to $1,680 in 2010. media. Office and Firm Affiliation of REALTORS®• the most commonly found information on websites, among • forty-one percent of RealtoRs® are affiliated with an commercial and residential RealtoRs®, is the members independent non-franchised company. own listings. • the typical RealtoR® works at a firm that employs 29• twenty-one percent of RealtoRs® have a certification for agents and brokers. short sales and foreclosures, up from 12 percent in 2009. • the median tenure for RealtoRs® with their current firm is• three-quarters of RealtoRs® are certain they will remain unchanged at five years. in the business for two more years. • More than three-quarters of brokers had some ownershipBusiness Activity of REALTORS® interest in their firm and more than half have sole ownership• in 2010, the typical agent had eight transactions—slightly of their firm. higher than the previous year. • three-quarters of RealtoRs® reported receiving no• commercial specialists also typically had eight transactions benefits through their firm. in 2010, up from 6 in 2009. • eleven percent of RealtoRs® worked for a firm that was• for the second year in a row, the difficulty in obtaining bought or merged in the past two years. mortgage financing was the most cited reason for potential Demographic Characteristics of REALTORS® clients being limited. • the typical RealtoR® is a 56 year old white female who• Most RealtoRs® worked 40 hours per week in 2010, a attended college and is a homeowner. trend that has continued for several years. • fifty-seven percent of all RealtoRs® are female, which• the typical RealtoR® earned 18 percent of their business remains unchanged from 2009. from past clients and customers. • seventy-five percent of RealtoRs® said that real estate was• RealtoRs® spent a median of $250 to maintain a website their only occupation, and that number jumps to 83 percent in 2010. among members with 16 or more years of experience.• Members typically brought in three inquiries and 3 percent • the median gross income of RealtoR® households of their business from their website. was $91,700 in 2010, up from $89,100 in 2009, which isIncome and Expenses of REALTORS® a nascent reversal of the downward trend observed in• Percentage split-commission is the prevailing method previous years. for RealtoR® compensation, with roughly seven in ten • a substantial majority of RealtoRs® - 91 percent - own respondents indicating this method of compensation, their primary residence. similar to 2009. National association of RealtoRs® | Member Profile 2011 5
  7. 7. Chapter 1:Business Characteristics of REALTORS®2 010 did not bring any major changes to REALTOR® membership. The majority of REALTORS® are sales agents who generally specialize in residential brokerage. There continued to be fewer younger members,which increased the typical number of years of experience among REALTORS®from 10 to 12.REALTORS®’ web presence and use of social media has been increasing in recentyears as a valuable marketing tool to reach clients. The 2011 survey shows thatalmost half of REALTORS® reported using social networking websites and anadditional 9 percent reported that they do not yet use such sites but plan to doso in the future. This is a steep increase from 2009, when just 35 percent ofmembers reported using social networking and 14 percent planned to. REALTORS®are also progressively more comfortable with technology with almost three-fourths of respondents now using a Smartphone with wireless email and Internetcapabilities.In addition to membership in the NATIONAL ASSOCIATION of REALTORS®,REALTORS® have other ways of distinguishing themselves, including affiliatememberships, professional designations, and certifications. There were moremembers with a primary specialty other than any of those suggested in thesurvey. The share of REALTORS® who obtained the Short Sales and Foreclosurecertification saw the largest increase, indicating a rising interest in this issue.There were generally more members with a certification in 2010 than there werein 2009. The most common affiliate memberships reported by members involvedresidential specialization and buyers agent representation. Finally, three-quarters of REALTORS® report that they are certain that they will remain in thebusiness.6 National association of RealtoRs® || Member Profile 2011 Association of REALTORS® Member Profile 2011
  8. 8. National Association of REALTORS®REALTORS® FuNCTiON ANd SPECiALTy AREA ExPERiENCE ANd iNCOME• Exhibits 1-1 through 1-5 • Exhibits 1-6 through 1-8 the majority of RealtoRs® hold sales agents licenses, With the continued slowdown in new membership, theyet the share of those holding broker licenses increased by 3 share of members with more years of experience in thepercentage points in 2010 from the year before. among the industry increased in 2010. the share of members with 1 to57 percent of members who hold sales agents licenses, the 5 years of experience fell between 2009 and 2010, from 30largest share still focuses on residential brokerage. While percent of RealtoRs® in 2009 to 23 percent in 2010. By theabout eight in ten members specialize in residential brokerage, same token, the share of members with 6 years of experiencethere was an increasing tendency among all types of licensees or more jumped from 69 percent in 2009 to 76 percent. on theto specialize in other areas. whole, RealtoRs® have been in the field for 12 years, up from 8 years in 2009. Brokers and broker associates tend to be involved in morebusiness specialties, such as commercial brokerage and experience levels do vary across member functions.property management. sales agents are more likely to primarily Managers and brokers who are not directly involved in sellingspecialize in residential brokerage, but again there is a larger continue to report the most experience, typically 28 and 20share than before who are focusing on other specialties. years respectively. among broker-owners who do not sell, almost two-thirds have been in the field for at least 26 years. While the most commonly practiced secondary specialties among appraisers, 97 percent have been in the industry for atamong all members are commercial brokerage, relocation, and least 6 years. the broker who sells is the next most experiencedcommercial property management, there was a significant group, while the typical sales agent has been in the field for 9jump in the share of members who indicated that they did not years.practice a secondary specialty. that share rose from 3 percentin 2009 to 28 percent in 2010. consequently, the share of While RealtoRs® more generally rely on their primarymembers with a secondary business specialty declined along business specialty for more than half of their income, theall specialties. reliance on real estate specialty has fallen since 2009. in 2010, 41 percent of RealtoRs® earned between 50 and 100 percent of their income from their primary real estate specialty, down from 49 percent in 2009. Nevertheless, those who relied 100 percent on their real estate specialty increased, regardless of years of experience. as anticipated, those who worked more hours were also more likely to depend entirely on their real estate specialty. among the members with fewer years of experience and who worked fewer hours, an increasingly larger share gained their income from other sources. National association of RealtoRs® | Member Profile 2011 7
  9. 9. 2011 Member Profile • chapter 1: Business characteristics of RealtoRs®PERSONAL ASSiSTANTS WEBSiTES, BLOgS, ANd SOCiAL NETWORkiNg• Exhibits 1-9 through 1-12 • Exhibits 1-16 through 1-21 RealtoRs® generally do not have personal assistants. in today’s age of internet and technology, the web presenceHowever, broker-owners and managers are more likely to have of RealtoRs® is ever more important. While 9 out of 10an assistant, particular those who are not selling. in 2010, RealtoR’s® firms have a web presence, almost two-thirds ofhaving three or more personal assistants among the same all RealtoRs® reported having a website. appraisers weregroup became more common than the year before. More the least likely to indicate having a website; though their webtenured members are more likely to use personal assistants as presence has increased from 36 percent last year to 39 percentwell. this year. sales agents were equally likely to have a website provided by their firm as they were to have a website developed Personal assistants help with a variety of tasks. the most and/or maintained on their own. eight percent of all membersfrequently reported tasks included sending out mailings to still plan on having a website in the future. Nearly two-thirds ofpast clients or prospects, processing new listings and entering RealtoRs® has had a website for at least five years. Membersthem in the Mls, managing closing paperwork, and scheduling who have been in the industry the longest are also most likelylisting presentations, closings, and appointments. to have had a website for at least 5 years. there was no significant distinction in whether personal among residential brokerage specialists with websites,assistants were full-time or part-time, licensed or unlicensed, 9 in 10 listed their own property listings. increasingly moreand independent contractor or employee. Generally they were commercial brokerage specialists did the same on theirequally likely to be any of these. almost half of the personal websites. other material presented on their website at leastassistants were paid by the RealtoR®, though 37 percent two-thirds of the time includes home buying and sellingwere paid only by the firm. Nearly one-fifth were paid by both information, mortgage or financial calculators, and links to theirthe RealtoR® and the firm. in 2010, members were more firm’s website. similar information is contained on commerciallikely to share a personal assistant than the year prior. While brokerage websites.almost three-fourths of assistants were exclusive in 2009, onlytwo-thirds were exclusive in 2010. one in ten members reported having a real estate blog. that number did not change from the year before. among all RealtoRs®, those younger than 39 years of age are more likely to have a blog, though 6 percent of those over 60 alsoCOMMuNiCATiONS ANd TECHNOLOgy have a blog.• Exhibits 1-13 through 1-14 although social media has rapidly penetrated market technology is increasingly important for RealtoR® communications, the use of social media has not changedbusiness. With nearly all members reporting daily use of much between the 2010 and 2011 surveys. almost half ofemail and desktop or laptop computers, three-quarters members are using social media while an additional 9 percentreported daily use of smartphones with wireless email and plan to in the future. in the 2010 survey, only 35 percent ofinternet capability. this is up from 56 percent in 2009. More RealtoRs® used social networking websites, and 14 percentare also using technologies such as instant messaging, global planned to do so in the future. the use of social networkingpositioning systems, Rss feeds, and podcasts. sites is more widespread among younger RealtoRs®, with over 8 out of 10 of those aged 29 or younger using such sites. the majority of RealtoRs® use multiple listings softwaredaily. other software used regularly includes contactmanagement, document preparation, and electronic contractsand forms.8 National association of RealtoRs® | Member Profile 2011
  10. 10. National Association of REALTORS®MEMBERSHiP iN AFFiLiATES, PROFESSiONAL FiRM’S WEB PRESENCE ANd RELOCATiONdESigNATiONS, ANd CERTiFiCATiONS dEPARTMENT• Exhibits 1-22 and 1-23 • Exhibits 1-15 and 1-24 in addition to being a member of the NatioNal RealtoRs® firms provide them with additional resources,associatioN of RealtoRs®, RealtoRs® can distinguish including websites and relocation departments. Nine in tenthemselves in a number of other ways, including affiliate RealtoRs® reported that their firms have a web presence, andmemberships, professional designations, and certifications. 2 percent indicated that there is not currently a presence, but a site is planned. almost 40 percent of RealtoR® firms had one in five RealtoRs® has an affiliate membership with a relocation department or business development departmentthe council of Residential specialists and Real estate Buyer’s responsible for relocation activities. RealtoRs® who haveagent council, these being the two most common. By function, been in the field for longer were more likely to be aware of themanagers who do not sell and associate brokers were the most presence of a relocation department in their firm.likely to have an affiliate membership, most commonly in thecouncil of Real estate Brokerage Managers and the council ofResidential specialists respectively. about one-third of RealtoRs® held some type of FuTuRE PLANSdesignation or certification. the most prevalent designations • Exhibit 1-28were the Graduate RealtoR® institute, accredited BuyerRepresentative, and certified Residential specialist. among all RealtoRs®, three-quarters were certain theycertifications were increasingly more common among both will remain in the business for two more years. Brokers andbroker/broker associates and sales agents than in 2009. the broker associates are slightly more certain than sales agentslargest increase was in those who hold a certification for short that they will remain in the field—75 percent compared to 72sales and foreclosures which also became the most common percent. also, members who have less experience are morecertification among all types of licensees—in the 2011 survey cautious about staying in the real estate business than their21 percent of members had this certification compared to colleagues who have been in the field longer.just 12 percent in the 2010 survey. the second most commoncertification was for e-Pro with one in ten members holding it. National association of RealtoRs® | Member Profile 2011 9
  11. 11. 2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-1 REALTORS® By TyPE OF LiCENSE (Percent of Respondents) 60% 57% 50% 40% 30% 28% 20% 17% 10% 4% 1% 0% Broker Broker Associate Sales Agent Appraiser Other Exhibit 1-2 SPECiALTy ANd MAiN FuNCTiON OF REALTORS® (Percentage Distribution) ALL REALTORS® LICENSED AS 2011 Survey 2010 Survey Broker Broker Associate Sales Agent AppraiserPrimary Real estate specialty Residential brokerage 78% 81% 73% 86% 83% 4% commercial brokerage 4 4 7 4 3 * Residential appraisal 3 3 1 * 1 74 commercial appraisal 1 1 * * * 22 Relocation 1 1 1 1 2 * Property management 5 5 9 3 4 * counseling 1 1 1 1 1 * land/Development 1 2 2 1 1 * other specialties 5 2 6 4 6 *Main function Broker-owner (with selling) 16% 15% 54% 3% 1% * Broker-owner (without selling) 2 1 5 * * * associate broker 11 10 12 45 1 * Manager 4 4 6 6 3 * sales agent 60 61 17 42 89 4 appraiser 3 3 * * * 96 other 6 6 6 6 6 ** Less than 1 percent10 National association of RealtoRs® | Member Profile 2011
  12. 12. National Association of REALTORS®Exhibit 1-3 PRiMARy BuSiNESS SPECiALTy OF BROkER/BROkER ASSOCiATE LiCENSEES, 1999-2011 (Percentage Distribution) 1999 2001 2003 2005 2007 2008 2009 2010 2011Residential brokerage 75% 76% 81% 76% 79% 79% 80% 79% 78%commercial brokerage 6 6 3 4 5 6 6 7 6land/Development 4 3 1 3 3 1 3 2 2Relocation 1 1 2 3 2 * 1 1 1counseling 1 1 2 3 1 1 1 1 1appraising 4 4 3 2 1 4 1 1 1Property management 6 5 4 4 4 1 6 6 7international Na * * 1 * 3 * * *other 4 3 4 4 4 4 2 3 5NA - Not Asked* Less than 1 percentExhibit 1-4 PRiMARy BuSiNESS SPECiALTy OF SALES AgENT LiCENSEES, 1999-2011 (Percentage Distribution) 1999 2001 2003 2005 2007 2008 2009 2010 2011Residential brokerage 88% 82% 84% 74% 75% 77% 86% 87% 83%commercial brokerage 2 2 2 1 2 2 3 3 3land/Development 2 2 1 3 3 1 1 1 1Relocation 1 2 2 5 6 * 2 2 2counseling 1 3 2 5 4 5 1 1 1appraising 2 3 3 5 1 4 1 * 1Property management 2 3 3 3 4 3 4 3 4international Na * * * 2 2 1 * 1other 2 3 3 3 4 6 2 2 5NA - not asked* Less than 1 percent National association of RealtoRs® | Member Profile 2011 11
  13. 13. 2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-5 SECONdARy BuSiNESS SPECiALTy OF REALTORS® (Percent of Respondents) Commercial brokerage 16% Relocation 14% Commercial Property Management 14% Residential Brokerage 10% Counseling 9% Land Development 8% Residential Property Management 4% Residential Appraisal 3% International * 2% Auction 2% * Commercial Appraisal 1% Other 9% None/Nothing 28% 0% 10% 20% 30%12 National association of RealtoRs® | Member Profile 2011
  14. 14. National Association of REALTORS®Exhibit 1-6 REAL ESTATE ExPERiENCE OF REALTORS®, By MAiN FuNCTiON (Percentage Distribution) ALL REALTORS® MAIN FUNCTION IN FIRM Broker-Owner Broker-Owner Associate Manager Manager Sales 2011 Survey 2010 Survey (without selling) (with selling) Broker (without selling) (with sellling) Agent Appraiser1 year or less 6% 6% * 1% 2% * 2% 8% *2 years 4 4 1 2 2 1 2 6 *3 years 4 7 3 1 3 1 4 5 14 years 4 5 1 2 3 2 3 6 *5 years 6 8 * 3 4 * 3 7 16 to 10 years 23 22 7 19 20 13 17 27 1311 to 15 years 11 11 6 12 11 15 12 11 1616 to 25 years 21 19 20 25 26 30 31 18 2626 to 39 years 18 15 46 29 26 36 20 12 3440 or more years 3 2 17 8 3 1 5 1 8Median (years) 12 10 28 20 17 23 18 9 23* Less than 1 percentExhibit 1-7 iNCOME FROM PRiMARy REAL ESTATE SPECiALTy, By yEARS OF ExPERiENCE (Percentage Distribution) REAL ESTATE EXPERIENCEPercent of income from real estate specialty ALL REALTORS® 2 years or less 3 to 5 years 6 to 15 years 16 years or moreless than 50% 17% 27% 22% 14% 14% less than 25% 11 23 16 9 9 25% to 49% 5 5 6 5 650% to less than 100% 41% 27% 35% 43% 46% 50% to 74% 11 6 10 10 12 75% to 99% 31 21 26 33 34100% 42 46 43 43 40Exhibit 1-8 iNCOME FROM PRiMARy REAL ESTATE SPECiALTy, By NuMBER OF HOuRS WORkEd (Percentage Distribution) HOURS WORKED PER WEEKPercent of income from real estate specialty ALL REALTORS® Less than 20 hours 20 to 39 hours 40 to 59 hours 60 hours or moreless than 50% 17% 42% 22% 8% 6% less than 25% 11 37 14 3 2 25% to 49% 5 5 8 5 450% to less than 100% 41% 23% 39% 47% 50% 50% to 74% 11 6 11 12 10 75% to 99% 31 17 27 36 40100% 42 35 39 45 45 National association of RealtoRs® | Member Profile 2011 13
  15. 15. 2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-9 NuMBER OF PERSONAL ASSiSTANTS (Percentage Distribution) LICENSED AS MAIN FUNCTION IN FIRM Broker-Owner Broker-Owner Manager Manager ALL Broker/ Broker (without (with Associate (without (with REALTORS® Associate Sales Agent selling) selling) Broker selling) sellling) Sales AgentNone 83% 77% 88% 66% 71% 83% 62% 78% 87%one 11 19 10 20 24 15 23 16 11two 2 3 1 3 3 2 * 4 1three or more 1 2 1 11 2 1 15 2 1* Less than 1 percent Exhibit 1-10 NuMBER OF PERSONAL ASSiSTANTS, By yEARS OF REAL ESTATE ExPERiENCE (Percentage Distribution) REAL ESTATE EXPERIENCE ALL REALTORS® 2 years or less 3 to 5 years 6 to 15 years 16 years or moreNone 83% 94% 90% 82% 78%one 14 6 9 15 17two or more 4 1 1 3 5 Exhibit 1-11 TASkS PERFORMEd By PERSONAL ASSiSTANTS (Percent of Respondents)send mailings to past clients or prospects 59%Process new listings and enter them in the Mls 58Manage closing paperwork 44schedule listing presentations, closings, and appointments 43Photograph listings 41Place/track advertising of listings 39order inspections 37Write ads 33Prepare comps 33send progress reports to sellers 30Prepare escrow files 28check Mls for expireds 20check newspapers for fsBos 8Prospect fsBos 8other 3914 National association of RealtoRs® | Member Profile 2011
  16. 16. National Association of REALTORS®Exhibit 1-12 CHARACTERiSTiCS OF PERSONAL ASSiSTANTS (Percentage Distribution) licensed 48%license information Unlicensed 52 Paid by RealtoR® 46salary expenses Paid by company 37 Both 17 full-time 51employment Part-time 49 exclusive assistant 63exclusivity shared with others 37 independent contractor 55employment arrangement employee 45 Hourly 35 salary 23compensation structure arrangement varies 20 Percent of commission 14 Per task 9Exhibit 1-13 FREQuENCy OF uSE OF COMMuNiCATiONS ANd TECHNOLOgy PROduCTS (Percentage Distribution) All REALTORS® Daily or nearly every day A few times a week A few times a month A few times a year Rarely or Nevere-mail 92% 5% 2% 1% 1%laptop/Desktop computer 90 4 2 1 3cell phone (no email and internet) 68 5 2 1 25smartphone with wireless email and 72 3 1 * 23internet capabilities (e.g., treo/BlackBerry)Digital camera 28 25 32 11 5instant messaging (iM) 30 10 6 4 50Global positioning system (GPs) 31 23 18 7 21PDa/Handheld (no phone capabilities) 12 2 1 1 85Blogs 5 6 9 7 73Rss feeds 5 4 6 5 81Podcasts 1 2 6 9 82* Less than 1 percent National association of RealtoRs® | Member Profile 2011 15
  17. 17. 2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-14 FREQuENCy OF uSE OF BuSiNESS SOFTWARE (Percentage Distribution)ALL REALTORS® Daily or nearly every day A few times a week A few times a month A few times a year Rarely or NeverMultiple listing 69% 15% 7% 4% 6%contact management 27 17 13 8 35Document preparation 20 24 23 11 23electronic contract and forms 20 29 27 12 13comparative market analysis 17 31 31 13 9transaction management 15 13 11 8 53customer relationship management 12 13 13 10 53Graphics or presentation 8 13 24 18 37Property management 8 5 7 10 69loan analysis 4 9 18 18 51 Exhibit 1-15 REALTOR’S® FiRM WEB PRESENCE (Percentage Distribution) Firm does not have website but plans to in Firm does not the future have website 2% Firm has website 9% 89%16 National association of RealtoRs® | Member Profile 2011
  18. 18. National Association of REALTORS®Exhibit 1-16 REALTORS® WiTH WEBSiTES, By LiCENSE ANd FuNCTiON (Percentage Distribution) LICENSED AS MAIN FUNCTION IN FIRM Broker/ Broker- Broker- Manager Manager ALL Broker Sales Owner Owner Associate (without (with Sales REALTORS® Associate Agent (no selling) (with selling) Broker selling) selling) Agent AppraiserHave a website 62% 65% 61% 52% 65% 65% 63% 65% 63% 39% a website developed and/or 34 40 30 25 48 34 9 34 31 23 maintained by RealtoR® a website provided by firm 29 26 31 27 16 31 54 31 32 16Do not have a website 38 35 39 48 35 35 37 35 37 61 No website 30 28 31 45 26 28 37 30 29 52 No website, but plan to have 8 7 8 3 9 7 * 5 8 9 one in the future* Less than 1 percentExhibit 1-17 REALTORS® WiTH WEBSiTES, By ExPERiENCE (Percentage Distribution) ALL REALTORS® REAL ESTATE EXPERIENCE 2011 Survey 2010 Survey 2 years or less 3 to 5 years 6 to 15 years 16 years or moreHave a website 62% 63% 59% 62% 65% 61% a website developed and/or 34 34 25 29 37 34 maintained by RealtoR® a website provided by firm 29 29 35 34 27 27Do not have a website 38 37 41 38 35 39 No website 30 28 26 29 28 33 No website, but plan to have one 8 10 15 9 7 6 in the futureExhibit 1-18 LENgTH OF TiME REALTORS® HAVE HAd A WEBSiTE FOR BuSiNESS uSE (Percentage Distribution Among those with a website) ALL REALTORS® REAL ESTATE EXPERIENCE 2011 Survey 2010 Survey 2 years or less 3 to 5 years 6 to 15 years 16 years or moreless than one year 1% 1% 5% 1% 1% *1 to 2 years 21 24 88 27 12 93 to 4 years 16 18 3 48 15 75 or more years 63 57 5 25 72 84Median years 6 5 1 4 6 10* Less than 1 percent National association of RealtoRs® | Member Profile 2011 17
  19. 19. 2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-19 iNFORMATiON ON REALTOR® WEBSiTES (Percent of Respondents with a website) BROKERAGE SPECIALISTS ALL REALTORS® Residential Commercialown property listings 91% 93% 82%information about home buying and selling 81 85 59Mortgage or financial calculators 67 71 54link to firm’s website 66 67 60Virtual tours 52 55 36community information or demographics 51 54 36school reports 50 55 30links to state and local government websites 43 46 33Home valuation or comparative Market analysis tools 32 34 18current mortgage rates 32 34 18links to real estate service providers 29 30 21links to mortgage lenders’ websites 26 27 11appointment scheduler 19 20 9link to commercial information exchange (cie) 4 3 19other 3 3 4 Exhibit 1-20 REAL ESTATE BLOgS (Percentage Distribution) ALL REALTORS® AGE 2011 Survey 2010 Survey 29 or younger 30 to 39 40 to 49 50 to 59 60 or olderHave 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 10 618 National association of RealtoRs® | Member Profile 2011
  20. 20. National Association of REALTORS®Exhibit 1-21 ACTiVE uSE OF SOCiAL OR PROFESSiONAL NETWORkiNg WEBSiTES (Percentage Distribution)Actively use social or AGEprofessional networking websites: ALL REALTORS® 29 or younger 30 to 39 40 to 49 50 to 59 60 or olderYes 49% 83% 72% 64% 52% 31%No 42 10 20 28 38 58No, but plan to in the future 9 6 8 8 10 9Exhibit 1-22 AFFiLiATE MEMBERSHiP OF REALTORS® (Percent of Respondents) LICENSED AS MAIN FUNCTION IN FIRM Broker/ Broker- Broker- Manager Manager ALL Broker Sales Owner Owner Associate (without (with SalesNAR Affiliates REALTORS® Associate Agent (no selling) (with selling) Broker selling) sellling) Agent AppraiserNot a member of any 77% 69% 83% 73% 75% 68% 65% 74% 79% 97%affiliatecciM institute - certifiedcommercial investment 1 2 1 2 1 2 * 2 1 2MembercRe - counselors of 1 2 1 1 2 1 3 1 1 *Real estatecRB - council of Real 3 5 1 12 5 3 24 13 1 1estate Brokerage ManagerscRs - council of 12 17 8 8 11 20 17 12 11 3Residential specialistsiReM - institute of Real 1 1 * 6 1 * * * * *estate ManagementReBac - Real estate 8 10 7 3 10 11 * 7 8 1Buyer’s agent councilRli - RealtoRs® land 1 1 * * 1 1 * 1 * *institutesioR - society of industrial * * * * * * * * * *and office RealtoRs®WcR - Women’s council of 4 5 3 5 3 7 13 6 4 *RealtoRs®* Less than 1 percent National association of RealtoRs® | Member Profile 2011 19
  21. 21. 2011 Member Profile • chapter 1: Business characteristics of RealtoRs® Exhibit 1-23 PROFESSiONAL dESigNATiONS ANd CERTiFiCATiONS OF REALTORS® (Percent of Respondents) LICENSED AS MAIN FUNCTION IN FIRM Broker/ Broker- Broker- Manager Manager ALL Broker Sales Owner Owner Associate (without (with Sales REALTORS® Associate Agent (no selling) (with selling) Broker selling) sellling) Agent AppraiserDesignations No designations 64% 51% 74% 57% 61% 47% 47% 58% 68% 89% aBR - accredited Buyer 13 16 11 5 13 21 11 10 12 * Representative aBRM - accredited Buyer * * * 1 * * * 3 * * Representative Manager alc - accredited land * 1 * * 1 1 * 1 * * consultant cciM - certified commercial 1 1 * 1 2 1 * 1 * * investment Member ciPs - certified international 1 1 * 1 1 1 * 1 * 1 Property specialist cPM - certified Property * 1 * 7 1 * * * * * Manager cRB - certified Real estate 3 5 1 12 4 3 21 12 1 1 Brokerage Manager cRe - counselor of Real estate 1 1 * * 2 1 * 1 * * cRs - certified Residential 10 16 6 7 11 18 12 10 9 3 specialist Gaa - General accredited * * * * * * * * * * appraiser Green Designation 2 2 2 2 2 3 * 4 2 2 GRi - Graduate RealtoR® 21 30 14 27 22 35 29 30 18 7 institute PMN - Performance 1 1 * 3 * 1 * * 1 * Management Network Raa - Residential accredited * * * * * * * 1 * 1 appraiser Rce - RealtoR® association * * * * * * * * * * certified executive sioR - society of industrial * * * * * * * * * * and office RealtoRs® sRes - seniors Real estate 6 6 5 2 4 9 8 5 6 * specialistscertifications No certifications 65 64 65 71 72 56 55 73 64 97 at Home with Diversity 4 4 4 6 3 5 10 4 4 * e-Pro 11 13 10 1 9 17 20 7 11 * RePa - Real estate Profes- 5 3 7 8 3 3 10 5 6 2 sional assistant RsPs - Resort & second Home 1 1 1 1 1 1 * 2 1 * specialist short sales and foreclosures 21 23 20 14 18 27 24 19 21 * (sfR) tRc - transnational Referral 1 2 1 * 2 2 4 1 1 1 certification* Less than 1 percent20 National association of RealtoRs® | Member Profile 2011
  22. 22. National Association of REALTORS®Exhibit 1-24 RELOCATiON ACTiViTy OF REALTORS® (Percentage Distribution) LICENSED AS REAL ESTATE EXPERIENCE ALL REALTORS® Broker/ Broker Associate Sales Agent 2 years or less 3 to 5 years 6 to 15 years 16 years or moreRealtoRs®’s firm have a relocation department or business development department responsible for relocation activitiesYes 38% 33% 44% 35% 34% 39% 40%No 52 62 42 43 50 52 54Don’t know 10 6 14 22 16 10 6Exhibit 1-25 WiLL REMAiN ACTiVE AS A REAL ESTATE PROFESSiONAL duRiNg THE NExT TWO yEARS (Percentage Distribution) ALL REALTORS® LICENSED AS REAL ESTATE EXPERIENCE 2011 Survey 2010 Survey Broker/ Broker Associate Sales Agent 2 years or less 3 to 5 years 6 to 15 years 16 years or moreVery certain 73% 74% 75% 72% 70% 74% 74% 73%somewhat certain 18 18 17 18 19 17 18 17Not certain 9 8 9 10 11 9 8 10 National association of RealtoRs® | Member Profile 2011 21
  23. 23. Chapter 2:Business Activity of REALTORS®T he business activity of REALTORS® in 2010 was largely spent maintaining the status quo as the real estate market continued to steady and improve. Members typically had a slight improvement in the number of transactionscompleted in 2010 from 2009, but saw a slight decline in sales volume. Thetightening of the credit market reduced consumers ability to obtain a mortgage.Median weekly hours worked by the typical REALTOR® was unchanged from theprevious four years. The typical REALTOR® had fewer clients who were foreignnationals or whose primary language was not English. However, REALTORS® whospoke a language other than English reported a higher share of clients who spoke aforeign language.Websites were not a major source of business, although REALTORS® who investedmore heavily in their website reported a greater number of inquiries and business.22 National Association of REALTORS® | Member Profile 2011
  24. 24. National Association of REALTORS® forty-nine percent of brokerage specialists did not complete a foreclosure transaction in 2010. thirty-eightAPPRAiSAL SPECiALiSTS percent of brokerage specialists completed between one and• Exhibits 2-1 through 2-3 five foreclosure transactions, and 13 percent had six or more Nine in ten appraisal specialists appraise one to four unit transactions. likewise, 56 percent of brokerage specialistsresidential properties. the share of RealtoRs® who appraise did not participate in a short-sale transaction, and 38 percentother properties and land stayed fairly steady from the prior participated in one to five short-sale transactions. Brokersyear. the typical specialist appraised 200 properties in 2010— and broker associates were more likely than sales agents tothe same as in 2009. Residential appraisal specialists typically participate in a foreclosure or a short sale transaction.appraised 230 properties in 2010, and nearly one-third had no When it comes to listings, Realtor.com was the numberother real estate activities in 2010. one site where brokerage specialists placed their listings (82 percent). the firms website followed closely behind (81 percent).BROkERAgE SPECiALiSTS• Exhibits 2-4 through 2-16 PROPERTy MANAgEMENT thirty-three percent of RealtoRs® practice single agency,32 percent practice buyer and seller agency with disclosed • Exhibits 2-17 through 2-19dual agency, 18 percent practice transactional agency, and 10 the typical property management specialist managed 25percent practice buyer agency exclusively. properties in 2010. this continues a two-year decline. in 2009, in 2010, the typical agent had eight transactions—an the typical property management specialist managed 33increase from seven transactions in 2009. in 2010, the properties and in 2008 the typical property manager managedmedian number of their own listings a residential specialist 40. Residential specialists managed a median of 12 properties,sold was one, compared to selling four of others listings. compared with commercial specialists who managed a medianRealtoRs® with two years of experience or less had a median of 39 properties. the four most commonly reported tasks ofof three transactions, compared to brokerage specialists with property managers are selecting tenants, collecting rent,sixteen years of experience or more who had a median of ten marketing, and taking tenant applications. eight in ten propertytransactions. the median sales volume for brokerage specialists management specialists were active in the single-familywas slightly less than the previous year at $1.1 million. market. six in ten managed some multi-family properties, and about one-quarter were active in office property management. similar to the residential side, commercial specialistshad an increase in the number of transactions, but not theoverall sales volume. commercial specialists typically hadeight transactions in 2010, an increase from six in 2009. HOuRS WORkEd PER WEEkcommercial specialists reported a median transaction volume • Exhibit 2-20of $1.3 million—the same level as the prior year. the typical RealtoR® worked 40 hours per week in 2010, for the second year RealtoRs® reported that the most a trend that has continued for several years. Managers who sellcited reason for limiting potential clients was the difficulty had the highest median hours worked at 48 hours per week,in obtaining mortgage financing. More than one-quarter of while sales agents had the least at 35 hours per week.members reported the most important factor limiting clientswas the expectation that prices might fall further. National association of RealtoRs® | Member Profile 2011 23
  25. 25. 2011 Member Profile • chapter 2: Business activity of RealtoRs®REPEAT BuSiNESS ANd REFERRALS LANguAgE ANd NATiONALiTy• Exhibits 2-21 through 2-24 • Exhibits 2-27 through 2-28 the typical RealtoR® earned 18 percent of their business seventy-two percent of RealtoRs® had no clients whofrom past clients and customers, and although the percentage were foreign nationals, and 21 percent of RealtoRs® had fewervaries across specialties, this share that is consistent from the than 10 percent. similar to last year, 44 percent of RealtoRs®prior year. as expected, experienced RealtoRs® reported a had no clients whose primary language was not english.greater share of repeat business from clients or referrals. Repeatbusiness has also held steady from the prior year at 19 percent.Repeat business was more common among RealtoRs® withmore experience (a median of 35 percent for those with 16 or WEBSiTE BuSiNESS ACTiViTymore years of experience, compared to 6 percent for those • Exhibits 2-29 through 2-33with three to five years of experience. the typical RealtoR® spent $250 to maintain a website in 2010. the typical member brought in three inquiries and 3 percent of their business from their website. Brokers tend to spend more on their websites, while sales agents tend toOPEN HOuSES spend the least amount on websites. Not surprisingly, those• Exhibits 2-25 through 2-26 who spent the most on websites also got the highest number While open houses are a useful tool for home buyers to of inquiries and the largest percent of their overall businesscompare and contrast home features and neighborhoods, of driven by website traffic.residential brokerage specialists surveyed only 34 percentsaid they received some business from an open house. in mostcases it was less than 10 percent of all business. sixty-sevenpercent of agents reported no business as a result of openhouses, and this varied little by years of experience.24 National association of RealtoRs® | Member Profile 2011
  26. 26. National Association of REALTORS®Exhibit 2-1 APPRAiSAL: TyPES OF PROPERTiES APPRAiSEd (Percent of Respondents, Appraisal Specialists only) 2011 Survey 2010 SurveyResidential (1 to 4 units) 90% 95%agricultural land and farms 36 33commercial (retail, office, shopping centers, etc.) 28 26Residential (5 or more units) 28 23industrial (manufacturing, warehouses, etc.) 25 21institutional (hospitals, schools, etc.) 13 11other 14 7Exhibit 2-2 APPRAiSAL: NuMBER OF PROPERTiES APPRAiSEd (Percentage Distribution, Appraisal Specialists only) ALL APPRAISAL SPECIALISTS In 2010 In 2009 RESIDENTIAL APPRAISAL SPECIALISTS9 or fewer 2% 5% 2%10 to 24 4 2 225 to 49 5 5 250 to 99 11 11 8100 to 199 22 26 23200 to 299 26 19 29300 to 399 12 19 13400 or more 18 14 22Median (properties) 200 200 230 National association of RealtoRs® | Member Profile 2011 25
  27. 27. 2011 Member Profile • chapter 2: Business activity of RealtoRs® Exhibit 2-3 APPRAiSAL: OTHER REAL ESTATE ACTiViTiES OF APPRAiSAL SPECiALiSTS, 2010 (Percent of Respondents, Appraisal Specialists only) ALL RESIDENTIAL APPRAISAL SPECIALISTS APPRAISAL SPECIALISTSResidential brokerage 11% 25%commercial appraisal 8 10Residential appraisal 13 N/acounseling 15 13commercial brokerage 11 9Residential property management 1 1Relocation 4 5land/development 5 4commercial property management 7 8auction 1 1international * 1other 5 4None 27 32* Less than 1 percentN/A - Not Applicable Exhibit 2-4 BROkERAgE: AgENCy RELATiONSHiPS (Percentage Distribution, Brokerage Specialists only) ALL REALTORS® RESIDENTIAL SPECIALISTS Broker/ Broker Commercial 2011 Survey 2010 Survey All Associate Sales Agent Specialistssingle agency 33% 29% 33% 30% 36% 23%Buyer agency and seller agency 32 41 32 34 30 42with disclosed dual agencyBuyer agency exclusively 10 11 10 9 11 9transactional agency 18 10 18 19 17 16seller agency exclusively 7 7 6 8 5 11other 1 1 1 1 1 ** Less than 1 percent26 National association of RealtoRs® | Member Profile 2011
  28. 28. National Association of REALTORS®Exhibit 2-5 BROkERAgE: LiSTiNgS SOLd, 2010 (Percentage Distribution, Brokerage Specialists only) NUMBER OF OWN NUMBER OF OWN LISTINGS NUMBER OF OTHERS’ALL REALTORS® LISTINGS SOLD SOLD BY SOMEONE ELSE LISTINGS SOLD0 listings 42% 26% 16%1 listing 16 13 102 listings 12 12 113 listings 7 8 104 listings 4 6 85 listings 5 7 86 to 10 listings 9 17 2211 listings or more 6 13 16Median listings (2010) 1 2 4Median listings (2009) 1 3 4Residential Specialists0 listings 42% 26% 15%1 listing 16 13 102 listings 12 12 113 listings 7 8 104 listings 4 6 85 listings 4 7 86 to 10 listings 8 17 2211 listings or more 6 13 17Median listings (2010) 1 3 4Median listings (2009) 1 3 5Commercial Specialists0 listings 23% 27% 19%1 listing 12 13 112 listings 14 16 143 listings 10 8 104 listings 9 4 65 listings 8 7 76 to 10 listings 16 15 2111 listings or more 8 9 12Median listings (2010) 3 2 3Median listings (2009) 3 2 2 National association of RealtoRs® | Member Profile 2011 27
  29. 29. 2011 Member Profile • chapter 2: Business activity of RealtoRs® Exhibit 2-6 BROkERAgE: NuMBER OF TRANSACTiON SidES OR COMMERCiAL dEALS, 2010 (Percentage Distribution, Brokerage Specialists only) ALL REALTORS® RESIDENTIAL SPECIALISTS Broker/ Broker In 2010 In 2009 All Associate Sales Agent Commercial Specialists0 transactions 8% 12% 8% 6% 10% 6%1 to 5 transactions 29 30 29 23 33 326 to 10 transactions 23 19 23 24 22 2311 to 15 transactions 14 13 14 15 13 1316 to 20 transactions 9 8 9 9 8 821 to 50 transactions 14 14 14 18 11 1551 transactions or more 4 3 4 5 2 4Median (transactions) 8 7 8 10 7 8 Exhibit 2-7 BROkERAgE: NuMBER OF TRANSACTiON SidES OR COMMERCiAL dEALS, By ExPERiENCE, 2010 (Percentage Distribution, Brokerage Specialists only) REAL ESTATE EXPERIENCE ALL REALTORS® 2 years or less 3 to 5 years 6 to 15 years 16 years or more0 transactions 8% 19% 8% 6% 7%1 to 5 transactions 29 53 30 27 246 to 10 transactions 23 17 28 24 2211 to 15 transactions 14 5 15 15 1616 to 20 transactions 9 3 9 10 921 to 50 transactions 14 3 9 16 1651 transactions or more 4 1 1 3 6Median (transactions) 8 3 7 9 10 Exhibit 2-8 BROkERAgE: NuMBER OF TRANSACTiON SidES iNVOLViNg PROPERTiES iN FORECLOSuRE, 2010 (Percentage Distribution, Brokerage Specialists only) RESIDENTIAL SPECIALISTS ALL REALTORS® All Broker/ Broker Associate Sales Agent Commercial Specialists0 transactions 49% 48% 44% 51% 61%1 to 5 transactions 38 38 39 38 326 to 10 transactions 7 7 9 6 511 to 15 transactions 2 3 3 2 116 to 20 transactions 1 2 2 1 *21 transactions or more 3 3 4 2 1Median (transactions) 1 1 1 * ** Less than 1 percent28 National association of RealtoRs® | Member Profile 2011
  30. 30. National Association of REALTORS®Exhibit 2-9 BROkERAgE: NuMBER OF TRANSACTiON SidES iNVOLViNg PROPERTiES iN FORECLOSuRE, By ExPERiENCE, 2010 (Percentage Distribution, Brokerage Specialists only) REAL ESTATE EXPERIENCE ALL REALTORS® 2 years or less 3 to 5 years 6 to 15 years 16 years or more0 transactions 49% 69% 49% 43% 50%1 to 5 transactions 38 26 38 42 366 to 10 transactions 7 2 7 8 811 to 15 transactions 2 1 2 3 216 to 20 transactions 1 1 1 1 221 transactions or more 3 1 3 3 3Median (transactions) 1 0 1 1 1Exhibit 2-10 BROkERAgE: NuMBER OF TRANSACTiON SidES iNVOLViNg SHORT SALES, 2010 (Percentage Distribution, Brokerage Specialists only) RESIDENTIAL SPECIALISTS ALL REALTORS® All Broker/ Broker Associate Sales Agent Commercial Specialists0 transactions 56% 56% 53% 57% 70%1 to 5 transactions 38 38 39 37 266 to 10 transactions 4 4 4 3 411 transactions or more 3 3 3 2 *Median (transactions) 0 0 0 0 0* Less than 1 percentExhibit 2-11 BROkERAgE: NuMBER OF TRANSACTiON SidES iNVOLViNg SHORT SALES, By ExPERiENCE, 2010 (Percentage Distribution, Brokerage Specialists only) REAL ESTATE EXPERIENCE ALL REALTORS® 2 years or less 3 to 5 years 6 to 15 years 16 years or more0 transactions 56% 75% 57% 51% 57%1 to 5 transactions 38 24 38 41 376 to 10 transactions 4 1 3 4 411 transactions or more 3 * 2 4 2Median (transactions) 0 0 0 0 0* Less than 1 percent National association of RealtoRs® | Member Profile 2011 29

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