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Nar member profile 2011

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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NatioNal associatioN of RealtoRs®


       Member Profile
       2011




The Voice for Real Estate®
2011 OFFiCERS                                    NAR RESEARCH STAFF
President                                        Office of the Chief Economist
Ron Phipps, ABR, CRS, GRI, GREEN, e-PRO, SFR     lawrence Yun, Ph.D.
                                                 Chief Economist and Senior Vice President
President-Elect
                                                 Peter c. Burley, cRe
Maurice "Moe" Veissi
                                                 Director, REALTOR® University
First Vice President
                                                 caroline Van Hollen
Gary Thomas
                                                 Senior Research and Strategic Planning Coordinator
Treasurer
                                                 Survey and Market Research
William J. Armstrong, III, GRI
                                                 Paul c. Bishop, Ph.D.
Immediate Past President                         Vice President
Vicki Cox Golder, CRB                            stephanie Davis
Vice President & Liaison to Committees           Staff Assistant
Elizabeth Mendenhall                             Ken fears
Vice President & Liaison to Government Affairs   Manager, Regional Economics
Vince Malta                                      Danielle Hale
                                                 Research Economist
Chief Executive Officer
Dale 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
NatioNal associatioN of RealtoRs®


Member Profile
2011




©2011 NatioNal associatioN of RealtoRs®
Nar member profile 2011
National Association of REALTORS®


         Contents
introduction ..................................................................................................................................4

Highlights ...................................................................................................................................... 5

chapter 1: Business characteristics of RealtoRs®........................................................... 6

chapter 2: Business activity of RealtoRs®......................................................................22

chapter 3: income and expenses of RealtoRs® .............................................................39

chapter 4: office and firm affiliation of RealtoRs® .....................................................53

chapter 5: Demographic characteristics of RealtoRs® ...............................................63

Methodology ..............................................................................................................................75

list of exhibits ............................................................................................................................76




                                                                                         National association of RealtoRs® | Member Profile 2011             3
2011 Member Profile


Introduction


i
    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 local
plagued with high unemployment conditions. all markets have       markets. Members typically have been with their firm for five
been stalled by the tightening of the mortgage market, which      years and 75 percent of members do not receive benefits at
has 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 recent
sales from 5.2 million sales. Prices of existing homes remained   years from 51 years of age in 2007 to 56 in 2011. the majority of
steady from 2009 to 2010 at $172,900.                             members are women with a college education. experience has
in the winter and spring of 2010, buyers took advantage of        also steadily increased in recent years. the typical member
favorable conditions provided by the Home Buyer tax credit,       has been in the field for 12 years, compared to eight years in
record low mortgage rates, and housing affordability at an        2008. RealtoRs® frequently have had careers in other fields
all 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 marketing
the market in 2010. However, after the close of the tax credit    strategies that buyers are finding useful in their home search
deadline of april 2010, home sales slowed throughout the rest     process, including websites, blogs, and social media. in
of the year.                                                      addition to membership in the NatioNal associatioN
for commercial real estate, 2010 signaled a leveling-off in       of RealtoRs®, real estate professionals have other ways of
previous 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 short
made the multifamily sector especially attractive, leading to     sales and foreclosures grew from 12 percent to 21 percent of
contracting availability and growing rents.                       the membership.
the combination of high demand leveling off and lower prices      looking forward, 73 percent of RealtoRs® are very certain
directly affects RealtoR® income since most real estate           they will remain in the market for two more years. Newer
agents and brokers are compensated on a commission basis.         members in the business are less certain they will remain in
the 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 reported
a median of eight transactions in 2010, which is up slightly
from 2008 and 2009; however, the typical sales volume edged
down to $1.1 million.




    Paul C. Bishop, Ph.D.       Danielle Hale
    Meredith Dunn               Selma Hepp
    Jessica Lautz               Sophia Stuart
    May 2011


4       National association of RealtoRs® | Member Profile 2011

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Nar member profile 2011

  • 1. NatioNal associatioN of RealtoRs® Member Profile 2011 The Voice for Real Estate®
  • 2. 2011 OFFiCERS NAR RESEARCH STAFF President Office of the Chief Economist Ron Phipps, ABR, CRS, GRI, GREEN, e-PRO, SFR lawrence Yun, Ph.D. Chief Economist and Senior Vice President President-Elect Peter c. Burley, cRe Maurice "Moe" Veissi Director, REALTOR® University First Vice President caroline Van Hollen Gary Thomas Senior Research and Strategic Planning Coordinator Treasurer Survey and Market Research William J. Armstrong, III, GRI Paul c. Bishop, Ph.D. Immediate Past President Vice President Vicki Cox Golder, CRB stephanie Davis Vice President & Liaison to Committees Staff Assistant Elizabeth Mendenhall Ken fears Vice President & Liaison to Government Affairs Manager, Regional Economics Vince Malta Danielle Hale Research Economist Chief Executive Officer Dale 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. NatioNal associatioN of RealtoRs® Member Profile 2011 ©2011 NatioNal associatioN of RealtoRs®
  • 5. National Association of REALTORS® Contents introduction ..................................................................................................................................4 Highlights ...................................................................................................................................... 5 chapter 1: Business characteristics of RealtoRs®........................................................... 6 chapter 2: Business activity of RealtoRs®......................................................................22 chapter 3: income and expenses of RealtoRs® .............................................................39 chapter 4: office and firm affiliation of RealtoRs® .....................................................53 chapter 5: Demographic characteristics of RealtoRs® ...............................................63 Methodology ..............................................................................................................................75 list of exhibits ............................................................................................................................76 National association of RealtoRs® | Member Profile 2011 3
  • 6. 2011 Member Profile Introduction i 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 local plagued with high unemployment conditions. all markets have markets. Members typically have been with their firm for five been stalled by the tightening of the mortgage market, which years and 75 percent of members do not receive benefits at has 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 recent sales from 5.2 million sales. Prices of existing homes remained years from 51 years of age in 2007 to 56 in 2011. the majority of steady from 2009 to 2010 at $172,900. members are women with a college education. experience has in the winter and spring of 2010, buyers took advantage of also steadily increased in recent years. the typical member favorable conditions provided by the Home Buyer tax credit, has been in the field for 12 years, compared to eight years in record low mortgage rates, and housing affordability at an 2008. RealtoRs® frequently have had careers in other fields all 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 marketing the market in 2010. However, after the close of the tax credit strategies that buyers are finding useful in their home search deadline of april 2010, home sales slowed throughout the rest process, including websites, blogs, and social media. in of the year. addition to membership in the NatioNal associatioN for commercial real estate, 2010 signaled a leveling-off in of RealtoRs®, real estate professionals have other ways of previous 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 short made the multifamily sector especially attractive, leading to sales and foreclosures grew from 12 percent to 21 percent of contracting availability and growing rents. the membership. the combination of high demand leveling off and lower prices looking forward, 73 percent of RealtoRs® are very certain directly affects RealtoR® income since most real estate they will remain in the market for two more years. Newer agents and brokers are compensated on a commission basis. members in the business are less certain they will remain in the 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 reported a median of eight transactions in 2010, which is up slightly from 2008 and 2009; however, the typical sales volume edged down to $1.1 million. Paul C. Bishop, Ph.D. Danielle Hale Meredith Dunn Selma Hepp Jessica Lautz Sophia Stuart May 2011 4 National association of RealtoRs® | Member Profile 2011
  • 7. National Association of REALTORS® Highlights Business Activity of NAR’s Commercial Members Business 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 member's 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 ownership Business 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 is Income 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
  • 8. 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 recent years as a valuable marketing tool to reach clients. The 2011 survey shows that almost half of REALTORS® reported using social networking websites and an additional 9 percent reported that they do not yet use such sites but plan to do so in the future. This is a steep increase from 2009, when just 35 percent of members 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 Internet capabilities. In addition to membership in the NATIONAL ASSOCIATION of REALTORS®, REALTORS® have other ways of distinguishing themselves, including affiliate memberships, professional designations, and certifications. There were more members with a primary specialty other than any of those suggested in the survey. The share of REALTORS® who obtained the Short Sales and Foreclosure certification saw the largest increase, indicating a rising interest in this issue. There were generally more members with a certification in 2010 than there were in 2009. The most common affiliate memberships reported by members involved residential specialization and buyer's agent representation. Finally, three- quarters of REALTORS® report that they are certain that they will remain in the business. 6 National association of RealtoRs® || Member Profile 2011 Association of REALTORS® Member Profile 2011
  • 9. 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, the yet the share of those holding broker licenses increased by 3 share of members with more years of experience in the percentage points in 2010 from the year before. among the industry increased in 2010. the share of members with 1 to 57 percent of members who hold sales agents licenses, the 5 years of experience fell between 2009 and 2010, from 30 largest share still focuses on residential brokerage. While percent of RealtoRs® in 2009 to 23 percent in 2010. By the about eight in ten members specialize in residential brokerage, same token, the share of members with 6 years of experience there was an increasing tendency among all types of licensees or more jumped from 69 percent in 2009 to 76 percent. on the to 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 more business 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 selling specialize in residential brokerage, but again there is a larger continue to report the most experience, typically 28 and 20 share 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 at among all members are commercial brokerage, relocation, and least 6 years. the broker who sells is the next most experienced commercial property management, there was a significant group, while the typical sales agent has been in the field for 9 jump in the share of members who indicated that they did not years. practice a secondary specialty. that share rose from 3 percent in 2009 to 28 percent in 2010. consequently, the share of While RealtoRs® more generally rely on their primary members with a secondary business specialty declined along business specialty for more than half of their income, the all 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
  • 10. 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 presence However, broker-owners and managers are more likely to have of RealtoRs® is ever more important. While 9 out of 10 an assistant, particular those who are not selling. in 2010, RealtoR’s® firms have a web presence, almost two-thirds of having three or more personal assistants among the same all RealtoRs® reported having a website. appraisers were group became more common than the year before. More the least likely to indicate having a website; though their web tenured members are more likely to use personal assistants as presence has increased from 36 percent last year to 39 percent well. 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 members frequently reported tasks included sending out mailings to still plan on having a website in the future. Nearly two-thirds of past clients or prospects, processing new listings and entering RealtoRs® has had a website for at least five years. Members them in the Mls, managing closing paperwork, and scheduling who have been in the industry the longest are also most likely listing 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 more and independent contractor or employee. Generally they were commercial brokerage specialists did the same on their equally likely to be any of these. almost half of the personal websites. other material presented on their website at least assistants were paid by the RealtoR®, though 37 percent two-thirds of the time includes home buying and selling were paid only by the firm. Nearly one-fifth were paid by both information, mortgage or financial calculators, and links to their the RealtoR® and the firm. in 2010, members were more firm’s website. similar information is contained on commercial likely to share a personal assistant than the year prior. While brokerage websites. almost three-fourths of assistants were exclusive in 2009, only two-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 also COMMuNiCATiONS 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 changed business. With nearly all members reporting daily use of much between the 2010 and 2011 surveys. almost half of email and desktop or laptop computers, three-quarters members are using social media while an additional 9 percent reported daily use of smartphones with wireless email and plan to in the future. in the 2010 survey, only 35 percent of internet capability. this is up from 56 percent in 2009. More RealtoRs® used social networking websites, and 14 percent are also using technologies such as instant messaging, global planned to do so in the future. the use of social networking positioning 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 software daily. other software used regularly includes contact management, document preparation, and electronic contracts and forms. 8 National association of RealtoRs® | Member Profile 2011
  • 11. National Association of REALTORS® MEMBERSHiP iN AFFiLiATES, PROFESSiONAL FiRM’S WEB PRESENCE ANd RELOCATiON dESigNATiONS, 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 ten themselves in a number of other ways, including affiliate RealtoRs® reported that their firms have a web presence, and memberships, 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 department the council of Residential specialists and Real estate Buyer’s responsible for relocation activities. RealtoRs® who have agent council, these being the two most common. By function, been in the field for longer were more likely to be aware of the managers 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 the council of Real estate Brokerage Managers and the council of Residential specialists respectively. about one-third of RealtoRs® held some type of FuTuRE PLANS designation or certification. the most prevalent designations • Exhibit 1-28 were the Graduate RealtoR® institute, accredited Buyer Representative, and certified Residential specialist. among all RealtoRs®, three-quarters were certain they certifications were increasingly more common among both will remain in the business for two more years. Brokers and broker/broker associates and sales agents than in 2009. the broker associates are slightly more certain than sales agents largest increase was in those who hold a certification for short that they will remain in the field—75 percent compared to 72 sales and foreclosures which also became the most common percent. also, members who have less experience are more certification among all types of licensees—in the 2011 survey cautious about staying in the real estate business than their 21 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 common certification was for e-Pro with one in ten members holding it. National association of RealtoRs® | Member Profile 2011 9
  • 12. 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 Appraiser Primary 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 percent 10 National association of RealtoRs® | Member Profile 2011
  • 13. 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 2011 Residential brokerage 75% 76% 81% 76% 79% 79% 80% 79% 78% commercial brokerage 6 6 3 4 5 6 6 7 6 land/Development 4 3 1 3 3 1 3 2 2 Relocation 1 1 2 3 2 * 1 1 1 counseling 1 1 2 3 1 1 1 1 1 appraising 4 4 3 2 1 4 1 1 1 Property management 6 5 4 4 4 1 6 6 7 international Na * * 1 * 3 * * * other 4 3 4 4 4 4 2 3 5 NA - Not Asked * Less than 1 percent Exhibit 1-4 PRiMARy BuSiNESS SPECiALTy OF SALES AgENT LiCENSEES, 1999-2011 (Percentage Distribution) 1999 2001 2003 2005 2007 2008 2009 2010 2011 Residential brokerage 88% 82% 84% 74% 75% 77% 86% 87% 83% commercial brokerage 2 2 2 1 2 2 3 3 3 land/Development 2 2 1 3 3 1 1 1 1 Relocation 1 2 2 5 6 * 2 2 2 counseling 1 3 2 5 4 5 1 1 1 appraising 2 3 3 5 1 4 1 * 1 Property management 2 3 3 3 4 3 4 3 4 international Na * * * 2 2 1 * 1 other 2 3 3 3 4 6 2 2 5 NA - not asked * Less than 1 percent National association of RealtoRs® | Member Profile 2011 11
  • 14. 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
  • 15. 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 Appraiser 1 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 1 4 years 4 5 1 2 3 2 3 6 * 5 years 6 8 * 3 4 * 3 7 1 6 to 10 years 23 22 7 19 20 13 17 27 13 11 to 15 years 11 11 6 12 11 15 12 11 16 16 to 25 years 21 19 20 25 26 30 31 18 26 26 to 39 years 18 15 46 29 26 36 20 12 34 40 or more years 3 2 17 8 3 1 5 1 8 Median (years) 12 10 28 20 17 23 18 9 23 * Less than 1 percent Exhibit 1-7 iNCOME FROM PRiMARy REAL ESTATE SPECiALTy, By yEARS OF ExPERiENCE (Percentage Distribution) REAL ESTATE EXPERIENCE Percent of income from real estate specialty ALL REALTORS® 2 years or less 3 to 5 years 6 to 15 years 16 years or more less than 50% 17% 27% 22% 14% 14% less than 25% 11 23 16 9 9 25% to 49% 5 5 6 5 6 50% to less than 100% 41% 27% 35% 43% 46% 50% to 74% 11 6 10 10 12 75% to 99% 31 21 26 33 34 100% 42 46 43 43 40 Exhibit 1-8 iNCOME FROM PRiMARy REAL ESTATE SPECiALTy, By NuMBER OF HOuRS WORkEd (Percentage Distribution) HOURS WORKED PER WEEK Percent of income from real estate specialty ALL REALTORS® Less than 20 hours 20 to 39 hours 40 to 59 hours 60 hours or more less than 50% 17% 42% 22% 8% 6% less than 25% 11 37 14 3 2 25% to 49% 5 5 8 5 4 50% to less than 100% 41% 23% 39% 47% 50% 50% to 74% 11 6 11 12 10 75% to 99% 31 17 27 36 40 100% 42 35 39 45 45 National association of RealtoRs® | Member Profile 2011 13
  • 16. 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 Agent None 83% 77% 88% 66% 71% 83% 62% 78% 87% one 11 19 10 20 24 15 23 16 11 two 2 3 1 3 3 2 * 4 1 three 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 more None 83% 94% 90% 82% 78% one 14 6 9 15 17 two 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 58 Manage closing paperwork 44 schedule listing presentations, closings, and appointments 43 Photograph listings 41 Place/track advertising of listings 39 order inspections 37 Write ads 33 Prepare comps 33 send progress reports to sellers 30 Prepare escrow files 28 check Mls for expireds 20 check newspapers for fsBos 8 Prospect fsBos 8 other 39 14 National association of RealtoRs® | Member Profile 2011
  • 17. National Association of REALTORS® Exhibit 1-12 CHARACTERiSTiCS OF PERSONAL ASSiSTANTS (Percentage Distribution) licensed 48% license information Unlicensed 52 Paid by RealtoR® 46 salary expenses Paid by company 37 Both 17 full-time 51 employment Part-time 49 exclusive assistant 63 exclusivity shared with others 37 independent contractor 55 employment arrangement employee 45 Hourly 35 salary 23 compensation structure arrangement varies 20 Percent of commission 14 Per task 9 Exhibit 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 Never e-mail 92% 5% 2% 1% 1% laptop/Desktop computer 90 4 2 1 3 cell phone (no email and internet) 68 5 2 1 25 smartphone with wireless email and 72 3 1 * 23 internet capabilities (e.g., treo/BlackBerry) Digital camera 28 25 32 11 5 instant messaging (iM) 30 10 6 4 50 Global positioning system (GPs) 31 23 18 7 21 PDa/Handheld (no phone capabilities) 12 2 1 1 85 Blogs 5 6 9 7 73 Rss feeds 5 4 6 5 81 Podcasts 1 2 6 9 82 * Less than 1 percent National association of RealtoRs® | Member Profile 2011 15
  • 18. 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 Never Multiple listing 69% 15% 7% 4% 6% contact management 27 17 13 8 35 Document preparation 20 24 23 11 23 electronic contract and forms 20 29 27 12 13 comparative market analysis 17 31 31 13 9 transaction management 15 13 11 8 53 customer relationship management 12 13 13 10 53 Graphics or presentation 8 13 24 18 37 Property management 8 5 7 10 69 loan 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
  • 19. 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 Appraiser Have 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 16 Do 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 percent Exhibit 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 more Have 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 27 Do 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 future Exhibit 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 more less than one year 1% 1% 5% 1% 1% * 1 to 2 years 21 24 88 27 12 9 3 to 4 years 16 18 3 48 15 7 5 or more years 63 57 5 25 72 84 Median years 6 5 1 4 6 10 * Less than 1 percent National association of RealtoRs® | Member Profile 2011 17
  • 20. 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 Commercial own property listings 91% 93% 82% information about home buying and selling 81 85 59 Mortgage or financial calculators 67 71 54 link to firm’s website 66 67 60 Virtual tours 52 55 36 community information or demographics 51 54 36 school reports 50 55 30 links to state and local government websites 43 46 33 Home valuation or comparative Market analysis tools 32 34 18 current mortgage rates 32 34 18 links to real estate service providers 29 30 21 links to mortgage lenders’ websites 26 27 11 appointment scheduler 19 20 9 link to commercial information exchange (cie) 4 3 19 other 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 older Have a blog 10% 10% 16% 18% 12% 10% 6% Do not have a blog 81 77 69 66 77 79 88 Do not have a blog, but plan to in the future 9 12 15 15 11 10 6 18 National association of RealtoRs® | Member Profile 2011
  • 21. National Association of REALTORS® Exhibit 1-21 ACTiVE uSE OF SOCiAL OR PROFESSiONAL NETWORkiNg WEBSiTES (Percentage Distribution) Actively use social or AGE professional networking websites: ALL REALTORS® 29 or younger 30 to 39 40 to 49 50 to 59 60 or older Yes 49% 83% 72% 64% 52% 31% No 42 10 20 28 38 58 No, but plan to in the future 9 6 8 8 10 9 Exhibit 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 Sales NAR Affiliates REALTORS® Associate Agent (no selling) (with selling) Broker selling) sellling) Agent Appraiser Not a member of any 77% 69% 83% 73% 75% 68% 65% 74% 79% 97% affiliate cciM institute - certified commercial investment 1 2 1 2 1 2 * 2 1 2 Member cRe - counselors of 1 2 1 1 2 1 3 1 1 * Real estate cRB - council of Real 3 5 1 12 5 3 24 13 1 1 estate Brokerage Managers cRs - council of 12 17 8 8 11 20 17 12 11 3 Residential specialists iReM - institute of Real 1 1 * 6 1 * * * * * estate Management ReBac - Real estate 8 10 7 3 10 11 * 7 8 1 Buyer’s agent council Rli - RealtoRs® land 1 1 * * 1 1 * 1 * * institute sioR - 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
  • 22. 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 Appraiser Designations 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 * specialists certifications 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 percent 20 National association of RealtoRs® | Member Profile 2011
  • 23. 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 more RealtoRs®’s firm have a relocation department or business development department responsible for relocation activities Yes 38% 33% 44% 35% 34% 39% 40% No 52 62 42 43 50 52 54 Don’t know 10 6 14 22 16 10 6 Exhibit 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 more Very certain 73% 74% 75% 72% 70% 74% 74% 73% somewhat certain 18 18 17 18 19 17 18 17 Not certain 9 8 9 10 11 9 8 10 National association of RealtoRs® | Member Profile 2011 21
  • 24. 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 transactions completed in 2010 from 2009, but saw a slight decline in sales volume. The tightening of the credit market reduced consumers' ability to obtain a mortgage. Median weekly hours worked by the typical REALTOR® was unchanged from the previous four years. The typical REALTOR® had fewer clients who were foreign nationals or whose primary language was not English. However, REALTORS® who spoke a language other than English reported a higher share of clients who spoke a foreign language. Websites were not a major source of business, although REALTORS® who invested more heavily in their website reported a greater number of inquiries and business. 22 National Association of REALTORS® | Member Profile 2011
  • 25. National Association of REALTORS® forty-nine percent of brokerage specialists did not complete a foreclosure transaction in 2010. thirty-eight APPRAiSAL 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 specialists residential properties. the share of RealtoRs® who appraise did not participate in a short-sale transaction, and 38 percent other properties and land stayed fairly steady from the prior participated in one to five short-sale transactions. Brokers year. the typical specialist appraised 200 properties in 2010— and broker associates were more likely than sales agents to the 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 number other real estate activities in 2010. one site where brokerage specialists placed their listings (82 percent). the firm's 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 2-19 dual agency, 18 percent practice transactional agency, and 10 the typical property management specialist managed 25 percent 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 33 increase from seven transactions in 2009. in 2010, the properties and in 2008 the typical property manager managed median 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 median RealtoRs® with two years of experience or less had a median of 39 properties. the four most commonly reported tasks of of 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 property transactions. the median sales volume for brokerage specialists management specialists were active in the single-family was 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 specialists had an increase in the number of transactions, but not the overall sales volume. commercial specialists typically had eight transactions in 2010, an increase from six in 2009. HOuRS WORkEd PER WEEk commercial specialists reported a median transaction volume • Exhibit 2-20 of $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 sell cited 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 clients was the expectation that prices might fall further. National association of RealtoRs® | Member Profile 2011 23
  • 26. 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 who from past clients and customers, and although the percentage were foreign nationals, and 21 percent of RealtoRs® had fewer varies 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. Repeat business has also held steady from the prior year at 19 percent. Repeat business was more common among RealtoRs® with more experience (a median of 35 percent for those with 16 or WEBSiTE BuSiNESS ACTiViTy more years of experience, compared to 6 percent for those • Exhibits 2-29 through 2-33 with 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 to OPEN 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 business compare and contrast home features and neighborhoods, of driven by website traffic. residential brokerage specialists surveyed only 34 percent said they received some business from an open house. in most cases it was less than 10 percent of all business. sixty-seven percent of agents reported no business as a result of open houses, and this varied little by years of experience. 24 National association of RealtoRs® | Member Profile 2011
  • 27. National Association of REALTORS® Exhibit 2-1 APPRAiSAL: TyPES OF PROPERTiES APPRAiSEd (Percent of Respondents, Appraisal Specialists only) 2011 Survey 2010 Survey Residential (1 to 4 units) 90% 95% agricultural land and farms 36 33 commercial (retail, office, shopping centers, etc.) 28 26 Residential (5 or more units) 28 23 industrial (manufacturing, warehouses, etc.) 25 21 institutional (hospitals, schools, etc.) 13 11 other 14 7 Exhibit 2-2 APPRAiSAL: NuMBER OF PROPERTiES APPRAiSEd (Percentage Distribution, Appraisal Specialists only) ALL APPRAISAL SPECIALISTS In 2010 In 2009 RESIDENTIAL APPRAISAL SPECIALISTS 9 or fewer 2% 5% 2% 10 to 24 4 2 2 25 to 49 5 5 2 50 to 99 11 11 8 100 to 199 22 26 23 200 to 299 26 19 29 300 to 399 12 19 13 400 or more 18 14 22 Median (properties) 200 200 230 National association of RealtoRs® | Member Profile 2011 25
  • 28. 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 SPECIALISTS Residential brokerage 11% 25% commercial appraisal 8 10 Residential appraisal 13 N/a counseling 15 13 commercial brokerage 11 9 Residential property management 1 1 Relocation 4 5 land/development 5 4 commercial property management 7 8 auction 1 1 international * 1 other 5 4 None 27 32 * Less than 1 percent N/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 Specialists single agency 33% 29% 33% 30% 36% 23% Buyer agency and seller agency 32 41 32 34 30 42 with disclosed dual agency Buyer agency exclusively 10 11 10 9 11 9 transactional agency 18 10 18 19 17 16 seller agency exclusively 7 7 6 8 5 11 other 1 1 1 1 1 * * Less than 1 percent 26 National association of RealtoRs® | Member Profile 2011
  • 29. 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 SOLD 0 listings 42% 26% 16% 1 listing 16 13 10 2 listings 12 12 11 3 listings 7 8 10 4 listings 4 6 8 5 listings 5 7 8 6 to 10 listings 9 17 22 11 listings or more 6 13 16 Median listings (2010) 1 2 4 Median listings (2009) 1 3 4 Residential Specialists 0 listings 42% 26% 15% 1 listing 16 13 10 2 listings 12 12 11 3 listings 7 8 10 4 listings 4 6 8 5 listings 4 7 8 6 to 10 listings 8 17 22 11 listings or more 6 13 17 Median listings (2010) 1 3 4 Median listings (2009) 1 3 5 Commercial Specialists 0 listings 23% 27% 19% 1 listing 12 13 11 2 listings 14 16 14 3 listings 10 8 10 4 listings 9 4 6 5 listings 8 7 7 6 to 10 listings 16 15 21 11 listings or more 8 9 12 Median listings (2010) 3 2 3 Median listings (2009) 3 2 2 National association of RealtoRs® | Member Profile 2011 27
  • 30. 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 Specialists 0 transactions 8% 12% 8% 6% 10% 6% 1 to 5 transactions 29 30 29 23 33 32 6 to 10 transactions 23 19 23 24 22 23 11 to 15 transactions 14 13 14 15 13 13 16 to 20 transactions 9 8 9 9 8 8 21 to 50 transactions 14 14 14 18 11 15 51 transactions or more 4 3 4 5 2 4 Median (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 more 0 transactions 8% 19% 8% 6% 7% 1 to 5 transactions 29 53 30 27 24 6 to 10 transactions 23 17 28 24 22 11 to 15 transactions 14 5 15 15 16 16 to 20 transactions 9 3 9 10 9 21 to 50 transactions 14 3 9 16 16 51 transactions or more 4 1 1 3 6 Median (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 Specialists 0 transactions 49% 48% 44% 51% 61% 1 to 5 transactions 38 38 39 38 32 6 to 10 transactions 7 7 9 6 5 11 to 15 transactions 2 3 3 2 1 16 to 20 transactions 1 2 2 1 * 21 transactions or more 3 3 4 2 1 Median (transactions) 1 1 1 * * * Less than 1 percent 28 National association of RealtoRs® | Member Profile 2011
  • 31. 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 more 0 transactions 49% 69% 49% 43% 50% 1 to 5 transactions 38 26 38 42 36 6 to 10 transactions 7 2 7 8 8 11 to 15 transactions 2 1 2 3 2 16 to 20 transactions 1 1 1 1 2 21 transactions or more 3 1 3 3 3 Median (transactions) 1 0 1 1 1 Exhibit 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 Specialists 0 transactions 56% 56% 53% 57% 70% 1 to 5 transactions 38 38 39 37 26 6 to 10 transactions 4 4 4 3 4 11 transactions or more 3 3 3 2 * Median (transactions) 0 0 0 0 0 * Less than 1 percent Exhibit 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 more 0 transactions 56% 75% 57% 51% 57% 1 to 5 transactions 38 24 38 41 37 6 to 10 transactions 4 1 3 4 4 11 transactions or more 3 * 2 4 2 Median (transactions) 0 0 0 0 0 * Less than 1 percent National association of RealtoRs® | Member Profile 2011 29