Member Profile 2010

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Member Profile 2010

  1. 1. <ul><li>2010 Member Profile </li></ul><ul><li>Webinar </li></ul><ul><li>Jessica Lautz </li></ul><ul><li>May 20, 2010 </li></ul>
  2. 2. Methodology <ul><li>93 question survey </li></ul><ul><li>Mailed hard copy to 58,022 members </li></ul><ul><li>Emailed copy to 43,869 members </li></ul><ul><li>Received 6,830 surveys </li></ul><ul><li>Response rate of 6.7 percent </li></ul><ul><li>Incentive a drawing for $$ </li></ul><ul><li>Oversamples: 8 states and 2 locals </li></ul>
  3. 3. Business Characteristics
  4. 4. What do our members do? <ul><li>25 percent brokers </li></ul><ul><li>17 percent broker associates </li></ul><ul><li>59 percent sales agents </li></ul>
  5. 5. Primary Specialty Area
  6. 6. Secondary Specialty Area
  7. 7. Years of Experience in Real Estate
  8. 8. Number of Personal Assistants ALL REALTORS® Broker-Owner (without selling) Broker-Owner (with selling) Associate Broker Manager (without selling) Manager (with sellling) Sales Agent None 83% 64% 70% 82% 71% 73% 87% One 14 32 24 15 16 18 11 Two 2 3 4 2 2 6 1 Three or more 1 2 2 1 10 2 0
  9. 9. Make a Difference <ul><li>25 percent members of an affiliate </li></ul><ul><li>44 percent have a designation </li></ul><ul><li>24 percent have a certification </li></ul>
  10. 10. Will Remain Active in Real Estate for Two More Years by Experience All Members 2 years or less 3 to 5 years 6 to 15 years 16 years or more Very certain 74% 69% 72% 75% 76% Somewhat certain 18 23 20 17 17 Not certain 8 8 8 8 7
  11. 11. Business Activity
  12. 12. Business Activity 2009 Survey 2010 Survey Properties appraised 200 200 Transaction sides 7 7 Percent of members who had a transaction involving a foreclosure 41% 48% Percent of members who had a transaction involving a short sale 28% 40% Brokerage sales volume $1.2 million $1.2 million Number of properties managed 40 33
  13. 13. Transaction Sides
  14. 14. Most Important Factor Limiting Clients RESIDENTIAL SPECIALISTS   ALL REALTORS® All Broker/ Broker Associate Sales Agent Commercial Specialists Difficulty in obtaining mortgage finance 34% 33% 34% 32% 48% Expectation that prices might fall further 23 23 22 23 19 Low consumer confidence 13 13 16 11 12 Difficulty in finding the right property 11 12 9 13 8 No factors are limiting potential clients 7 7 7 8 7 Concern about losing job 6 6 6 6 1 Ability to sell existing home 1 1 1 1 0 Expectation that mortgage rates might come down 0 0 0 1 1 Other 5 5 5 6 3
  15. 15. How Recent Home Buyers are Viewing Their Home Purchase
  16. 16. Where Clients Come From <ul><li>18 percent repeat business from past clients </li></ul><ul><li>20 percent referrals </li></ul><ul><li>Only 36 percent of members report any business from an open house </li></ul>
  17. 17. Technology
  18. 18. Changes in Technology Communication Source 2009 Survey 2010 Survey Realtor website 60% 63% Realtor blog 7 10 Realtor blog for members 29 and younger 6 18 Use of social media 35 51 Use of social media for members 50 to 59 32 52
  19. 19. Blog Use ALL REALTORS® AGE 2010 Survey 2009 Survey 29 or younger 30 to 39 40 to 49 50 to 59 60 or older Have a blog 10% 7% 18% 16% 12% 9% 6% Do not have a blog 77 80 63 67 71 78 85 Do not have a blog, but plan to in the future 12 13 17 16 16 12 8
  20. 20. Social Media Use ALL REALTORS® 29 or younger 30 to 39 40 to 49 50 to 59 60 or older Yes 51% 79% 72% 63% 52% 34% No 36 12 19 25 36 51 No, but plan to in the future 12 8 8 12 11 14
  21. 21. Firm Web Presence
  22. 22. Median Amount Spent on Website
  23. 23. Inquiries from Website ALL REALTORS® Broker-Owner (without selling) Broker-Owner (with selling) Associate Broker Manager (without selling) Manager (with sellling) Sales Agent None 27% 16% 24% 20% 17% 19% 31% 1 to 5 inquiries 35 25 31 36 31 33 37 6 to 10 inquiries 12 4 10 15   19 12 11 to 20 inquiries 9 6 10 10 10 6 8 21 to 50 inquiries 7 12 10 7 8 10 6 51 to 100 inquiries 4 6 6 5 7 2 3 More than 100 inquiries 6 31 9 7 26 10 4 Median (inquiries) 4 20 4 4 12 5 3
  24. 24. Inquiries from Website by the Amount Spent to Maintain
  25. 25. Percent of Business from Website by the Amount to Maintain
  26. 26. Income and Expenses
  27. 27. Compensation Structures REAL ESTATE EXPERIENCE ALL REALTORS® 2 years or less 3 to 5 years 6 to 15 years 16 years or more Percentage commission split 69% 83% 80% 69% 60% 100% Commission 18 9 12 19 22 Commission plus share of profits 3 3 3 3 3 Salary only 2 1 1 2 2 Salary plus share of profits/production bonus 3 2 1 2 5 Share of profits only 1 1 0 0 2 Other 4 3 2 4 6
  28. 28. Commission Split by Years of Experience
  29. 29. Median Gross Annual Income, 2009
  30. 30. Median Net Annual Income, 2009
  31. 31. Median Gross Annual Income, 2009
  32. 32. Median Net Annual Income, 2009
  33. 33. Expenses in 2009 Total Expenses $5,480 Business Use of Vehicle 1,580 Technology 720 Professional Development 700 Administrative 690 Marketing of Services 690 Median percent spent on online marketing 10 percent Business Promotion 670 Affinity/Referral Relationship 0 Office/Lease Building 0
  34. 34. Office and Firm Affiliation
  35. 35. Where do our members work?
  36. 36. What type of firm? <ul><li>Typical firm size 29 brokers and agents </li></ul><ul><ul><li>Typical firm has 1 office </li></ul></ul><ul><ul><li>Typical office size has 24 brokers and agents </li></ul></ul><ul><li>5 years typical tenure at firm </li></ul><ul><li>12 percent worked at a firm that was bought or merged </li></ul>
  37. 37. Relationship to the Firm
  38. 38. Benefits from the Firm   2010 Survey Employees Independent Contractors Paid vacation/sick days 12% 40% 10% Errors and omissions (liability insurance) 11 28 10 Health insurance 6 45 2 Pension/SEP/401(K) 3 31 1 Life insurance 3 31 1 Dental insurance 3 28 1 Disability insurance (long-term care) 2 19 1 Vision care 3 20 1 Other 2 5 1 None 73 30 77
  39. 39. Demographics
  40. 40. Who are our members? <ul><li>Typical member: </li></ul><ul><ul><li>54-years-old </li></ul></ul><ul><ul><li>57 percent are female </li></ul></ul><ul><ul><li>48 percent at least a Bachelor’s degree </li></ul></ul><ul><ul><li>1/3 had a prior career in management, business, financial and sales/retail </li></ul></ul><ul><ul><li>77 percent real estate is only occupation </li></ul></ul><ul><ul><li>Household income in 2009--$89,100 </li></ul></ul><ul><ul><li>45 percent real estate is primary source of income for household </li></ul></ul>
  41. 41. Where to Find Your Copy Via the “Right Tools, Right Now” webpage: http://www.realtor.org/prodser.nsf/RightTools/ResearchTools?OpenDocument OR Via the Realtor.org Store: http://www.realtor.org/prodser.nsf/products/E186-45-09?OpenDocument

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