Learn. Live. Lead. Life-long Learning and Real

Estate Success

Jessica LautzNovember 9, 2013

Firm Provides Training Programs

2013 Profile of Real Estate Firms

Training and Education Required by Firm

2013 Profile of Real Estate Firms

 New Sales

AgentsExperienced Sales Agents Other Staff

Zero hours 20% 19% 48%1 to 10 12 24 2111 to 20 18 28 1421 to 40 25 20 1241 to 80 17 7 581 to 100 5 1 1100 or more hours 4 1 1Median (hours) 21 12 2

Training Resources Used

 All Firms

One office

Two offic

es

Three offices

Four or more

officesPrivate education or training providers 61% 61% 63% 64% 68%Courses and training through the National Association of REALTORS® 51 54 45 40 44Fellow real estate professionals 48 46 54 58 64Franchise 24 19 38 42 50REALTOR® University 20 21 16 19 14Local college or university 11 12 8 11 9

2013 Profile of Real Estate Firms

Certifications and Designations in Real Estate

2013 Profile of Real Estate Firms

Firm’s Reimbursement Of Educational Activities

 

Full reimburseme

nt

Partial reimburseme

nt

No reimburseme

ntContinuing education to maintain real estate license 9% 10% 81%Real estate sales training 8 16 76Obtaining a designation in real estate 8 14 79Pre-license training 7 11 82Obtaining a certification in real estate 7 13 81Vocational educational programs 3 5 93College degree programs 2 4 94

2013 Profile of Real Estate Firms

Educational Attainment by Members

Degrees Member Commercial Member

High school graduate 9% 5%

Some college/Associate’s Degree

41 31

Bachelor’s Degree 30 35

Some graduate school 8 10

Graduate Degree 13 20

2013 Member Profile and 2013 Commercial Member Profile

Typical Work Week

• Typical member works 40 hours a week in real estate– Managers/appraisers typically 50 hours

• 77% real estate is the only occupation– 65% w/2 years or less experience– 83% of those with 16 years or more

• 47% real estate is primary source of income for household– 64% who work 40+ hours a week– 21% who work -40 hours a week

2013 Member Profile

Gross Annual Income, 2001-2012

2013 Member Profile

Distribution of Income

Gross Income: Before taxes and expenses

ALL REALTORS®

Broker-Owner (witho

ut sellin

g)

Broker-Owner (with

selling)

Associate

Broker

Manager (withou

t selling

)

Manager (with

sellling)

Sales Agent

Appraiser

Less than $10,000 18% 18% 13% 15% 8% 5% 22% 2%$10,000 to $24,999 15 7 10 14 0 6 18 6$25,000 to $34,999 10 10 7 10 9 8 10 5$35,000 to $49,999 12 10 10 15 6 17 12 15$50,000 to $74,999 14 9 16 16 19 22 12 22$75,000 to $99,999 10 7 13 11 28 15 9 15$100,000 to $149,999 9 11 14 7 22 16 9 20$150,000 to $199,999 5 7 9 5 2 4 4 8$200,000 to $249,999 2 3 3 2 5 4 2 4$250,000 or more 4 17 6 5 1 5 3 4

Median $43,500$62,80

0 $66,300 $46,100 $81,900 $66,600$35,70

0$76,20

0

Gross Annual Income by Hours Worked, 2012

2013 Member Profile

Gross Annual Income by Experience, 2012

2013 Member Profile

Years of Experience in Real Estate

2013 Member Profile

Age Rising

2013 Member Profile

Word of Mouth Business

• 42% of member business is from referrals and repeat clients

• 54% of buyers and 64% of sellers used an agent that was referred to them or they had worked with before

• 66% of buyers and sellers only contacted 1 agent

• More then 8 in 10 buyers and sellers would recommend their agent or use again

2013 Profile of Home Buyers and Sellers

Agent Use By Buyer High and Growing

2013 Profile of Home Buyers and Sellers

How Seller Sold Home 1991-2013

What Buyers Want Most From Their Agent

2013 Profile of Home Buyers and Sellers

What Sellers Want Most From Their Agent

• Help seller market home to potential buyers

• Help sell home within specific timeframe

• Help price the home competitively

• Help find a buyer for the home

2013 Profile of Home Buyers and Sellers