Member Profile 2010
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![Page 1: Member Profile 2010](https://reader038.fdocuments.us/reader038/viewer/2022102618/554e1d6ab4c90511778b4c0e/html5/thumbnails/1.jpg)
2010 Member Profile Webinar
Jessica LautzMay 20, 2010
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Methodology
• 93 question survey• Mailed hard copy to 58,022 members• Emailed copy to 43,869 members• Received 6,830 surveys• Response rate of 6.7 percent• Incentive a drawing for $$• Oversamples: 8 states and 2 locals
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Business Characteristics
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What do our members do?
• 25 percent brokers• 17 percent broker
associates• 59 percent sales agents
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Primary Specialty Area
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Secondary Specialty Area
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Years of Experience in Real Estate
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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
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Make a Difference
• 25 percent members of an affiliate
• 44 percent have a designation
• 24 percent have a certification
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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 years16 years or
more
Very certain 74% 69% 72% 75% 76%
Somewhat certain 18 23 20 17 17
Not certain 8 8 8 8 7
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Business Activity
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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
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Transaction Sides
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Most Important Factor Limiting Clients
RESIDENTIAL SPECIALISTS
ALL
REALTORS® AllBroker/ Broker
AssociateSales
AgentCommercial
SpecialistsDifficulty 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 12Difficulty in finding the right property 11 12 9 13 8No 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 0Expectation that mortgage rates might come down
0 0 0 1 1
Other 5 5 5 6 3
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How Recent Home Buyers are Viewing Their Home Purchase
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Where Clients Come From
• 18 percent repeat business from past clients
• 20 percent referrals• Only 36 percent of
members report any business from an open house
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Technology
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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
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Blog Use
ALL REALTORS® AGE2010
Survey2009
Survey 29 or younger 30 to 39 40 to 49 50 to 59 60 or olderHave a blog 10% 7% 18% 16% 12% 9% 6%Do not have a blog 77 80 63 67 71 78 85Do not have a blog, but plan to in the future
12 13 17 16 16 12 8
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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 51No, but plan to in the future
12 8 8 12 11 14
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Firm Web Presence
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Median Amount Spent on Website
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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 33 376 to 10 inquiries 12 4 10 15 19 1211 to 20 inquiries 9 6 10 10 10 6 821 to 50 inquiries 7 12 10 7 8 10 651 to 100 inquiries 4 6 6 5 7 2 3More than 100 inquiries 6 31 9 7 26 10 4Median (inquiries) 4 20 4 4 12 5 3
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Inquiries from Website by the Amount Spent to Maintain
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Percent of Business from Website by the Amount to Maintain
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Income and Expenses
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Compensation Structures
REAL ESTATE EXPERIENCEALL
REALTORS® 2 years or less 3 to 5 years 6 to 15 years16 years or
morePercentage commission split 69% 83% 80% 69% 60%
100% Commission 18 9 12 19 22Commission plus share of profits
3 3 3 3 3
Salary only 2 1 1 2 2Salary 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
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Commission Split by Years of Experience
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Median Gross Annual Income, 2009
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Median Net Annual Income, 2009
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Median Gross Annual Income, 2009
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Median Net Annual Income, 2009
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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
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Office and Firm Affiliation
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Where do our members work?
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What type of firm?
• Typical firm size 29 brokers and agents– Typical firm has 1 office– Typical office size has 24
brokers and agents
• 5 years typical tenure at firm
• 12 percent worked at a firm that was bought or merged
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Relationship to the Firm
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Benefits from the Firm
2010 Survey EmployeesIndependent
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
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Demographics
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Who are our members?
• Typical member: – 54-years-old– 57 percent are female– 48 percent at least a Bachelor’s degree– 1/3 had a prior career in management,
business, financial and sales/retail– 77 percent real estate is only occupation– Household income in 2009--$89,100 – 45 percent real estate is primary source
of income for household
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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