Today’s Realtors®: Experience is a Key to Success

Highlights from The NATIONAL ASSOCIATION OF REALTORS® 2008 Member Profile

Dedicated Realtors® Are Getting Results The typical Realtor® has been in the

business for eight years. Realtors® with more experience

typically completed more transactions, and had higher sales volumes, particularly through referrals from past clients.

The median gross income of Realtors® with at least 16 years of experience is about five times greater than those with two or fewer years of experience.

Source: 2008 NAR Member Profile

Experience Pays Off:

Exhibit 3-16

Annual Income of Realtors®, By Experience (2007)

“[People] are wise in proportion not to their experience but to their capacity for experience.”

-Dr. Samuel Johnson,Writer and Critic

The Technological Edge: Technology is increasingly important to

Realtors®’ success; most Realtors®

increasingly use e-mail nearly as frequently as cell phones.

Six in 10 Realtors® have a Web site for business purposes, and roughly nine of 10 Realtors® report their firm has a Web site.

Virtually all REALTORS® used the Internet to promote their listings, and most relied on multiple Web sites. Four out of five placed their listings on REALTOR.com®.

Source: 2008 NAR Member Profile

Real Estate is a high-tech, high-touch business

Welcome to the 21st Century Nine out of ten Realtors®

communicate by e-mail nearly every day.

Roughly four in 10 Realtors® stay in touch via smartphone with wireless internet capabilites.

The most popular way to communicate with clients is via telephone, followed closely by e-mail, often both together.

Many Realtors® consider residential brokerage their primary specialty…

Exhibit 1-2SPECIALTY AND MAIN FUNCTION OF REALTORS®

(Percentage Distribution)

All REALTORS® Broker

Broker Associate

Sales Agent Appraiser

Primary Real Estate SpecialtyResidential brokerage 76% 75% 85% 77% 3Commercial brokerage 4 8 4 2 *Residential appraisal 3 1 1 1 85Commercial appraisal * * * * 12Other specialties 5 5 4 6 *

Main FunctionBroker-Owner (with selling) 14% 55% 3% 1% 1Broker-Owner (without selling) 1 5 * * *Associate broker 10 11 47 1 *Manager 4 6 8 3 1Sales agent 63 16 38 91 2Appraiser 2 * * * 95Other 5 7 4 5 *

Licensed as:

Source: 2008 NAR Member Profile

…And Are Compensated in a Variety of Ways:

Source: 2008 NAR Member Profile

Taking Care of Business Half of all Realtors® are affiliated with

an independent non franchised firm, while four out of 5 work as independent contractors.

About one-third of Realtors® had clients who are not citizens or permanent US residents.

Thirty percent of all Realtor® business is from referrals or repeat business from previous clients.

“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.”

-Jeff Bezos, founder of Amazon.com

Today’s Realtor®… The average Realtor® is

52 years old and works 40 hours or more a week.

Nine in 10 Realtors® own their own home.

Over one-third of Realtors® report that they had a prior career in management, business, finance or sales.

Realtors® Are Largely Well Educated

Exhibit 5-7

Source: 2008 NAR Member Profile

…They Are Also Well-Informed:

Realtors ® participate in the political process more than many other segments of the population. 95 percent of Realtors ® are registered to vote – in comparison to 66 percent for the US as a whole. Nine out of 10 Realtors ® voted in the last election.

Fifteen percent of Realtors ® are fluent in a language other than English, and one out of three have clients who are foreign nationals.

Realtors® Are Optimistic About the Future:

Exhibit 1-27WILL REMAIN ACTIVE AS A REAL ESTATE PROFESSIONAL DURING THE NEXT TWO YEARS(Percentage Distribution)

All REALTORS®

Broker/ Broker

AssociateSales Agent

2 years or less

3 to 5 years

6 to 15 years

16 years or more

Very certain 77% 81% 75% 75% 74% 79% 80%Somewhat certain 19 14 19 18 20 16 14Not certain 6 5 7 6 6 5 6

Real Estate ExperienceLicensed as:

Source: 2008 NAR Member Profile

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