2. Methodology
gy
• 93 question survey
93 question survey
• Mailed hard copy to 58,022 members
• Emailed copy to 43,869 members
il d 3 869 b
• Received 6,830 surveys
• Response rate of 6.7 percent
• Incentive a drawing for $$
Incentive a drawing for $$
• Oversamples: 8 states and 2 locals
6. Secondary Specialty Area
y p y
Relocation 21%
Commercial brokerage
Commercial brokerage 22%
Residential property management 18%
Counseling 15%
Land development
L dd l 13%
Residential brokerage 11%
Commercial property management 4%
Residential appraisal 3%
International 3%
Auction 3%
Commercial appraisal 1%
Other 4%
None/Nothing 3%
0 5 10 15 20 25 30 35 40
7. Years of Experience in Real Estate
25 23
20
20 19
15
12
10
10
7
5
0
All Realtors Broker‐Owner Broker‐Owner Associate Sales Agent Appraiser
(without (with selling) Broker
selling)
8. Number of Personal Assistants
Broker-
Broker Broker-
Broker
Owner Owner Manager
ALL (without (with Associate (without Manager Sales
REALTORS® selling) selling) Broker selling) (with sellling) 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. Make a Difference
• 25 percent members
25 percent members
of an affiliate
• 44 percent have a
44 percent have a
designation
• 24
24 percent have a
h
certification
10. Will Remain Active in Real Estate
for Two More Years by Experience
16 years or
All Members 2 years or less
All Members 2 years or less 3 to 5 years 6 to 15 years
3 to 5 years 6 to 15 years more
Very certain 74% 69% 72% 75% 76%
Somewhat
Somewhat
certain 18 23 20 17 17
Not certain 8 8 8 8 7
12. Business Activity
2009 Survey
2009 Survey 2010 Survey
2010 Survey
Properties appraised 200 200
Transaction sides
Transaction sides 7 7
Percent of members who had a 41% 48%
transaction involving a foreclosure
Percent of members who had a 28% 40%
transaction involving a short sale
Brokerage sales volume $1.2 million $1.2 million
Number of properties managed 40 33
13. Transaction Sides
9
9
8
8
7
7
6
6
5
4
3
3
2
1
0
All Realtors 2 years or less 3 to 5 years 6 to 15 years 16 years or
more
14. Most Important Factor Limiting
p g
Clients
RESIDENTIAL SPECIALISTS
RESIDENTIAL SPECIALISTS
ALL Broker/ Broker Sales Commercial
REALTORS® All Associate Agent Specialists
Difficulty in obtaining
mortgage finance
mort a e finan e 34% 33% 34% 32% 48%
Expectation that prices might
fall further 23 23 22 23 19
Low consumer confidence
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
potential lients 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
Expectation that mortgage 0 0 0 1 1
rates might come down
Other 5 5 5 6 3
15. How Recent Home Buyers are
y
Viewing Their Home Purchase
Both Primarily as a
Primarily as a
40% way to satisfy
their desire to be
homeowners
55%
Primarily as a
financial
investment
5%
16. Where Clients Come From
• 18 percent repeat
18 percent repeat
business from past clients
• 20 percent referrals
20 percent referrals
• Only 36 percent of
members report any
b
business from an open
house
18. Changes in Technology
g gy
Communication Source 2009 Survey 2010 Survey
Realtor website 60% 63%
Realtor blog 7 10
Realtor blog for members 6 18
29 and younger
Use of social media 35 51
Use of social media for 32 52
members 50 to 59
19. Blog Use
g
ALL REALTORS®
ALL REALTORS® AGE
2010 2009
Survey Survey 29 or younger 30 to 39 40 to 49 50 to 59 60 or older
Have a blog
H bl 10% 7% 18% 16% 12% 9% 6%
Do not have a blog 77 80 63 67 71 78 85
12 13 17 16 16 12 8
Do not have a blog,
Do not have a blog,
but plan to in the
future
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 12 8 8 12 11 14
in the future
21. Firm Web Presence
Firm does not
Fi d t
have Web site
Firm does not but plans to in
have Web site, the future, 2%
8%
Firm has Web
site, 89%
22. Median Amount Spent on Website
p
$400 $380
$370
$350
$300
$
$300
$250
$240
$250 $230
$220
$200 $
$170
$150
$100
$
$50
$0
In 2009 In 2008 Broker‐Owner Broker‐Owner Associate Manager Manager Sales Agent
(without (with selling) Broker (without (with sellling)
selling) selling)
24. Inquiries from Website by the
q y
Amount Spent to Maintain
16
16
14
12
10
8
6 5
4 4
4 3
2
0
0
ALL
ALL None Less than
Less than $100 to
$100 to $500 to
$500 to $1,000 or
$1 000 or
REALTORS® $100 $499 $999 more
25. Percent of Business from Website
by the Amount to Maintain
19%
20%
18%
16%
14%
12%
9%
10%
8% 6%
5%
6%
4%
4%
2% 0%
0%
ALL None Less than $100 to $500 to $1,000 or
REALTORS® $100 $499 $999 more
27. Compensation Structures
p
REAL ESTATE EXPERIENCE
ALL 16 years or
REALTORS® 2 years or less 3 to 5 years 6 to 15 years more
Percentage
commission split
commission split 69% 83% 80% 69% 60%
100% Commission 18 9 12 19 22
Commission plus 3 3 3 3 3
share of profits
share of profits
Salary only 2 1 1 2 2
Salary plus share of 3 2 1 2 5
p
profits/production
/p
bonus
Share of profits 1 1 0 0 2
only
Other 4 3 2 4 6
28. Commission Split by Years of
p y
Experience
80% 74% 75%
70% 70% 70% 70%
70% 65%
60% 60%
60% 55%
50%
40%
30%
20%
10%
0%
ALL REALTORS® 2 years or less 3 to 5 years 6 to 15 years 16 years or more
Median year‐starting percentage commission split
Median year‐ending percentage commission split
30. Median Net Annual Income, 2009
,
$35,000 $31,900
$30,000
$23,400 $23,200
$25,000
$20,000 $17,200
$15,000
$10,000
$5,000
$
$0
In 2009 In 2008 Broker/ Broker Sales Agent
Associate
31. Median Gross Annual Income, 2009
,
$60,000
$52,300
$50,000
$41,200
$40,000 $35,700 $36,700
$30,000 $25,400
$20,000
$8,800
$8 800
$10,000
$0
In 2009 In 2008 2 years or 3 to 5 6 to 15 16 years or
less years years more
32. Median Net Annual Income, 2009
,
$34,000
$34 000
$35,000
$30,000 $27,100
$23,400
$23 400
$25,000
$20,000 $16,400
$15,000
$10,000 $7,500
$5,000
$0
ALL
ALL 2 years or
2 years or 3 to 5 years 6 to 15 years 16 years or
3 to 5 years 6 to 15 years 16 years or
REALTORS® less more
33. Expenses in 2009
p
Total Expenses $5,480
Business Use of Vehicle 1,580
Technology 720
Professional Development
P f i lD l 700
Administrative 690
g
Marketing of Services 690
Median percent spent on online marketing 10 percent
Business Promotion 670
Affinity/Referral Relationship 0
Office/Lease Building 0
35. Where do our members work?
Non‐franchised
Franchised subsidiary of a
subsidiary of a Other
national or regional
national or regional 1%
corporation
corporation 4%
9%
Independent, non‐
Independent,
Independent franchised company
p y
franchised company 54%
32%
36. What type of firm?
yp
• Typical firm size 29 brokers
Typical firm size 29 brokers
and agents
– Typical firm has 1 office
Typical firm has 1 office
– Typical office size has 24
brokers and agents
brokers and agents
• 5 years typical tenure at
firm
• 12 percent worked at a firm
that was bought or merged
th t b ht d
40. Who are our members?
• Typical member:
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
b i fi i l d l / il
– 77 percent real estate is only occupation
– Household income in 2009 $89 100
Household income in 2009‐‐$89,100
– 45 percent real estate is primary source
of income for household
41. Where to Find Your Copy
py
Via the “Right Tools, Right
Right Tools
Now” webpage:
http://www.realtor.org/prodser.nsf/
RightTools/ResearchTools?Open
Document
OR
Via the Realtor.org Store:
http://www.realtor.org/prodser.nsf/
products/E186-45-
09?OpenDocument
