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 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 21 st Century  Nine out of ten Realtors ® communicate by 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 , often both together.

Many Realtors ® consider residential brokerage their primary specialty… 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: Source: 2008 NAR Member Profile

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