Each year, the National Association of REALTORS® (NAR) comes out with a Member Profile Report. We recently got a look at the 2011 report and found that it reveals much about who REALTORS® are, and how they do business. Read on to learn about your trusted advisor. The numbers may surprise you.
REALTORS® are becoming increasingly experienced. The NAR report states: “The typical member has been in the field for 12 years, compared to eight years in 2008.” While gaining this important experience, many members remained at one firm for five years. This is true despite the fact that “75 percent of members do not receive benefits at their firm.”
REALTORS® are changing their focus to meet the needs of the current economy. In 2010, “the certification for Short Sales and Foreclosures grew from 12 percent to 21 percent of the membership.” While the number of REALTORS® holding the Short Sales and Foreclosures certification has grown the most, many members are seeing the value in added education. About one-third of REALTORS® hold some type of designation or certification. This enhanced training keeps REALTORS® on top of their game and better able to meet the specific needs of their clients.
REALTORS® continue to earn repeat business from clients. REALTORS® work hard to deliver excellent customer service, and their satisfied clients stay loyal through future buying or selling needs. According to the report, “the typical REALTOR® earned 18 percent of their business from past clients and customers.” Are you looking for a REALTOR®? Be sure to ask your friends and family who they worked with; you’ll likely come up with a list of names attached to great reviews.
REALTORS® communicate in all the ways you do. NAR members worked hard in 2010 to customize their communication methods to meet the needs of their clients. Nearly all REALTORS® use email on a daily basis and about three-quarters are finding smart phones helpful for their extremely on-the-go business, with half of REALTORS® utilizing social media. Yes, you’ll be able to find a REALTOR® who communicates the way you do: via texts, emails, social media, and even good old-fashioned phone calls.