The Colorado Association of Realtors –CAR recently completed a phone survey of their members to see, among other items, what their thoughts were about the current state of the economy and how they felt about Real Estate in the next year.
The demographics were particularly interesting to me. 31% of the respondents work less than 20 hours per week as a Realtor. 57% of these have another occupation. Only 47% worked a minimum of 40 hours per week at their Real Estate craft.
23% reported that they earned less than$15,000 in 2009. 53% earned $50,000 or less. I guess that might answer the perception that all Realtors are rich and drive BMW’s. 24% say they were involved in 5 or fewer transactions in the past year. 33% say they were involved in 16 or more transactions. How much do you wish to bet that this last group is the group that works a minimum of 40 hours per week?
30% of Realtors surveyed have less than 5 years of tenure as a licensed Real Estate Agent. 82% are optimistic about the upcoming year in their local markets. The biggest issue that they report to face is the current state of lending.
As a member of the National Association of Exclusive Buyer’s Agents I can comfortably state that these demographics would simply not fit our profiles. Most EBA’s have been in the Real Estate business for decades and are dedicated to full time dedication to their craft. Along the way they saw too many examples of poor or no representation for the Buyer and decided that this end of a Real Estate Transaction needed proper representation also.
