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2021 Profile of Real Estate Firms

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E186-02-21
Author:
NAR
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    In partnership with the Right Tools, Right Now Program this product is FREE.

    The 2021 Profile of Real Estate Firms examines real estate firms: their characteristics, business activity, education and training they offer employees, and their outlook. Some of the findings include:

    • The typical residential firm had been operating for 16 years (up from 14 years), while the typical commercial firm had been operating for 30 years (up from 23 years).
    • Firms typically generated 30% of their sales volume from past client referrals, 30% from repeat business from past clients, 10% from their website, and 10% through social media.
    • The most common benefit that firms offered to independent contractors, licensees, and agents was errors and omissions/liability insurance at 42%.
    • 38% of firms reported they were actively recruiting sales agents in 2021.
    • Maintaining sufficient inventory, housing affordability, and competition from nontraditional market participants were among the biggest challenges cited for firms in the next two years.
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In partnership with the Right Tools, Right Now Program this product is FREE.

The 2021 Profile of Real Estate Firms examines real estate firms: their characteristics, business activity, education and training they offer employees, and their outlook. Some of the findings include:

  • The typical residential firm had been operating for 16 years (up from 14 years), while the typical commercial firm had been operating for 30 years (up from 23 years).
  • Firms typically generated 30% of their sales volume from past client referrals, 30% from repeat business from past clients, 10% from their website, and 10% through social media.
  • The most common benefit that firms offered to independent contractors, licensees, and agents was errors and omissions/liability insurance at 42%.
  • 38% of firms reported they were actively recruiting sales agents in 2021.
  • Maintaining sufficient inventory, housing affordability, and competition from nontraditional market participants were among the biggest challenges cited for firms in the next two years.
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    This information was phenomenal

    Posted by Unknown on 08/12/2022

    The information in this document allows Brokers to stay on the cutting edge.

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