2021 Profile of Real Estate Firms

SKU:

E186-02-21

Author:

NAR

About guide

Description
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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guide
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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.