You are currently browsing the tag archive for the ‘real estate agents’ tag.

Even though income and sales volume of REALTORS® have dropped slightly in the past year, membership in the National Association of REALTORS® has increased, as more younger agents continue to enter the industry. According to the “2018 National Association of REALTORS® Member Profile,” membership increased 6 percent from 1.22 million in March 2017 to 1.30 million in April 2018.

“Younger Americans are seeking business opportunities that working in real estate provides,” said NAR chief economist Lawrence Yun. But Yun also noted the overall trend is still a slightly older age profile.

Members of NAR account for about half of all active real estate licensees in the U.S. REALTORS® go beyond state licensing requirements by subscribing to NAR’s Code of Ethics and standards of practice and committing to continuing education.

“All real estate licensees are not the same. Only real estate licensees who are members of the National Association of REALTORS® are properly called REALTORS®. They display the REALTOR® logo on their business card or other marketing material,” explained Bill Moody, president of the Silicon Valley Association of REALTORS®. The REALTOR® association has over 4,500 REALTORS® and affiliate members engaged in the business of real estate on the Peninsula and in the South Bay.

“REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are required to complete a two and a half hour Code of Ethics course every two years,” said Moody.

The NAR member survey found the median age of REALTORS® was 54 this year, slightly up from 53, the last two years. Sixty-three percent of realtors are female. The typical REALTOR® is a 54-year-old white female who attended college and is a homeowner.

Sixty-five percent of REALTORS® are licensed sales agents, 21 percent hold broker licenses, and 15 percent hold broker associate licenses. New members tended to be more diverse than more experienced members. Twenty-five percent with two years of experience or less were minorities, up from 22 percent last year.

According to Moody, the national survey reflects the profile of incoming members in the local REALTOR® group, which has over 4,500 members. “Our new members definitely reflect a younger and more diverse group of agents,” said Moody.

Impacted by low inventory, the typical number of transactions decreased slightly from 12 transactions in 2016 to 11 transactions in 2017. REALTORS® said the main factors limiting potential clients in completing transactions are difficulty finding the right property (35 percent), housing affordability (17 percent), and difficulty in obtaining mortgage financing (12 percent).

 

 

Advertisements

There’s an optimism in the air. It’s quite evident in attendance at the different SILVAR district meetings. It’s also evident in the attitudes and points of view of the various speakers at each of SILVAR’s districts.

Left to right: Chris Trapani (Sereno Group), John Thompson (Intero Real Estate), Bill Lewis (Alain Pinel Realtors) and Fred Hibbert (Coldwell Banker)

The first 2011 Los Altos/Mountain View District tour meeting took place last Friday with a good attendance and a broker/manager panel, which included Chris Trapani (Sereno Group), John Thompson (Intero Real Estate), Bill Lewis (Alain Pinel Realtors) and Fred Hibbert (Coldwell Banker). 2011 District Chair Denise Welsh, who served as moderator, asked the brokers to share their greatest challenges, advice to agents for positioning buyers (and sellers) in 2011, and valuable traits they look for in an agent.

For Fred Hibbert, the greatest challenge is managing expectations of buyers and sellers.

Bill Lewis said it’s staying on top of the market. “Success is preparation and opportunity. You need to know the market,” he stressed.

John Thompson said knowledge and skills in the industry are important. An agent needs to be objective and focus on what he/she should improve.

Chris Trapani said it’s important for him as a manager to see growth in his office. His goal is to have his agents succeed. He especially wants to coach agents who have not yet experienced levels of success and guide them to a place of stability.

What is the panel’s advice to agents for 2011? Hibbert advised agents to study the information, be knowledgeable about the market, and know the stats.

“Stats are important and talking points are important,” confirmed Lewis. Armed with this knowledge, Lewis said agents can discuss real estate and show their knowledge to everyone, even while waiting in line in the supermarket.

“Have patience,” Lewis added. “You have to understand your clients and help your clients understand the market and manage their expectations.”

Thompson said there’s no excuse for agents to be operating without stats. Agents have access to the data and need to be able to explain the short and long-term impact on value in the different neighborhoods.

As for valuable traits the managers look for in an agent, Trapani said he looks at the agent’s track record, and most of all, he looks for a “culture fit” in his company.

Thompson looks for intangibles, especially personality. “If a person knows what they want to get out of this business, I can help them with a business plan. They have to know what they want,” Thompson stressed.

Lewis looks for a high level of honesty, integrity and fair dealing in an agent. It’s his foundation to building a culture in the office. The agent would need to get along with others in the office.

Hibbert wants the agent to have a game plan and goals.

A red flag to these managers is when the agent immediately wants to know what the deal is, and does not express much interest in the company’s philosophy.

The brokers are very optimistic about 2011. Enjoy the ride, be prepared, focus on what you want, but you have to work. Get out there, get the inventory, get the listings, they said.

September 2018
M T W T F S S
« Aug    
 12
3456789
10111213141516
17181920212223
24252627282930

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 58 other followers

Advertisements