Small Companies Still Surviving in Real Estate
NAR has released a new “Profile of Real Estate Firms” that provides a sort of measuring stick for brokerages to see how they are doing compared to the averages.
According to the survey:
- The typical residential broker’s sales volume was $4.7 million in 2013, while the typical commercial brokerage volume was $4.3 million.
- About 35 percent of sales volume typically came from past client referrals, 30 percent from repeat business, 10 percent from their website and five percent through social media.
- 81 percent of brokerages have one office and two full-time licensees, seven percent have four or more offices with 92 full-time licensees.
- 59 percent of brokerages said their biggest concern was the inability of Millennials to buy.
- 45 percent of firms said they are recruiting sales agents, with 87 percent of those firms reporting business growth as their primary reason for adding staff.
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Small Companies Still Surviving in Real Estate
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