What brokers think

So we did this survey of managing brokers, see, to find out all sorts of things about how the economy is affecting them — whether they’ve closed an office, changed their ad spending, and so on.

You know you’re interested.

What’d we learn?

43 percent of them reduced the number of licensed Realtors working for them. (But almost 23 percent increased the number of Realtors in their offices.)

Stressful? You bet — 23% "Seriously considered leaving real estate as a profession" and 21% "Seriously considered selling or merging" their firm. Oh, and 79% earned less money than in the previous 12 months. Ouch.

And yet, despite all this the outlook was positive.

Almost two-thirds of brokers who have been in business more than 12 years — the most experienced folks — think the economy has already turned the corner or will turn it before the end of the year.

How about this: Click here to download a three-page PDF of the survey results.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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One Response to What brokers think

  1. I can certainly feel the pain that some brokers and firms are going through and have witnessed a few mergers in our area. Luckily, for us, we fell into Property Management and High-End Leasing right toward the top of the boom.(Sometimes, when I’m feeling especially bold, I tell people we saw it coming all along!)

    Anyway, I think the key to long term survival in any business is make sure you are diversified and don’t have too much exposure in any one market segment. Whether its condos, first-time buyers, new homes or rentals. The key is to “Generalize”. I know that goes against the grain of all the guru-hype about specialization and all, but I think this market turn has proven it a solid business principle.

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