NAR’s 2013 "Profile of Real Estate Firms" is out (and available free for members), and it’s more than 70 pages of data and stats about real estate firms in the U.S. Here are a few highlights — pick up the full thing through Realtor.org.
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What the firms do: 80% are primarily residential; residential property management, commercial sales, and appraisals are the most popular secondary specialties.
Who owns them: The vast majority are small and independent.
What they expect for 2013:
1. Profitability to increase
2. Competition to increase
Where they work: 59 percent of firms cover a "metropolitan area" (i.e., a city) or region (i.e., a city and its suburbs).
Turn up the volume:
- Five percent of residential and five percent of commercial firms reported no transactions in 2012.
- About half of each type of firm (residential and commercial) have an annual sales volume under $5 million.
Where they market:
- 92 percent of residential firms (83 percent of commercial) put their listings on MLS websites
- 83 percent of residential firms (53 percent of commercial) put them on Realtor.com
- 65 percent of residential firms (19 percent of commercial) use third-party aggregators
- 62 percent of residential firms (56 percent of commercial) put them on their own company websites
- 48 percent of residential firms (31 percent of commercial) put them on social networking sites
Where they (don’t) see results:
- Only 10 percent of customer inquiries come from viewing the firms’ websites.
- Only one percent of inquiries come from viewing firms’ social media efforts
Health coverage… or not: