Optimism is abundant among real estate firms across the country, according to the NAR 2013 Profile of Real Estate Firms, which found that 69 percent of all firms expect profitability to grow over the coming year.
Real estate tends to be an entrepreneurial field, and most real estate firms are small independently run companies that specialize in residential brokerage. Eighty-four percent of real estate firms are independent and non-franchised companies; while 13 percent are independent franchises. The remaining are subsidiaries of regional or national corporations.
Independent firms usually have lower sales volumes and fewer agents; in fact, 80 percent of real estate firms operate out of a single office with a median of two licensees. Only 8 percent of firms have four or more offices, with a median of 100 licensees.
- “A day in the life…”
Talk to a Realtor® about their business practices. How optimistic are they about the current market and the coming year? Are they part of a small independent firm or a larger, franchised firm? Find out what a typical day is like in the life of a Realtor®. Does anything surprise you?