Did You Know: Repeat Business and Referrals

July 7, 2009

By Sophia Stuart, Marketing Associate

IThe typical REALTOR® earned 18 percent of their business from past clients and customers, although the percentage varies across specialties.
Experienced REALTORS® reported a greater share of repeat business from past clients or from referrals; 39 percent of REALTORS® with 16 years or more experience had more than 50 percent of their business from repeat customers. Only 4 percent of those with two years or less experience received more than 50 percent of their business from past clients.
In 2008 a typical REALTOR® reported a median of 19 percent of their business from referrals, down from 30 percent the year before.
Referral business is more common among REALTORS® with more experience (a median of 23 percent for those with 16 or more years experience, compared to 1 percent for those with two years or less experience).
The 2009 NATIONAL ASSOCIATION OF REALTORS® Member Profile, which present the results of NAR’s annual survey of its members, details demographic and business characteristics, and business activity of REALTORS® during the past year.
The NEW 2009 Member Profile is FREE to members and can be found here >
For more research reports and profiles for members to download FREE visit here >

^{Source: NAR 2009 Member Profile}

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