60% of REALTORS® Make the Deals
Forty percent of REALTORS® did not close a single transaction in the first six months of this year, according to a newly released REALTOR® Productivity Study of Multiple Listing Service activity conducted by the WAV Group and sponsored by the REALTORS Property Resource®. The survey reflects responses from nearly 335,000 REALTORS®.
“We thought the numbers would reflect the 80/20 rule,” says Marilyn Wilson, WAV Group founding partner who oversaw the study for RPR®. “In reality, it looks like a new 60 percent rule is the true standard for real estate.”
The study also found about 60 percent was the same percentage of REALTORS® who are logging into the MLS system daily. For brokerages, the statistic could be an important factor when judging new technology or systems to implement for employees, Wilson says.
“If only 60 percent of your target audience is actively logging into the MLS system every day, the likelihood they are going to be seeking out and adopting new technologies beyond the MLS is pretty slim, so why should they be counted? You need to based your benchmark on the 60 percent of your audience that is actually doing business,” Wilson says.
The study also found that REALTORS® tend to be optimistic about the direction of their local housing markets, despite continued inventory challenges. Twenty-nine percent of REALTORS® surveyed say they are “very optimistic” about their local markets while 71 percent say they are “cautiously optimistic.” None of the REALTORS® surveyed said they are “not at all optimistic.”
Their optimism comes at a time when low housing inventory problems persist. More than 80 percent of the REALTORS® surveyed categorized their local inventory as “somewhat” or “very” limited, while fewer than one in five said their local inventory is “not limited.”
For more articles like this please visit www.realtor.org