Real Estate Agents or REALTORS® There is a difference?

 

Who Are REALTORS®? NAR Member Profile Breaks It Down

By Liz Dominguez

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Oftentimes, the term REALTOR® (NAR) is used interchangeably with real estate agent. However, the two are not the same—REALTORS® are real estate agents, but not all agents are REALTORS®. The National Association of REALTORS® recently assembled a clear picture of who a REALTOR® is through its 2021 Member Profile.

The biggest difference? They are real estate professionals who became members of the National Association of REALTORS® and must abide by their Code of Ethics. Overall, membership has increased—to 1.48 million at the end of 2020, up from 1.4 million at the end of 2019).

“REALTORS® continued to serve clients’ needs despite the challenges 2020 brought to the real estate market,” said Jessica Lautz, NAR vice president of demographics and behavioral insights. “Economic lockdowns and historically low inventory coupled with surging home-buying demand only showed the resilience of our members and industry.”

Here are their standout licensing characteristics:

– 68% hold their sales agent license (up from 65% last year)
– 20% hold their broker license
– 13% hold their broker associate license
– 73% specialize in residential brokerage
– Secondary focus areas include residential property management, commercial and relocation

In terms of business activity:

– They typically earned 15% of the business from past clients
– More experienced agents (16 years or more) received 37% of business from past clients
– The median gross income was $43,330 (down from $49,700 in 2019)
– Only one out of four earned $100,000 or more

On average, the typical member closed 10 real estate transactions and $2.1 million in sales volume in 2020, down from 12 transactions and $2.3 million sales volume in 2019.

When looking at demographics:
– 78% were white, 9% were Hispanic/Latino, 7% were Black/African American and 6% were Asian/Pacific Islanders
– 65% were women, and the median age was 54

“REALTORS® come from all walks of life and serve as pillars in their respective communities,” said NAR President Charlie Oppler, a REALTOR® from Franklin Lakes, New Jersey and the CEO of Prominent Properties Sotheby’s International Realty. “As champions for consumers, REALTORS® combine hard work, dedication and trusted expertise to help individuals and families achieve the dream of property ownership.”

To view the full report, click here.

For more information, please visit www.nar.realtor.
 
Liz Dominguez is RISMedia’s senior online editor. Email her your real estate news ideas to lizd@rismedia.com.

Protect yourself from hackers

 

Protect yourself from hackers

You may have seen the recent headlines about a cyberattack using fake emails that looked like they were from a government agency. Unfortunately, hacking is on the rise, and it isn't always governments and large corporations that need to be on the lookout for suspicious emails - everyone can be a target for scams and hackers. Here are some things to keep an eye out for, when determining if an email is legitimate or not. No legitimate business will ever ask you for your password in an email. Not us, and especially not your bank or credit card issuer. If you get an email asking you to reset your password DO NOT CLICK ANY LINKS in the email. If you are worried that there may be a legitimate problem, call the bank/business (look up the phone number, don't use one from the suspicious email) or visit their website by typing the web address in a new window. Look for odd spelling or syntax errors. This one won't catch more sophisticated scams, but can be a quick tipoff. Scammers definitely don't take the time to proofread emails that legitimate businesses do. If the grammar or spelling is weird or looks like it was poorly translated, don't click anything in the email. Check before you click. Links in emails or web pages don't always go where they say they do. You can check before you click, though - in many programs if you hover over a link without clicking it, a popup will appear telling you where that link will actually take you. If a link will take you somewhere unexpected, don't click it. Is it an email you were expecting? Check the sender - is it from a place you do business with, or are used to getting emails from? If the sender or the content of the email seems like it is from out of nowhere, it probably is. Send it to Spam! If you spot a fraudulent email, don't just delete it, send it to the Spam or Junk folder in your email program. Doing this will train the spam filters in your email to better spot the bad ones and filter them out before you see them.

3 Things To Prioritize When Selling Your House

 

Today’s housing market is full of unprecedented opportunities. High buyer demand paired with record-low housing inventory is creating the ultimate sellers’ market, which means it’s a fantastic time to sell your house. However, that doesn’t mean sellers are guaranteed success no matter what. There are still some key things to know so you can avoid costly mistakes and win big when you make a move.

1. Price Your House Right

When inventory is low, like it is in the current market, it’s common to think buyers will pay whatever we ask when setting a listing price. Believe it or not, that’s not always true. Even in a sellers’ market, listing your house for the right price will maximize the number of buyers that see your house. This creates the best environment for bidding wars, which in turn are more likely to increase the final sale price. A real estate professional is the best person to help you set the best price for your house so you can achieve your financial goals.

2. Keep Your Emotions in Check

Today, homeowners are living in their houses for a longer period of time. Since 1985, the average time a homeowner owned their home, or their tenure, has increased from 5 to 10 years (See graph below):This is several years longer than what used to be the historical norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. If it’s the first home you purchased or the house where your children grew up, it very likely means something extra special to you. Every room has memories, and it’s hard to detach from that sentimental value.

For some homeowners, that connection makes it even harder to separate the emotional value of the house from the fair market price. That’s why you need a real estate professional to help you with the negotiations along the way.

3. Stage Your House Properly

We’re generally quite proud of our décor and how we’ve customized our houses to make them our own unique homes. However, not all buyers will feel the same way about your design and personal touches. That’s why it’s so important to make sure you stage your house with the buyer in mind.

Buyers want to envision themselves in the space so it truly feels like it could be their own. They need to see themselves inside with their furniture and keepsakes – not your pictures and decorations. Stage, clean, and declutter so they can visualize their own dreams as they walk through each room. A real estate professional can help you with tips to get your home ready to stage and sell.

Bottom Line

Today’s sellers’ market might be your best chance to make a move. If you’re considering selling your house, reach out to a local real estate professional to help you navigate through the process and prioritize these key elements.