New Survey Results Provide Key Insights Into How Real Estate Agents Can Earn More. According to an artile on RISMedia, this past summer, Real Estate Express teamed up with RISMedia, McKissock Learning and Superior School of Real Estate to reach out to thousands of licensed real estate professionals in the second annual State of the Real Estate Profession survey. In this survey, real estate agents and brokers across the United States were asked questions about how much money they earn and what factors contributed to their earnings.
After analyzing the results, Real Estate Express compiled the findings into a 12-page report. While some insights remained the same from last year’s survey (real estate agents still boast a higher career satisfaction rating compared to the average worker in the United States), there were others that were a bit more surprising. Below are some highlights from the guide.
1. Real estate income is on the rise.
Despite fluctuations in the real estate market, 57 percent of real estate agents reported earning more in 2018 than they did in 2017. This statistic is even higher for real estate brokers, with 65 percent of brokers reporting earning more in 2018 than they did the previous year.
2. Top earners set goals for themselves.
In this new question from last year’s survey, we asked participants to assess themselves on their goal-setting capabilities. Those who responded as experts in goal-setting earned an average of $51,675 more compared to those who indicated that they fail at setting goals.
3. It pays to specialize.
Similar to last year’s results, this year’s results clearly show that specializing in a niche is key to earning more income. This year, the most profitable niche was foreign investments with an average income of $111,293, while last year’s most profitable niche was commercial properties with an average income of $91,2018.
4. Investing in yourself is money well spent.
While some individuals may be hesitant to invest in their professional development and education, those who do see significant returns. Participants who indicated that they were experts at investing in professional development reported an average income of $105,959, while those who indicated that they failed in this area reported an average income of $56,111.
The good news is there are many ways you can invest in your professional development. From taking online classes to attending conferences and webinars to having a personal coach guide your way, investing in yourself has never been easier and more affordable.
ARE MICRO-APARTMENTS A SOLUTION FOR AFFORDABLE HOUSING? Accoding to an article in REALTOR Magazine, as housing prices rise, Patrick Kennedy owner and president of Panoramic Interests, a development company in San Francisco, seeks to reduce construction costs and bolster housing inventory through the development of micro-apartments, which range from 160-square-foot studios to 660-square-foot four-bedroom units. Kennedy said micro-apartments are more cost-effective for builders in three primary ways: They tend to be car-free developments, promote economized living spaces (which he calls micro-DNA), and have standardized designs.