Housing affordability rose to a record high during the fourth quarter of 2011, which means a home buyer’s purchasing power is greater than it ever has been before, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. The index showed that 75.9 percent of all new and existing homes sold in the...
Real estate professionals who earn $100,000 or more per year show quite a few differences in how they do their job and the technology they use compared to real estate professionals who make $30,000 to $50,000 a year, according to a new survey conducted by InmanNext, a Web site operated by Inman News.
Surveying about 1,300 real estate agents, InmanNext found some of the following characteristics common to those who make $100,000 or more per year versus those who make less.
— Close more transactions: Sixty-six percent of real estate agents who make $100,000 or more per year say they closed 20 or more transactions in the year compared to about half of those who earn $30,000 to $50,000 who say they closed 10 or fewer transactions.
— Appeal to the high-end market: High-income agents tended to specialize in luxury homes, condos, and townhouses, and they were less likely to work with first-time buyers or REOs compared to mid-range earners.
— Work longer hours: Forty-two percent of high-income agents say they work between 40 to 50 hours a week, and 41 percent say they work more than 50 hours a week.
— Spend more on marketing: High-income agents tend to spend more money on their marketing. About 62 percent of middle-income agents reported spending less than $2,500 on their marketing for their business. On the other hand, 63 percent of high-income earners said they spent $5,000 or more per year on marketing.
— Spend more on technology: High-income earners also tend to spend more on technology purchases to aid them in their business. More than half said they spend $2,500 or more on technology each year, and a quarter spend $5,000 or more. Meanwhile, about 84 percent of middle-income earners say they spend less than $2,500 on technology purchases a year. As for technology preferences, high-income earners show a preference toward Apple Macintosh computers and iPhones, more so than mid-range earners.
— Use social networking and Web sites: Nearly half of high-income earners say they update their Web site at least a few times a week, while 39 percent of mid-range earners report updating their Web site or blog only once a month. High-income earners are also more connected on Facebook, with nearly half reporting 500 or more friends on Facebook compared to more than two-thirds of middle-income earners who say they have 500 or fewer friends on Facebook. High-income agents also were more likely to have a YouTube account and Twitter account and to have more followers than mid-range earners.
Source: “Survey: High-Income Real Estate Agents Lead the Pack on Technology,” Inman News (Feb. 14, 2012)
If you are looking for a top producing agent, we at North Eastern Group Realty are prepared to assist you with your significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR, visit our website at NorthEasternGroup.com.
North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.