Fifteen months after the historic Obergefell v. Hodges Supreme Court ruling on marriage equality, 20 percent of LGBT real estate agents said the court decision has affected their clients’ decision to buy or sell a home, while 28 percent said current anti-LGBT legislation has affected their clients’ choice of communities in which to buy, according to a poll by the National Association of Gay & Lesbian Real Estate Professionals (NAGLREP). The results of the annual poll of NAGLREP members were released this week at the 2016 National LGBT Real Estate Conference in Fort Lauderdale.
One third of the association’s members participated in the survey that is used to take a pulse of LGBT business gained through the association’s directory and to track trends that may influence the market.
“The incidence of gay marriage is on the rise and the rate of self-identification is up to 7 percent,” says Jeff Berger, NAGLREP founder & CEO. “These variables along with the increase in anti-LGBT state legislation contribute to a marketplace in dynamic evolution.”
Other highlights from the survey include:
- 66% of members are gay, 18% are lesbian, 11% are gay-friendly, 3.5% are bisexual and 0.5% are transgender
- 77% are real estate agents; 16% are brokers, 3% are mortgage professionals, 4% other
- 78% of respondents do residential transactions; 22% do commercial and residential transactions
- 71% self-identify as LGBT or gay-friendly and promote themselves as such
- 90% of members, with membership tenure of one year or more, close 1-3 transactions per year; 8% close 4-6 transactions and 2% close 7-10 transactions per year through the directory at naglrep.com
- 38% of members who answered the poll report they make over $150,000 per year; 22% make between $100,000 and $149,999; while 26% report they earn between $50,000 and $99,000.
- 51% of respondents say their typical clients are move-up buyers; 31% work with first-time homebuyers; 7% work with clients that are downsizing, 8% work with vacation home buyers and 2% work with investors.
- 79% of respondents agree that their alliance with a national LGBT real estate association gives them added credibility with their LGBT clients
- 80% look more favorably on corporate brands that support NAGLREP.
For more information, visit http://www.naglrep.com.