In December 2020, Real Estate Express teamed up with RISMedia to reach out to thousands of licensed real estate professionals in the third 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 free 12-page report. While some insights remained the same from last year’s survey, there were others that were a bit more surprising. Below are some highlights from the guide.
1. Real estate earnings are up year-over-year.
Despite fluctuations in the real estate market, 65% of real estate agents reported earning more in 2019 than they did in 2018, which is up 8 percentage points from the previous year. Likewise, 78% of real estate brokers report earning more in 2019 than they did the previous year, up 13 points from the previous year.
2. Top earners set goals for themselves.
We asked participants to assess themselves on their goal setting capabilities. Those who responded as experts in goal setting earned an average of $41,00 more compared to those who indicated that they fail at setting goals. Whether it’s determining how many sales you want to close in a year or how many leads you want to acquire each week, giving yourself an ambitious yet attainable goal can help keep you motivated and productive.
3. The COVID-19 pandemic did not affect the amount of work agents and brokers acquired.
We asked participants if they have had less or more business as a result of the COVID-19 pandemic. Overall, we found that the COVID-19 pandemic has not had much of an impact on real estate professionals in terms of the amount of business acquired. While safety precautions such as social distancing have made activities such as door-knocking, open houses and networking in person more difficult, lower mortgage rates and technology advances allowed most real estate professionals to conduct business as usual.
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 earning an average $50,000 more per year compared to those who indicated that they failed in this area.
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.
Real Estate Express is the nation’s premier online real estate school, providing pre- and post-licensing courses, continuing education courses, and professional development to hundreds of thousands of real estate agents across the country. RealEstateExpress, along with its sister schools McKissock Learning, Superior School of Real Estate, Allied Schools, The Institute for Luxury Home Marketing and Hondros Education Group, helps real estate professionals achieve sustainable success throughout each stage of their real estate career.