Real Estate Firms Remain Small and Traditional

Report:  Real Estate Firms Remain Small and Traditional

NAR has released its annual “Profile of Real Estate Firms.”  The trade association’s snapshot of the industry finds:

üThe typical residential real estate firm handled a median of 25 transaction sides in 2012, representing a dollar volume of $4.4 million.

ü10 percent of a firm’s median sales volume was generated by a website, but less than one percent came from social media.

üFirms with three or more offices obtained five percent of their business through social media.  The vast majority of sales were from prior relationships with clients and from referrals.

ü84 percent of firms are independent, non-franchised companies.

üThe typical real estate firm has been in business for 13 years.

ü80 percent of firms operate out of a single office and have a median of two licensees.

üEight percent of firms have four or more offices, but have a median of 100 licensees.

Source:  Old Republic National Title Insurance Company, Real Estate Digest, December 2013, Volume 39, Number 12

Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties. Employees of Title Junction can also act as a witness in courtesy closings as well as an escrow agent or a notary public.  Please contact Jennifer Ferri of Title Junction, LLC for further information @ 239-415-6574 or www.title-junction.com