The National Association of Realtors (NAR) is looking to debunk some of the myths in the real estate industry with its new report. 2018 saw a 6% increase in the number of members of the association, bringing the total number to 1.3 million. As the real estate industry grows, NAR feels it must clear the air about the following common misconceptions about their members:
1.) “Realtors only work part-time”
Realtors have a slightly unusual work schedule compared to most jobs. Their hours can be flexible and they may have to work late nights or weekends. As a result, many people are quick to assume that realtors only work part-time. NAR’s survey showed, however, that a majority of realtors are actually working 40 hours per week.
2.) “Realtors did not attend college”
Many states do not require a degree in order to become a real estate agent. This leads people to believe that almost every realtor is uneducated. However, this survey found that most realtors have, indeed, attended college, earning degrees in areas such as business, finance, management, sales, and retail.
3.) “Realtors have multiple jobs”
Since many people believe that realtors only work part-time, they also assume that they have more than one job. In reality, almost 72% of realtors in this survey claimed that real estate is their only job.
4.) “Realtors do not have sufficient experience”
Despite the growing number of people joining the industry, the survey revealed that most realtors have close to a decade of experience. This includes buying and selling homes for others as well as personal experience of owning a home.
5.) “Realtors are behind on technology”
It remains a fact that the entirety of the real estate industry is lagging behind technologically speaking. It may take some time before we see this myth entirely debunked. However, progress is being made, as a large portion of realtors are taking advantage of the technology they currently have access to. To put this in perspective, about half of the realtors surveyed have had a website for about five years and more than half are using Facebook and LinkedIn for business use.
After reviewing this survey, it is evident that many people are guilty of following stereotypes. The NAR’s survey helps shine a light on the truth behind these myths of the industry.
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