A report from the National Association of Realtors (NAR) released Wednesday discusses the most common professional skills associated with real estate agents as well as their demographics. The report, titled “Choosing a Career in Real Estate: A Perspective on Gender, Race, and Ethnicity” creates a breakdown of how and why professionals get involved in the industry.
“NAR remains committed to ensuring that its membership continues to reflect America’s growing industry” said NAR president William E. Brown, a second generation agent from Alamo, California and founder of Investment Properties. "A career in real estate offers a work environment and diversity of opportunity that attracts all types of individuals, and the report's findings are a reflection of that." Brown said.
According to 144,000 members surveyed, the most important skills needed for a successful career in real estate, specifically residential, are people skills at 86 percent, self-motivation at 84 percent, and negotiation skills at 73 percent.
Nearly 70 percent of NAR members initiated their career on their own, citing interest in the industry, compared to 20 percent who were referred by a friend. More men self-initiated than women, at 69 and 65 percent respectively and more women were referred by a friend at 20 percent compared to 18 percent of men.
Black members self-initiated their career more than any other ethnicity at 75 percent, while Asian and Pacific Islanders had their career in real estate referred by a friend at 27 percent, also more than any other ethnicity. White members made up 82 percent of all NAR members.
Almost 70 percent of agents found flexible hours to be the most attractive aspect of a career in real estate, followed by an interest in the industry at 64 percent, working with people at 54 percent, and half stating an interest in an entrepreneurial field.
The survey was conducted between March and April of 2017. Click here to see the full breakdown and infographic.