Key takeaways:
Characteristics of Real Estate Firms:
- 80% of real estate firms had a single office, typically with 3 full-time real estate licensees
- 86% of firms were independent non-franchised firms
- The typical residential firm had been operating for 16 years; the typical commercial firm had been operating for 30 years.
Business Activity of Firms
- Firms with one office typically had 19 transaction sides, while firms with four+ offices had 571 transaction sides
- 30% of sales volume is from past clients, 30% is from referrals, 10% is from the firm’s website, and 10% from social media
Read the full report here.