Alameda, CA (PRWEB) May 11, 2011
Real estate sales professionals are finding the dramatic change in the housing market has led them to work more and earn less in the past year according to new case study release by Inman News, the preeminent leader in real estate news and technology. Inman News found in their annual research report of Real Estate Commissions in 2011 that distressed properties, are taking their toll on compensation. Foreclosed and short sale homes do not pay as much because of discounting and it takes more time to produce a sale.
“The findings in the report, show in the past five years the national median sales price for existing homes has fallen 27 percent, to $177,000, and National Association of Realtors membership has declined 21.4 percent since 2006, to 1.06 million,” Inman News CEO Tim Smith said. “We feel it is more important ever to share this research about commissions and compensation with the real estate community in order to have a dialog about where we see the industry headed in the next five to ten years.”
This survey of real estate compensation reveals a dramatically different picture from the inaugural report in 2006 - the pinnacle of record-breaking U.S. home prices and appreciation rates.
A few highlights of the report include:
- Industry commission income trends show a downward trend.
- Fewer sales per agent 48.3 percent of respondents said they closed fewer than 11 transaction in 2010.
- The nationwide glut of distressed properties and anemic economic growth has affected commissions and compensation.
- The frustration some survey respondents shared about deals falling through in the tough economic environment with some expecting this decade to usher in a new era for real estate compensation.
- The effect of the post-recession era and how it reshaped the landscape of a real estate industry.
This 69-plus-page report was compiled from a comprehensive survey of Inman News readers and subscribers. Respondents represented 47 U.S. states and Washington, D.C., Puerto Rico, New Zealand and Canada. No respondents indicated working in North Dakota, South Dakota or West Virginia. About 40 percent of survey respondents said their real estate work is based in California, Texas, Florida, Arizona and New Jersey.
Go to http://www.inman.com/compensation2011 for a report summary. A comprehensive copy of this report is available to purchase at http://www.inman.com/products/downloads/real-estate-compensation-in-2011. For additional questions or comments, please contact press (at) inman (dot) com or via Twitter @InmanNews.
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