Housing Market Crisis Averted? New Data Shows Real Estate Brokers and Agents Of All Levels Are Optimistic and Getting Creative Despite Downturned Market
AUSTIN, Texas (PRWEB) July 19, 2023 -- New research from AceableAgent, the online real estate school through the digital education provider Aceable, uncovers that despite ongoing volatility, agents and brokers are confident about the state of the market and the future of their career growth. The State of Real Estate 2023 Report analyzes the confidence levels among novice and seasoned real estate agents, revealing optimism in the real estate economy: an overwhelming 97% majority said they can still create opportunities to make money in a declining market. More than half (58%) of agents and brokers agree that the current market is improving, while 83% report feeling confident it will improve in the next six months.
The real estate market and competition have seen downturns like no other, yet novice and expert agents alike are maintaining a sense of positivity nonetheless. Despite unprecedented and turbulent seasons, 82% of agents believe that, overall, real estate is still a promising career path. Eighty-eight percent of agents and brokers note they feel satisfied with their careers in real estate, and those with over six years of experience are 24% more likely than newcomers to say they are very satisfied.
“The world of real estate is always in a state of change, which makes the career path, exciting, and challenging for new entrants and veteran leaders alike,” said Chris Heller, real estate agent veteran and advisor to AceableAgent. “As someone who has seen countless industry highs and lows first hand, Aceable’s new report highlights the positive spirits among both new and seasoned agents and proves that despite the recent challenges posed by inflation and inventory, professionals are maintaining momentum, creativity, and innovative confidence as they move further into 2023.”
Key findings of the report include:
Agents and Brokers Aren’t Missing a Beat
Real estate professionals are finding creative solutions to maintain a steady business. To combat the rise in interest rates, 83% say it’s important to provide creative financing options to clients. And to successfully navigate the market, real estate professionals cite identifying emergent trends (86%) and understanding market fluctuations (85%) as critical skills. Furthermore, new real estate and property technology like rental websites and listing inventories have impacted and expanded the industry’s competition, timeline, and accessibility. As a response, in order to strengthen their business and gain the upper hand, two in five agents and brokers are focusing on developing digital marketing skills and 36% are investing in marketing efforts and/or attending professional development events in 2023.
The report highlights how priorities and concerns vary by tenure. While agents as a whole are focused on digital growth, half (50%) of the seasoned agents believe new agents should focus on their communication skills in order to be successful. That said, 76% of novice agents today worked in another industry before pursuing real estate and 96% of those say their previous experience provided them with transferable skills to succeed, signaling a successful career in real estate is attainable for every professional even during a downturned market.
Seasoned Agents Leverage and Share Their Experience
Whether agents or brokers are on their first day or celebrating their tenth anniversary, the data reveals all real estate professionals have something to learn from their peers. Ninety-two percent of seasoned agents say building a strong network is essential to survival in a down market. Among those respondents, 59% consider that a strong network positively impacts the number of referrals received by an agent, 52% think it enables them to provide superior service to customers, and 49% agree it accelerates new customer acquisition. When asked why they stay in such a competitive and ever-changing field, seasoned agents cited earning opportunities as the top reason they continue to pursue real estate careers, reassuring both novice agents and those considering a real estate journey that there is profit to be made.
Methodology
Findings for Aceable’s The State of Real Estate 2023 Report are based on a survey of more than 600 Americans, aged 18 and up, who are employed as real estate agents and/or brokers. For more information and to read the full report visit: here.
About Aceable
AceableAgent is a digital education provider built by experts in learning science that provides current and aspiring real estate professionals with the required pre-licensing and continuing education courses they need to be successful. For more than a decade, AceableAgent has empowered over 225 thousand students with the expertise and confidence to achieve their career goals. AceableAgent is available in select states like Texas, Georgia, Florida, and more. For more information, visit http://www.aceableagent.com
Collyn, Kickstand for Aceable, http://aceable.com, 512-934-1292, [email protected]
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