Aceable releases benchmark study finding real estate careers remain hot and digital licensing is a must
AUSTIN, Texas, Aug. 30, 2022 /PRNewswire-PRWeb/ -- New research from Aceable, a digital education platform, showcases how the pandemic directly impacted major shifts to real estate careers. While the pandemic accelerated the housing market in unprecedented ways, from record high prices and sales to record low inventories across the country, it also created new career opportunities in real estate for those seeking a career that supports both their personal and financial needs.
According to Aceable's Real Estate Retrospective 2022 Report, which surveyed those who switched from a different career into real estate in 2019 or later, attaining a real estate license during the pandemic presented a unique solution to many concerns Americans were facing, such as a need for more income or better flexibility to avoid burnout. In fact, 92% of those surveyed agreed that COVID created more incentives to pivot into real estate.
46% of respondents say they entered real estate due to a need for additional financial support and/or more family care flexibility. 45% say working conditions of their previous job made them feel unsafe during COVID and/or they wanted the option to work remotely, and 41% say they experienced feelings of burnout at their previous job. Prior to making the switch, 81% were employed full-time in a corporate job, a 45% increase from the number of respondents who said this in 2020.
"People are recognizing the opportunity a real estate career offers to not only bridge financial gaps, but also a more flexible work life in the midst of never-before seen childcare challenges, burnout from high-stress roles, and more," said Aceable's Senior Real Estate Analyst Laura Adams. "Despite the real estate market cooldown, we still see a higher number of people pursuing real estate licenses, further proving that it is still a coveted career move for those looking for a more flexible work life."
In addition, the larger shift to online learning made attaining a real estate license more convenient for many. 75% say they took their pre-licensing course online, which is 71% more than the number of respondents that said they took their course online in Aceable's 2020 study.
"Digital real estate education is here to stay. We will never again see a world where the majority of newly licensed agents attend in-person classes - it's just not necessary anymore with the advances made in online learning," continues Adams. "People have realized that the ability to get licensed from a computer, located anywhere you can access the internet, is incredibly convenient to the day-to-day chaos of life. Moving forward, we expect to see that this year-over-year increase of online real estate students will continue to see accelerated growth."
Additional findings from Aceable's Real Estate Retrospective 2022 Report include:
- Licensing was only the first hurdle: Agents entered the field with uncertainties about their newfound career path with 98% saying they had questions or concerns about exactly how to start. 81% questioned how long it would take to build their business and 84% wondered what their day-to-day life would be like.
- Luckily, finding a job was painless for many: 77% say they found work quickly once they started actively job seeking and 81% say securing a job as a real estate agent was easier than they expected it to be. 78% go as far to say that they believe securing a job as a real estate agent is easier than securing a job in other fields that they could have pursued.
- New agents reaped the rewards: Agents reported an average pre-tax earning of $35,052 in their first year of real estate and now have increased their annual pre-tax income to $216,989 – turning a license into a sustainable career path. This came as a welcome surprise to more than half of respondents (57%) who say they have earned more than they expected.
Findings for Aceable's Real Estate Retrospective 2022 Report are based on a survey of more than 600 Americans who have a real estate license and actively use it to earn a living, are age 18+ and switched from a different career into real estate in 2019 or later. For more information and to read the full report visit: here and here.
Aceable is a digital education platform that exists to provide unparalleled, accredited training and tools. For more than a decade, Aceable has been replacing tired formats with delightful and convenient licensing courses to empower people to build the life they want starting with innovative driving and real estate education. Named one of the Best Places to Work in Austin for multiple years running by numerous entities, including Austin Business Journal, BuiltInAustin and EqualOcean, Aceable is headquartered in Austin, TX, but our team works remotely across select states in the U.S. For more information, visit http://www.aceable.com
Holland Eichorn, Kickstand Communications for Aceable, 301-873-9653, [email protected]
SOURCE Kickstand Communications for Aceable