Real Estate Industry Facts
- There are 170,000 real estate brokerage offices in the USA.
- Almost two-thirds (65.6%) of broker-owners are male.
- The average broker-owner age is 53.6 years old.
- Over half of all broker-owners are at, near, or beyond retirement age.
- By law, every real estate brokerage office is required to have an on-site, licensed broker-manager to supervise the activities of its agents.
Real Estate Industry Trends
- Real estate firm owners routinely hire brokers (managers) to supervise their offices so the owners can handle administration, bookkeeping, and strategic planning.
- Traditionally, owners pay these managers fixed salaries plus incentive bonuses based on sales and/or office profitability.
- Applicants for these positions were likely good agents – perhaps even great agents – who want to step up to management.
- Unfortunately, most are untrained and ill-equipped to manage real estate brokerage businesses. In fact, being a good sales producer doesn't guarantee one's success in a management role.
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