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The Real Deal
Internet is key tool for realtors
By Jean Newton
The high-tech world has entered the real estate market with Realtors increasing their use of the Internet and computers to be more effective at their job. A recent survey conducted by the National Association of Realtors shows that Realtors nowadays have double the experience in real estate issues relative to their counterparts in the 1970s, and widespread use of technology has become a key factor in better serving clients.
The 2001 National Association of Realtors Member Profile, based on a survey of 40,000 members earlier this year, covers diverse characteristics of the association's member Realtors, including demographic data, current business attributes and technology use. National Association of Realtors President Richard A. Mendenhall said experience is one of the greatest assets a Realtor brings to the real estate transaction.
"The typical realtors of today have greater skills in guiding their customers through the home buying and selling processes," Mendenhall said. "Our members also are more adept at using technology, including the Internet, to better serve customers--this includes placing listings on a variety of websites and using email to communicate."
While the Realtor universe is very diverse, the survey shows the typical member is a 52-year-old married female with a gross personal income of $47,700, who works 43 hours a week. She is a sales agent who has been in the business for 13 years and has been with the same firm--which has a single, independently owned office--for five years.
Dr. David Lereah, National Association of Realtors' chief economist, said technology continues to influence the industry. "While nearly nine out of 10 Realtor members have computers, more than three-fourths use email and the Internet for business purposes, and four out of 10 have a webpage. For residential brokers, 87 percent post listings on at least one website.
The National Association of Realtors Member Profile shows nearly nine out of 10 Realtors have completed some college courses, with 45 percent holding a bachelor's degree.
The survey shows 56 percent of National Association of Realtors members are women. In 2000, the median gross income of brokers was $73,400, while agents earned $34,100.
Experience is a major factor in member income. The typical Realtor with 11 to 15 years experience earns almost $41,000 a year more than a real estate professional with one to five years experience.
"Although this study is industry specific, it provides important clues for consumers when choosing a Realtor," said Silicon Valley Association of Realtors President Jeff Barnett of Alain Pinel Realtors in Los Gatos. "Experience and knowledge combined with technological savvy are traits that are significant when selecting a Realtor."
For more information, check out www.siliconvalley-realtors.org.
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