According to the National Association of Realtors® 2020 Member Profile, the typical Realtor has not changed much since the national Realtor group's 2019 survey. Realtors continue to come from a variety of demographic groups and career backgrounds. They represent the various age, ethnic, and language that define their local communities. They are more tech savvy today, using their smartphone and computer on a daily basis and online tools to communicate with clients.
The typical Realtor is a 55-year-old, college-educated White woman, and a homeowner. Sixty-four percent of all Realtors are women. For 73 percent, real estate is their only occupation. Also largely unchanged from the previous year, 69 percent are married, 16 percent are divorced, and 10 percent are single or never married.
Eighty percent of Realtors are White, while 10 percent are Hispanic/Latino, 6 percent Black, and 5 percent Asian/Pacific Islanders. Eighty-two percent are fluent only in English. Respondents under 50 years old were most likely to be fluent in another language, with Spanish being the most common second language. Thirteen percent said they were born outside of the U.S.
Already before the coronavirus pandemic, Realtors had begun to adapt technology to advance their business. Among the 12,464 members who responded to the survey, more than nine in 10 members use a smartphone and a computer daily, while just about all members regularly email clients. Text messaging is the preferred means of communication for Realtors (94%), followed by email (91%) and telephone calls (89%). Seventy percent of members said they have a website for business use. Majority use social media apps to communicate with clients. Realtors were typically most active on Facebook, LinkedIn, and Instagram.
"The survey was conducted prior to the coronavirus outbreak and subsequent nationwide stay-at-home orders. Realtors are very innovative, and if the same survey is conducted today, it would show an even higher percentage of Realtors utilizing tech tools, and they have done so successfully from the start of a transaction to completion," said Mary Kay Groth, president of the Silicon Valley Association of Realtors.
On average, members have nine years of experience in the industry. Seventeen percent have more than 25 years of experience. Sixty-five percent of respondents have sales agent licenses, 22 percent hold broker licenses, and 15 percent have their broker associate license. Seventy-three percent of members indicated they specialize in residential brokerage.
"People tend to use the terms Realtor and real estate agent interchangeably, but they are not the same. Although both are licensed to sell real estate, a Realtor is a member of the National Association of Realtors and pledges to follow the Code of Ethics, which contains 17 articles and standards of practice that are higher than regular business practices or those required by law," said Groth. "Realtors must abide by a Code of Ethics, which is diligently enforced by our peers through the Grievance and Professional Standards process. As such, a Realtor is held to an even higher standard of conduct than other real estate licensees. Only Realtors can use the REALTOR® trademark by their name."
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
For further information, please email or call the SILVAR office at (408) 200-0100.