Communicating effectively is an essential ingredient in achieving success in the business of real estate. According to the 2011 National Association of REALTORS® (NAR) Member Profile, technological advances have revolutionized the ways in which real estate professionals communicate with their clients and market themselves and their services.
The annual NAR survey reveals REALTORS® use technology daily or nearly every day – 92 percent use email and 90 percent use computers. Three-quarters or 72 percent of REALTORS® surveyed now use smartphones with wireless email and Internet capability, an increase from the 56 percent reported in 2009. More REALTORS® are also using GPS devices, instant messaging, RSS feeds, podcasts and digital cameras. A majority of REALTORS® (62 percent) have a website, with more than half of them having an individual website developed and/or maintained by them – not their firm.
"Technology has become increasingly important to a REALTOR®'s business. The latest advances have facilitated our business and enabled us to serve our clients in a most efficient way," said Gene Lentz, president of the Silicon Valley Association of REALTORS®.
Lentz said REALTOR® members of the local trade association have replaced their old lockboxes with new key and Bluetooth iBoxes. They also have the option to use an eKey service with their smartphone. "It works great," commented Lentz. "I, personally, see this as the next step in new technology that continues to benefit our business and enable us to serve our clients better."
The use of social media among REALTORS® has not changed much from NAR's 2010 survey. Almost half of those surveyed use social media while an additional nine percent plan to do so in the future. In the 2010 survey, only 35 percent of REALTORS® used social networking websites, and 14 percent planned to do so in the future. Social networking sites such as Facebook, Linked In, Twitter are most popular. Social networking appears to be more widespread among younger REALTORS®, with more than eight out of 10 REALTORS® ages 29 or younger using such sites.
One in 10 members reported having a real estate blog. That share is also no different than that reported in the previous NAR Member Profile. Much like the use of social networking sites, the likelihood of a REALTOR® having a blog appears to be related to age. REALTORS® younger than 39 years of age are more likely to have a blog than those who are older. Still, six percent of REALTORS® over 60 also reported having a blog.
The survey shows the typical NAR member is 56 years old and works 40 hours per week; 57 percent are women, who account for 50 percent of brokers and 63 percent of sales agents. Three percent of all REALTORS® are under 30 years of age; another 4 percent are 30 to 34 years old; and 22 percent are 65 or over.
The 2011 NAR Member Profile is based on a survey of 54,758 members which generated 8,303 usable responses, representing an adjusted response rate of 15.3 percent. The study's results are representative of NAR's 1.1 million members, who account for more than half of the approximately two million active real estate licensees in the country.
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.