Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

  • Miami Existing Condo Sales Jump 24.6 Percent in April

    May 24, 2018
    Miami’s existing condominium market posted its best April in three years as condo transactions jumped 24.6 percent and condo dollar volume surged 40.8 percent year-over-year, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system. Miami single-family home sales and residential prices rose.
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  • MIAMI REALTORS® Launches MIAMI Platinum PLUS for its Members

    May 17, 2018
    The MIAMI Association of REALTORS® (MIAMI) is now offering its members subscriptions to MIAMI Platinum PLUS, an exclusive and unparalleled suite of upgraded Realtor products and services, so Realtors can utilize an even higher level of industry tools to improve and expand their business while enhancing the home buying and home selling process for the public.
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  • Miami Luxury Home Sales Soar in 1Q 2018

    May 15, 2018
    Total Miami luxury home sales surged 12.3 percent in 1Q 2018 as median prices rose for the 25th consecutive quarter, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • MIAMI REALTORS CEO Named to South Florida’s Most Influential Business Women

    May 14, 2018
    MIAMI Association of REALTORS® (MIAMI) Chief Executive Officer Teresa King Kinney was named one of the top 25 Most Influential Business Women in South Florida. The South Florida Business Journal honored Kinney’s strong record of leadership, community involvement and industry innovation at an event on May 11 in Fort Lauderdale.
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  • Miami Luxury Single-Family Home Sales Jump in March

    Apr 23, 2018
    Miami luxury single-family home sales posted double-digit gains as median prices for all properties continued rising in March, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • South Florida Industrial Real Estate Prices, Transactions Rise in 4Q

    Apr 23, 2018
    South Florida industrial real estate prices increased 11.4 percent year-over-year in the 4Q 2017 and the Miami-Dade, Broward and Palm Beach tri-county region posted its second highest industrial transaction volume for the year,
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  • Patricia Anglero Elected 2018 Broward President of the MIAMI Realtors

    Apr 07, 2018
    The MIAMI Association of REALTORS® (MIAMI) has elected Fort Lauderdale broker Patricia C. Anglero as its 2018 Broward Council president. She and all of MIAMI’s leadership boards were installed Feb. 2 at the MIAMI 2018 Inaugural and Awards Celebration.
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  • MIAMI REALTORS Commercial Partners with Research and Data Firm Vizzda to Provide South Florida Commercial Statistics Reports

    Apr 05, 2018
    MIAMI Association of Realtors Commercial (MIAMI Commercial) has formed a strategic alliance with Vizzda (Visual Data) to provide The Quarterly Report – South Florida Commercial Real Estate, which will offer comprehensive commercial research and statistics to MIAMI’s 46,000 members and the consumers they serve.
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  • MIAMI Realtors Commercial Association Rebrands as MIAMI Commercial

    Apr 05, 2018
    The MIAMI Association of REALTORS® (MIAMI) has rebranded its commercial real estate organization, to MIAMI Commercial. MIAMI Commercial’s new name and logo is part of MIAMI’s successful expansion of the commercial reach of the Miami Association of Realtors that enhances the 25-year-old organization, which was formerly the Realtors Commercial Alliance MIAMI (RCA MIAMI).
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  • Miami Condo, Luxury Home Sales Rise in February  

    Mar 21, 2018
    Miami existing condominium and total luxury home sales increased in February, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Miami Realtors Expands Presence of South Florida Real Estate at Global Expo

    Mar 14, 2018
    The MIAMI Association of REALTORS® (MIAMI) has increased its presence by 400 percent at the world’s largest commercial real estate conference, MIPIM. MIAMI Realtors will have exhibits promoting South Florida at MIPIM from March 13-16 in Cannes, France as part of the National Association of REALTORS® (NAR) expanded U.S. pavilion. This year, MIAMI has significantly expanded the U.S. and MIAMI/South Florida presence by adding its own adjacent exhibit space.
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  • Colombia Leads Countries Looking for Miami Homes in January

    Mar 13, 2018
    Colombian consumers registered the most international web searches for Miami homes in January, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida remains the most-searched U.S. market by international consumers and a top-five market for homebuyers in the world’s six largest regions, according to January data.
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  • Urgent Legal Alert from Florida REALTORS General Counsel

    Mar 06, 2018
    Recently, Florida Realtors became aware of several lawsuits filed against real estate brokers in Miami Dade and Broward counties concerning allegations of discriminatory advertising—a violation of fair housing laws. Specifically, brokers are being sued for discriminating against tenants with Section 8 vouchers. These violations, however, pertain to local ordinances, not the Federal Fair Housing Act. Under these local ordinances, landlords and Realtors are precluded from discriminating against tenants with Section 8 vouchers, as this falls under the protected class "source of income."
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  • Miami Condo, Single-Family Home Sales Jump in January

    Feb 22, 2018
    Miami existing condominium and single-family home sales rose in January as $1 million-and-up luxury transactions jumped for all properties, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Colombia Tops Countries Looking for Miami Homes

    Feb 20, 2018
    Colombian consumers posted the most web searches among foreign countries for Miami homes in December, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida finished as the most-searched U.S. market by international consumers and is a top-five market for consumers in the world’s six largest regions, according to December data.
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  • Miami Single-Family Homes Post Fifth Biggest Sales Year in History

    Feb 13, 2018
    Miami recorded the fifth-most annual single-family home sales in county history in 2017 as total dollar volume and median prices rose at year-end and in 4Q 2017, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • MIAMI Realtors Releases New 2017 South Florida International Real Estate Report

    Feb 08, 2018
    Foreign home buyers spent more on South Florida homes and purchased more local residential properties in 2017 than the year before, according to the new 2017 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members conducted by MIAMI and the National Association of Realtors (NAR).
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  • Jorge L. Guerra Jr. Elected 2018 MIAMI Realtors Residential President

    Feb 06, 2018
    The nation’s largest local Realtor association has elected Miami broker Jorge L. Guerra Jr. as its 2018 Residential President. He and the entire Board of Directors were installed Feb. 2 at the MIAMI Association of REALTORS® (MIAMI) 2018 Inaugural and Awards Celebration.
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  • MIAMI Realtors to Honor South Florida Real Estate Industry Leaders

    Feb 06, 2018
    he MIAMI Association of REALTORS® (MIAMI) will honor South Florida real estate’s industry leaders with its 2017 MIAMI Awards at its 2018 Inaugural & Awards Celebration today. “From educator of the year to humanitarian of the year to public policy advocates, the MIAMI Awards honors individuals and groups that made the real estate industry and all of South Florida a better place,” MIAMI CEO Teresa King Kinney said.
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  • Miami Native Brian Sharpe to Lead MIAMI Commercial Realtors

    Feb 06, 2018
    The Realtors Commercial Alliance of the MIAMI Association of REALTORS® (MIAMI) has elected Miami native Brian Sharpe as its 2018 president. He and the 2018 RCA Board of Governors were installed Feb. 2 at MIAMI’s 2018 Inaugural and Awards Celebration.
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The Happiest Agent on the Block

by | Apr 29, 2014

This article comes to us from the Market Leader blog:

Market Leader recently surveyed over 3,000 real estate professionals to determine how happy they are. The goal was to find out how various aspects of their careers and lives – like their marital status and commission splits – can impact their happiness. The "Happiest Agent on the Block" survey assessed agent happiness using the following four important metrics: happiness with their real estate careers, incomes, the tasks they complete on a day-to-day basis (e.g., following up with leads and attending client appointments), and life in general.

The results of the "Happiest Agent on the Block" survey contained many surprises tidbits which have significantly increased Market Leader's understanding of who real estate agents are as people, not just professionals. An infographic featuring some of the most compelling survey findings can be found below. Our general survey findings about agent happiness are listed on the next page.

Key Takeaways about Agent Happiness

Real estate agents are remarkably happy people. A whopping 53 percent of agents claim they are "very happy" with their lives, while only 33 percent of Americans can say the same. This means that real estate agents are 60 percent more likely to be very happy with their lives than the average American!

The real estate industry also produces an impressive number of happy workers. Eighty-four percent of agents say they're happy with their careers, while only 53 percent of Americans report the same. Despite their long and irregular hours, real estate agents are 58 percent more likely to enjoy their jobs than the average American.

Many real estate agents cite helping and meeting people as their favorite part of working in the real estate industry – 37.1 percent claim this is their favorite part of the job! Of the remaining agents, 8.4 percent enjoy their flexible schedules the most, 7.9 percent enjoy the unlimited income potential, and 2.6 percent like the challenges of the job (e.g., finding the perfect home for a client).

Here is what all "Happiest Agent on the Block" respondents enjoyed the least about the real estate industry:

  • Rude, disloyal, and uncooperative clients – 11.9 percent of respondents.
  • Rude, immoral, and unprofessional clients – 10.7 percent.
  • Paperwork – 10.3 percent.
  • Issues with leads or lead generation – 5 percent.
  • Long hours – 2.8 percent.

Of the reasons agents joined the real estate industry, those who joined because they wanted to meet new people are most likely to be happy, while agents who wanted to have a flexible schedule are the least likely to be happy. This makes sense, as real estate is an inherently social industry where meeting new people is a part of the daily grind, while the "flexible" schedules real estate professionals have don't keep them from working long hours.

Tools and Technologies

Real Estate Tools and Technologies

Business websitesemail marketing systems, and CRMs are equally as important for agents' happiness as they are for helping their businesses grow. Agents who use these three technologies are more likely to be happy with their real estate careers, incomes and daily tasks than agents who don't use them.

Lead Types

While agents who get the majority of their leads from networking are happiest with their real estate careers, and agents who get the majority of their leads from referrals are most likely to be happy with their incomes, agents who get the majority of their leads from their personal websites are most likely to be happy with both their careers and incomes.

Electronics

Agents who use Apple products (iPads, iPhones, and Mac computers) are more likely to be happy with their real estate careers and incomes than agents who use rival products (PCs and Android phones and tablets).

Demographics

Age

Agents under the age of 30 notwithstanding, there doesn't appear to be a correlation between an agent's age and his level of happiness with career and income. It's not surprising that younger agents tend to be less satisfied, given that they tend to have less industry experience and thus generate fewer leads, close less transactions and make relatively little in commission income.

Agents tend to become less happy with their daily tasks the older they become, but age appears to have no bearing on happiness with life in general.

Marital Status

Agents who are in their first marriage are the most likely to be happy, while agents who are single and have never been married are the least likely to be happy. Agents who are single following their first divorce are only slightly more likely to be happy than their single, never-married peers.

The trend of married agents being happier than their unmarried counterparts is also true in the U.S. as a whole.

Education

There are no easily discernable trends between education and agent happiness. While improving education is generally thought to increase the average person's well-being (and thus their happiness), getting an associate, bachelor's or graduate degree frequently doesn't pay off in terms of improving the happiness of real estate professionals!

Here are our findings on how education affects agent happiness:

  • There seems to be a slight correlation between increased income and agent happiness with life in general. This isn't particularly surprising, as highly educated Americans tend to earn more, have higher job satisfaction, and lead healthier lifestyles than their lesser-educated peers.
  • Generally speaking, it appears that the more education agents have, the more likely they are to be happy with their real estate careers. There are some exceptions, however. For example, those who have taken some college courses are slightly more likely to be happy with their real estate careers than those who have a bachelor's degree and have taken some graduate school courses.
  • There doesn't appear to be a correlation between an agent's education and happiness with real estate income. In fact, the agents who are happiest with their real estate incomes are those who have only earned a high school diploma. This disconnect is most likely due to the income expectations of highly educated agents (i.e., their failure to make as much as they expect to earn), as we found there is a positive correlation between agent education and commission income.
  • There is a slight inverse correlation between education and agent happiness with their real estate tasks; the more education an agent receives, the less likely he is to enjoy the daily tasks that are work-related!

Geographic Location

Southern agents are typically the most likely to be happy, while agents from the West are the least likely to be happy. This is surprising because the West is home to many perennially happy states like Colorado and Hawaii, while the South (particularly West Virginia, Alabama and Mississippi) tend to dominate the opposite end of the happiness scale.

Gender

Men are slightly more likely to be happy with their real estate careers, incomes and tasks than women, though women are more likely to be happy with their lives in general.

Real Estate Income

Commission Income

It shouldn't come as a surprise that there is a direct correlation between an agent's commission income and happiness with career and income. The more agents earn, the more likely they are to be happy! The survey also showed a connection between commission income and agent happiness with life in general and work tasks.

Commission Split

Agents with commission splits closest to 90/10 are most likely to be happy for all happiness metrics. Unsurprisingly, agents with 60/40 commission splits are typically the least likely to be happy. The former category of agents is 76.5 percent more likely to be happy with their real estate incomes than those in the latter category!

Transactions Completed Per Year

The more transactions that agents complete each year, the more likely they are to be happy with their real estate careers, incomes, tasks and life in general. This trend is most obvious with the first two of these happiness metrics. Agents who close between 16 and 20 transactions a year (around 50 percent more transactions than the NAR average of 12) are 24 percent more likely to be happy with their real estate careers and 163 percent more likely to be happy with their real estate incomes than agents who only close between one and five transactions.

Real Estate Career

Work Group Type

Real estate agents who work alone are least likely to be happy with all aspects of their jobs. Agents who work on teams are most likely to be happy with their real estate incomes and tasks, while those who work with partners are most likely to be happy with their careers.

Hours Worked Per Week

There is a direct correlation between the number of hours an agent works each week and happiness with career, income, and tasks. Surprisingly, the more agents work, the happier they are! This fact runs against the method of attaining happiness outlined in the popular book The 4-Hour Workweek, in which the author advocates working less to enjoy life more.

Industry Experience

Generally speaking, the more industry experience agents have, the more likely they are to be happy with their real estate careers and incomes. This makes perfect sense, as experience helps agents become better at their jobs and, in turn, earn more commission income. Agents with five years of industry experience are 94 percent more likely to be happy with their real estate incomes than their peers with less experience!

However, industry experience does not seem to impact how happy agents are with the tasks they complete on a day-to-day basis unless they have been in the industry for 40 or more years (something Market Leader has dubbed the "I'm too old for this" effect). The key takeaway from this finding is that the tools and technologies agents use – not their industry experience – drive how much they enjoy their jobs.

Leads Generated Per Month

Savvy agents know that their business can always benefit from having more leads, and it turns out having more leads also improves their happiness. There is an obvious direct correlation between the volume of leads agents generate each month and their happiness with their real estate careers and incomes. Agents who generate 50 or more leads a month are 68 percent more likely to be happy with their incomes and 20 percent more likely to be happy with their careers than agents who only generate between one and five leads.

Of course, not all leads are created equal. As we discussed above, referral, networking, and leads from agents' own websites are best for boosting their happiness. Agents who have been getting leads from Market Leader for six or more months are 6.3 percent happier with their real estate careers and 9.5 percent happier with their real estate incomes than the average agent.

Paid Training or Coaching

According to the "Happiest Agent on the Block" survey, agents who pay for real estate training or coaching are less likely to be happy. This seems to defy logic; surely agents with more training and coaching will know how to perform better at their jobs, earn more, and have higher career satisfaction!

While we are unsure why this disconnect exists, it may be due to the difference between what agents who pay for training or coaching expect their careers to be like and how they actually are. For example, an agent who pays for training may expect to have doubled his lead generation capabilities and commission income since he began to pay for coaching. If they only increased by 20 percent, he may feel less happy about his career and income even though they have improved significantly.

Use of an Assistant

While agents with assistants are more likely to be happy with their lives in general and slightly more likely to be happy with their real estate careers, they are less likely to be happy with both their incomes and tasks. The last fact is particularly surprising given that assistants usually take on the organizational and administrative work that can bog down agents

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