In the 2016 Profile of Real Estate Firms, we surveyed our members for the first time on to learn if firms were family-run businesses and what type of family relationships exists within the firm. Members cited that 50 percent of all firms had some type of family relationship and seven percent of those firms were completely family-run where everyone was related.
Family relationships grow stronger as the size of firms increase; 68 percent of firms with four or more offices cited they have some type of family relationship. The most common family structure in the firm was a spouse or partner (62 percent), followed by parent-child (55 percent), siblings (18 percent), and grandparent-grandchild (four percent). The spouse or partner relationship was strongest in smaller, one-office firms and the parent-child and sibling relationships grew with larger firms that had multiple offices.
By and large, firms encourage its members to volunteer in the local community (82 percent), at local associations of REALTORS® (48 percent), at state associations of REALTORS® (28 percent), and at the National Association of REALTORS® (19 percent).