Profile of Real Estate Firms
- Seventy-nine percent of real estate firms have a single office, typically with three full-time real estate licensees, consistent with 2016.
- Firms with only one office had a median brokerage sales volume of $4.3 million in 2016, while firms with four or more offices had a median brokerage sales volume of $235.0 million in 2016.
- Forty-three percent of firms reported they are actively recruiting sales agents in 2016, down from 47 percent in 2016.
- Sixty percent of firms expect profitability (net income) from all real estate activities to increase in the next year, down from 64 percent in 2016.
- Keeping up with technology, maintaining sufficient inventory, and competition from nontraditional market participants are among the biggest challenges cited for firms in the next two years.