The real estate industry is doing well this year, including the Cape Coral luxury homes real estate market. Asking prices are hitting new highs and homes are moving fast. The 2016 home buying season is in full swing. Along with the recovery in the housing market, a rise in the number of new real estate sales professionals are entering into the marketplace and they are younger and more tech-savvy than every before. Younger people are choosing to make the real estate industry their career choice which is changing the face of real estate all across the country.
The New Age in Real Estate
A survey conducted by the National Association of REALTORS® (NAR) reports the age of respondents to its 2016 National Association of REALTORS® Member Profile has dropped.
In 2015, the number of respondents under the age of 30 was 2 percent while those over the age of 60 were 41 percent. In one year’s time, the numbers have definitely changed as the real estate market steadily improves, which has been reflected in the Cape Coral luxury homes real estate market as well as elsewhere. In 2016, the number of respondents to the NAR profile report citing their age as being under rose to 5 percent while those over the age of 60 fell to 30 percent.
The shift in age in the real estate industry could be a great sign for those just entering this career field such as the Cape Coral luxury homes real estate market. It could be that realtors are retiring at a younger age, which may account for the 11 percent drop in realtors over the age 60. Or, it could be that the stiffer competition and lower inventories are driving some of the older realtors out of the industry since it is harder to earn those real estate dollars.
The technical side of the real estate market may be lending itself to the younger realtors who are Internet savvy and know how to use the social media markets to their advantage much more instinctively than their older counterparts. The NAR survey tallied 70 percent of its members noting the use of social media, which was up by 5 percent from 2015, increasing from 65 percent.
When it comes to technology, most real estate firms do have an online presence with 93 percent of respondents affirming a website for their firm was available. This included Cape Coral luxury homes real estate market agencies. Other technology that members report regularly using includes contact management software, e-document preparation programs, and electronic contact and forms software.
Text messaging also is a relatively new way of communicating with clients, but has soared to the top methods used by realtors when communicating with clients. Two other key methods of communication used by realtors wanting to reach out to their clients include email and that old standby: a telephone call.
Experience Shifts Down
The age of experience for reporting realtors dropped along with the wave of new realtors entering the real estate job market, including Cape Coral luxury homes real estate market. The median number of years of experienced in the real estate market came in at 10 for 2016 report versus 12 years in the 2015 analysis.
The median age for realtors also fell from 57 in 2014 to 53 in 2015. NAR reports that this new median age is the lowest it has been since 2008 when the median age was 52.
NAR president Tom Salomone commented that the industry welcomes new and fresh perspectives from these realtors entering the industry.
