On Wednesday, the National Association of Realtors® released a new research report, Choosing a Career in Real Estate: A Perspective on Gender, Race and Ethnicity. The report was developed to discover how and why Realtors® chose real estate as a career and to examine gender, race and ethnicity in real estate.
According to the report, nearly 70 percent of Realtors® self-initiated their career in real estate based on interest in the industry, and almost 20 percent were referred by a friend. Sixty-nine percent of males self-initiated their career compared to 65 percent of females, and 20 percent of women were referred by a friend, compared to 18 percent of men.
Seventy-five percent of Black and African American members self-initiated their career in real estate – more than any other ethnic group – while 27 percent of Asian and Pacific Islander members had their career in real estate referred by a friend, also more than any other group.
Seventy percent of female members work exclusively in residential real estate, compared to 45 percent of male members. Fifteen percent of males work exclusively in commercial real estate, compared to only 4 percent of females. Hispanic and Latino members make up the largest share of those working exclusively in residential real estate (71 percent), and Asian and Pacific Islander members make up the largest share working in both commercial and residential real estate (37 percent).
The graphic below shows additional data from the report, such as important skills to possess to be successful in real estate
Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.