More often than not, real estate professionals practice what they preach
If you want your real estate agent to be able to speak from personal experience, you’re in luck. The vast majority of agents – almost 85% – are homeowners rather than renters. That means they do, in fact, practice what they preach. Of course, there are lots of other things to consider when choosing a real estate agent, but if you want an agent who walks the walk, it’s not hard to find one.
Real Estate Pros More Likely to Own
The homeownership rate for “real estate brokers and sales agents,” as the Census calls them, is 84.9%. That’s much higher than the homeownership rate for people in all occupations combined, which is 70.1%. Part of this gap is explained by the fact that real estate agents tend to be older, and homeownership tends to increase with age. But this chart shows that homeownership among real estate agents is higher than national norms even within age groups
Furthermore, actual homeownership is higher than expected for other real-estate-related occupations as well – not just real estate agents. The homeownership rates for appraisers, construction managers, and architects are all at least two percentage points higher than what’s expected based on their demographics, income, and location.
Why is home-ownership higher among real estate pros?
Two possible reasons. First, good salespeople truly believe in what they’re selling: real estate professionals probably believe in the importance of homeownership more than others do, and they apply that belief to themselves. Second, real estate professionals have an advantage when it comes to homeownership: they know the ins and outs of the home-buying and homeownership process, which makes buying and selling easier, or more profitable, for them than for the rest of us amateurs.
If you would like more information on home-ownership or becoming a real estate professional yourself, contact the Kerwin Pacific Team at 425-239-1956. We are always looking for quality people to hire.