May 4, 2015
A new survey of members of the Ontario Real Estate Association (OREA) provides valuable information and helps to create a profile of members across the province.
The annual survey created by the research unit in OREA’s marketing and communication department was completed by more than 3,100 REALTORS®. The questions went out in late 2014 with results compiled in the first quarter of 2015.
“This information is tremendously helpful to us,” says Patricia Verge, OREA president. “Statistical research of this nature gives us a much clearer picture of our members. These are the people we have been elected to serve, and so this data is incredibly useful and enables us to continue to work hard to meet our members’ needs.”
The research revealed the following:
Age: More than half of the REALTORS® surveyed (51per cent) were 55 years or older, 34 per cent of respondents were 40 to 54 years old and 15per cent were under 40. The average age of those who joined the profession in 2014 was 43 years old.
Sex: 55 per cent of respondents were male and 45 per cent were female.
Charities: REALTORS® as a group are very involved with charities and their local communities. Within the past year, more than four out of five (84 per cent) of those surveyed contributed to their local community, either through a charity, sports team or other event. Fifteen per cent volunteer within organized real estate.
Language: Almost a third (29 per cent) of REALTORS® surveyed are fluent in a language other than English.
Experience: The average amount of experience in real estate among respondents was 14 years.
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Broker or salesperson: Among those surveyed, 7 2per cent were salespeople, 21per cent were brokers, and 7per cent were brokers of record.
Owners: Most REALTORS® surveyed are also home owners, with 87 per cent or respondents saying they own their property.
Classification: In terms of how respondents categorized themselves, 46 per cent did all residential, 47 per cent handled mostly residential and some commercial, 3per cent did half and half, 2per cent did mostly commercial and some residential, and 2 per cent did only commercial.
Area: Some of the individuals surveyed belong to more than one real estate board or work in more than one region of Ontario. Forty-nine per cent belong to the central area, while 15 per cent are in the southern area, 14 per cent are in the eastern area, 12 per cent are in the western, 11 per cent in northeastern, and 3 per cent in the northern area.
Volume: About half of REALTORS® surveyed sold up to 10 properties in the past year, with the other half selling 11 or more properties.
Technology: REALTORS® are a connected group, with 94 per cent reporting that they own a smartphone, up from 91 per cent last year and from only 27per cent in 2006. A total of 87 per cent spend more than one quarter of their workday online; and 63 per cent of REALTORS® surveyed read the news on their smartphones daily.
Type: Respondents were asked about the type of real estate they practiced most often. They were given a list and asked to check the top three kinds of transactions they had handled most in the past year. The research revealed the following: 94 per cent worked on at least one residential resale; 55 per cent handled one or more condominium transactions; 21 per cent worked on residential leasing; 20 per cent handled new homes; 12 per cent dealt with cottage or recreational properties; 11per cent did farms and lands; 9per cent tackled commercial investment; and 8 per cent dealt with office leasing.
View a summary infographic of the OREA member profile survey titled “A Year in the Life of a REALTOR®” on the OREA blog.
Download a text-only PDF of the May EDGE