Real Estate Firms Anticipate Increased Profits, Competition


This article, by Tory Barringer, gives a fairly good look into the expectations of the real estate industry as a whole. Please read the article below and let me know what you think.

The FHA Condos Approval Company, Inc.

Please +1 Us on Google, Follow Us on Twitter or Like Us on facebook

The majority of real estate firms responding to a survey from the National Association of Realtors (NAR) expect profits—and competition—to heat up over the next year as the housing market continues to look up, the association (sic).

NAR released on Tuesday its 2013 Profile of Real Estate Firms, which examines the makeup of companies, their offerings, and their expectations for the industry. This year’s report was based on a questionnaire mailed to a national sample of 121,931 executives at real estate firms; the survey’s response rate was 5.5 percent.

Out of those firms that responded, 84 percent were independent, non-franchised companies, while 13 percent were independent franchises; the remainder were subsidiaries of a national or regional corporation. The majority—approximately 80 percent—specialize in residential brokerage, with commercial brokerage and residential property management the most common secondary functions.

Sixty-nine percent of respondents said they expect profitability to rise over the next year, and most are preparing to battle for every dollar.

“Two out of three real estate firms expect competition in the marketplace to increase, both among firms and nontraditional market participants,” said Paul Bishop, NAR’s VP of research. “Because real estate is an entrepreneurial field, some experimentation in business models is likely when the market is in a recovery phase.”

To see the complete article – please use the link below.

Anticipate Increased Profits

Explore posts in the same categories: Real Estate Market Trends

Tags: ,

You can comment below, or link to this permanent URL from your own site.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: