For Immediate Release:
July 15, 2010
NJ REALTORS® INCREASE TECHNOLOGY USE
TO THRIVE IN BUSINESS
(Edison, NJ)
-
New Jersey
REALTORS® are adopting
more technological approaches to the
business,
according to results from a survey
commissioned by the New Jersey Association
of REALTORS® (NJAR®).
"As the leading advocate for Garden State homeowners, the New Jersey Association
of REALTORS® is encouraged by Governor Christie and his Senate
colleagues in their efforts to reign in soaring property taxes," said Grasso.
"While we recognize that the tax cap compromise is not the definitive answer to
our State's property tax crisis, we are happy to see our elected officials
taking a bold first step to address this issue."
The 2010 New Jersey Member Profile
revealed that 57 percent of REALTORS®
in New Jersey reported having a website and
more than half of members are using social
media. Regarding real estate blogs, 21
percent of REALTORS® under the
age of 39 operate a blog, while 10 percent
of all REALTORS® have a blog.
Both of these blog findings increased from
the 0-percent level reported in the 2009
Profile. One hundred percent of REALTORS®
age 29 or younger utilize social media
compared to 54 percent of all REALTORS®
in New Jersey. Last year it was reported
that only 35 percent of all REALTORS®
in New Jersey actively used social
networking websites.
The survey
also found that 94
percent of REALTORS® are certain
or somewhat certain that they will remain
active as real estate professionals during
the next two years.
“This
report demonstrates the dedication of New
Jersey’s REALTORS® to remain in
the business and to adapt their
communication means to thrive,” said NJAR®
2010 President Judy Appleby. “REALTORS®
are enhancing their Internet usage and
technical skills to provide the best
services possible. The cyclical nature of
the real estate market demands a competitive
edge and that means reaching clients in the
methods that fit their lifestyles.”
Real estate challenges differed in New Jersey than on the national level. In New Jersey, it was found that the most limiting factor (at 33 percent) was the potential buyers’ expectation that prices might fall further. Nationally, the top concern was obtaining mortgage finance, which was reported as a concern among 34 percent of REALTORS®. In New Jersey, difficulty in obtaining financing was the second most popular challenge at 19 percent. Fear of job loss was reported at 14 percent in New Jersey and only affected six percent of respondents nationally.
Prior full-time careers of REALTORS® were mostly in management/business/finance, as reported by 41 percent of REALTORS® working less than 2 years in real estate. The typical REALTOR® has been in business for nine years. Real estate is the only occupation for 74 percent of all New Jersey REALTORS®.
Nearly half of all REALTORS® in
New Jersey have a bachelor's degree or
higher. The report also shows that 49
percent of New Jersey REALTORS®
hold a professional designation and 32
percent received specialized certifications,
such as the Graduate REALTOR®
Institute (GRI) designation, Certification
for Internet Professionalism (e-PRO), or the
Short Sales and Foreclosures Resource (SFR)
Certification.
Additionally, the 2010 New Jersey Member Profile found that REALTORS® typically work a median of 40 hours per week. The report also revealed that in New Jersey, 57 percent of REALTORS® are female, which is the same as reported nationally, and the median age of REALTORS® is 55, which is slightly older than the nationwide median of 52. A majority (87 percent) of REALTORS® in New Jersey specialize in residential brokerage.
This survey reflects characteristics of NJAR®
members. The term REALTOR®
identifies a real estate professional who is
a member of the REALTOR®
organization and pledges to uphold a strict
Code of Ethics. The survey was conducted by
the NATIONAL ASSOCIATION OF REALTORS®
on behalf of NJAR®. In February
2010, NAR mailed a 93-questionaire survey to
a random sample of 58,022 REALTORS®.
An identical questionnaire was also
distributed to another group of 43,869
members via a web-based online survey. A
total of 6,830 responses were received.
There were 334 unweighted responses from New
Jersey, yielding a response rate of 4.0
percent, which form the basis of the report.
For more information or to view a summary of
the 2010 New Jersey Member Profile
please visit
www.njar.com/research_statistics/pdf/2010NJMemberProfileSummary.pdf.
The New Jersey Association of REALTORSRS®, with approximately 48,000
REALTOR® and REALTOR-ASSOCIATE® members, is one of the
largest trade organizations in the state. NJAR®'s membership is
comprised of real estate professionals who subscribe to a strict Code of Ethics
and are members of the national and local REALTOR® organizations. As
the leading advocate for the real estate industry and private property rights in
New Jersey, NJAR® is committed to protecting the dream of
homeownership. For more information, please visit www.njar.com.
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