Edison, NJ – July 25, 2008 – (RealEstateRama) — Professional courses and training are important to REALTORS®, according to results from a survey commissioned by the New Jersey Association of REALTORS® (NJAR®). The 2008 New Jersey Member Profile survey, found that the number of REALTORS® who have obtained a professional designation has increased by 8 percent from the previous year. The report also reveals other characteristics of New Jersey REALTORS® including their business activities, demographic characteristics and relationship to their firms.
“Year after year, REALTORS® meet the needs of their clients by raising their level of expertise through training and experience,” said 2008 NJAR® President Drew Fishman. “Many REALTORS® are seeking professional designations and certifications as a way to adapt to a changing marketplace.”
The report found that the typical REALTOR® has been in business for 10 years, compared to the national median of eight years. Nearly half of all REALTORS® in New Jersey have a bachelor’s degree or higher (45 percent). It also shows that 30 percent of New Jersey REALTORS® hold a professional designation and 16 percent received specialized certifications.
REALTORS® earn professional designations through the NATIONAL ASSOCIATION OF REALTORS® (NAR) and its affiliated Institutes, Societies, and Councils in order to enhance their knowledge about a specific real estate sector. To earn a designation REALTORS® must complete required courses which are designed to prepare them to better serve clients and consumers in a particular field of the real estate industry.
The survey indicated that real estate is the only occupation for 74 percent of New Jersey REALTORS®. A majority (96 percent) said they are certain they will remain active as real estate professionals during the next two years.
“This survey indicates that New Jersey REALTORS® are committed to their profession,” added Fishman. “The fact that an overwhelming majority of NJAR®‘s members are certain they will remain in real estate as a profession shows their confidence in the housing market.”
Additionally, the 2008 New Jersey Member Profile found that REALTORS® worked a median of 40 hours a week in 2007. The report also revealed that in New Jersey, 62 percent of REALTORS® are female, compared to 60 percent nationally, and the median age of REALTORS® is 51. A majority (81 percent) of REALTORS® specialize in residential brokerage.
This survey reflects characteristics of NJAR® members. The term REALTOR® identifies a real estate professional who is a member of NAR and pledges to uphold a stringent Code of Ethics.
The survey was conducted by the National Association of REALTORS® on behalf of NJAR®. In February 2008, NAR mailed an 89-questionaire survey to a random sample of 72,000 REALTORS®. An identical questionnaire was also distributed to another group of 89,400 members via a Web-based online survey. A total of 9,997 responses were received. There were 344 unweighted responses from New Jersey, yielding a response rate of 4.3 percent, which form the basis of the report. For more information or to view a summary of the 2008 New Jersey Member Profile please visit http://www.njar.com/research_statistics/pdf/2008NJMemberProfileSummary.pdf.
The New Jersey Association of REALTORS®, with approximately 53,000 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.
For all media inquiries contact::
Danielle Wyckoff
Media & Public Affairs Coordinator
Phone: (732) 494-4730
Fax: (732) 494-4723
E-mail: dwyckoff (at) njar (dot) com
