Real estate agents practice what they preach: their homeownership rate is high even after taking demographics into account. The same goes for appraisers, architects, and construction workers.
If you want your real estate agent to be able to speak from personal experience, you’re in luck. We discovered that 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 (start with these questions and look through the Trulia Agent Directory), but if you want an agent who walks the walk, it’s not hard to find one.
To discover whether real estate professionals are especially committed to homeownership, we calculated homeownership rates by occupation using Census data from 2007-2012. We then adjusted for demographics, income, and location to determine whether real estate professionals are more likely to own their home compared to other people with similar attributes in a similar neighborhood. (See note for details on methodology.) Here’s what we found.
Real Estate Pros More Likely to Own
Let’s start with real estate agents. 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% (see note for why this is higher than the published homeownership rate). 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:
To go a step further, comparing homeownership for real estate agents with people who are similar not just in age, but also on other demographics, income, and location, we turned to regression analysis. We estimated the “expected” homeownership rate for each person based on their demographics (including age), income, and location – but NOT their occupation. For real estate agents, the expected homeownership rate is 80.4%, while the actual homeownership rate is 84.9% – a difference of 4.5%. That means that the homeownership rate for real estate agents is 4.5 percentage points higher than what we’d expect based on their demographics, income, and location. … continue reading0 comments
In the age-old battle of the sexes, who “wins” when it comes to pricing and putting homes up for sale?
Believe it or not, America’s workforce is made up of more ladies than gents (almost 60% more, to be specific). Yes sir-eee Bob – it’s very much a woman’s world as far as numbers go, but does this hold true when you take a look at the nitty-gritty details, as in the actual job? Well, out of shear curiosity, we decided to look into the guy-to-girl ratio among real estate pros and see how male and female agents differ – besides on the obvious stuff, that is.
Why are we doing this, you ask? Well, why the heck not?! This is seriously interesting, not to mention fun, factoids to know. And you thought rent vs. buy was a great debate. Well, my friend – you ain’t seen nothing yet.
First things first, here’s our methodology: We started with a simple name analysis using the genderizer to separate the men from the women agents among all the real estate pros on Trulia.com. Then we took a good hard look at which gender outnumbered the other in this industry, who listed more homes for sale and who had more expensive homes.
The Pink Ladies of Real Estate
Not to reinforce stereotypes, but let’s face it…some careers are dominated by women (think nurses and nannies) and some are made up of almost all men (can we say construction workers and software engineers). But as far as the real estate industry goes, the gender divide is fairly balanced…or is it? In one of the early draft of our female vs. male real estate agent map, we colored each state pink where there were more women and blue where there were more men.
To our surprise, we ended up with a really, really pink map – see for yourself.0 comments