Do Most Real Estate Agents Own Their Own Homes? Yes!
Jed Kolko | Huffington Post | January 14, 2014 | link
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: