For Immediate Release:
June 26, 2007

SURVEY REVEALS WAYS REALTORS^® ADAPT TO MEET CLIENT NEEDS

Increasing number of New Jersey REALTORS^® make use of the Internet and technological devices

EDISON, N.J. - New Jersey REALTORS^® are becoming more tech savvy and accessible to clients by increasing their use of the Internet and technological devices, according to results from a survey commissioned by the New Jersey Association of REALTORS^® (NJAR^®). The 2007 New Jersey Member Profile survey, which was conducted by the NATIONAL ASSOCIATION OF REALTORS^® (NAR) on behalf of NJAR^®, also reveals other characteristics of New Jersey REALTORS^® including their business activities, demographic characteristics and relationship to their firms.

"The real estate industry is always changing. With that change comes different needs and expectations from clients and consumers," said NJAR^® President Bill Hanley. "This survey shows that REALTORS^® adapt to these changes by enhancing their Internet usage and technical skills so they may provide the best services possible. As REALTORS^® our specialty is working with people but we realize the importance of using technology to make the process of buying and selling real estate more convenient for everyone."

Since 2005, more REALTORS^® are making use of the Web to advertise their real estate listings for clients and consumers. Those who use their real estate firm's website to post listings increased 35 percent, from 49 percent in 2005 to 84 percent in 2006. Thirty-seven percent more use REALTOR.com, the official site of NAR, up from 52 percent in 2005 to 89 percent in 2006. There has also been a boost in advertising listings on local newspaper websites as another way to market properties, which rose from nine percent in 2005 to 28 percent in 2006.

According to the survey, an increasing number of REALTORS^® also use the Internet to provide helpful information for real estate buyers and sellers. The majority of real estate firms (93 percent) and more than half (56 percent) of New Jersey REALTORS^® have their own website, up from 88 percent and 34 percent in 2005 respectively. More than half of REALTORS^® use their websites to host a variety of information for consumers such as community information or demographics, school reports, mortgage or financial calculators, and virtual tours. Many REALTOR^® websites also include links to state and local governments, mortgage lenders, and real estate service providers, in addition to home valuation or comparative market analysis tools and current mortgage rates.

This year's survey also shows a noticeable increase in New Jersey REALTORS^®' use of technological devices, which indicates that today's real estate professionals are keeping pace with clients' needs. Almost all REALTORS^® (91 percent) surveyed use e-mail, which is up from 81 percent in 2005. More than half communicate with their clients via e-mail more than 50 percent of the time. The number of REALTORS^® who use a computer on a day-to-day basis increased to 88 percent, as well as cell phone usage on a daily or nearly every day basis which went up 10 percent, from 82 percent in 2005 to 92 percent in 2006. REALTORS^®' use of global positioning systems also significantly increased from 13 percent in 2005 to 23 percent in 2006.

REALTORS^® in New Jersey worked a median of 40 hours a week in 2006 and had a gross median income of $41,200, compared to $47,700 nationally. The typical New Jersey REALTOR^® has been in the business for nine years, two years more than the national average and an overwhelming majority (95 percent) are certain they will remain active as real estate professionals during the next two years.

REALTORS^® are also well-educated. Those who hold a professional designation account for 22 percent and 17 percent hold a certification. REALTORS^® earn professional designations through NAR and a variety of 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.

In January 2007, NAR mailed an 87-questionaire survey to a random sample of 70,000 REALTORS^®. An identical questionnaire was also distributed to another group of 70,000 members via a Web-based online survey. A total of 10,774 responses were received. There were 147 unweighted responses from New Jersey, yielding a response rate of 4.9 percent, which form the basis of the report. For more information or to view a summary of the 2007 New Jersey Member Profile please visit http://www.njar.com/2007NJMemberProfileSummary.pdf.

The New Jersey Association of REALTORS^® is a non-profit organization serving the professional needs of approximately 55,000 REALTOR^® and REALTOR-ASSOCIATE^® members in the state. 2007 marks the association's 90th anniversary year. REALTOR^® is a registered collective membership mark which may be used only by real estate professionals who subscribe to the REALTOR^® organization's strict Code of Ethics and are members of the national, state and local REALTOR^® organizations. For more information, please visit www.njar.com.

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