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The 10 biggest challenges for real estate firms in 2016

by Peter Thomas Ricci

hands-meeting-real-estate-office-company-firm-brokerage-business

Last week, we reported on NAR’s “Profile of Real Estate Firms,” an exhaustive look at the composition of today’s realty businesses and a projection of where they are heading.

Our first report looked at the state of real estate firms in 2016, and now, we’re looking at an even more interesting segment of NAR’s report – the 10 biggest challenges that brokerages will face in the coming year.

Our chart below ranks those challenges by the share of residential firms who, in NAR’s report, cited them as a concern:

Challenge Share of Residential Firms
Maintaining inventory 51%
Profitability 49%
Keeping up with tech 49%
Recruiting younger agents 37%
Competition from nontraditional firms 37%
Competition from traditional firms 35%
Local/regional economic conditions 34%
State/local legislation and regulation 26%
Agent retention 26%
Competition from virtual firms 23%

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