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% |