Commercial Real Estate Brokers Say They Made More Money in 2018 on Higher Transaction Volumes, and Expect the Trend to Continue in 2019
Other Highlights from the New Apto National Survey of CRE Brokers:
In it for Life: Most brokers expect to be in the real estate business for the rest of their careers
68% of brokers expect there will be fewer or the same number of professionals 10 years from now
DENVER (December 31, 2018) — After the last commission checks are cut and other compensation added up, a healthy majority of commercial real estate brokers say they will have made more money in 2018 than in 2017, according to the latest Apto National Broker Buzz Poll, which was conducted earlier this month by commercial real estate software company Apto.
2018 turned out to be a very good year, say most brokers who responded to the Apto poll. Commercial real estate brokers expect more of the same in 2019. Here are the specific survey results:
58% of brokers made more money than in 2017
25% of brokers made less money than in 2017
14% of brokers made the same money as 2017
3% say they won’t know their 2018 income until bonuses are determined after the holidays
2018 transaction volume:
60% of brokers completed more transactions than in 2017
26% of brokers completed fewer transactions than in 2017
14% of brokers completed the same number of transactions as 2017
2019 income projection:
79% of brokers predict they will make more money in 2019
6% of brokers predict they will make less money in 2019
15% of brokers predict they will make the same money in 2019
Commenting on the poll results, Tanner McGraw, founder of Apto, said, “Rising macroeconomic tides in the U.S. lifted commercial real estate boats in 2018. The sector, including commercial real estate brokers, benefitted from the strong U.S. economy even as interest rates have risen and amid some signs that commercial property prices are leveling off.”
“2019 bodes well for the macroeconomy and the commercial real estate sector, though there are plenty of jitters with the U.S. government partially shut down and over trade, interest rates, and questions about whether the corporate tax cuts will be as much of a boon in 2019.”
Other insights from the latest Apto poll:
Commercial real estate brokers are in it for life. Asked if they expect to be in the real estate business for the rest of their careers, 93% of brokers said yes, with only 7% responding no.
Asked to predict the future of the CRE brokerage profession, 41% said that 10 years from now there will be “fewer CRE brokers than today,” while 32% predicted “more CRE brokers than today” and 27% said there will be “the same number of CRE brokers” as today.
Reflecting on these poll results, Apto’s McGraw observed: “For many producers — the men and women engaged in facilitating transactions and advising clients — commercial real estate brokerage isn’t just a job or a profession, it’s a sport, it’s a way of life. They live and breathe the asset class, the people, and the sales and advisory culture. I’m not surprised so many brokers are committed to brokerage as their careers.”
Apto, the commercial real estate software company, is the #1 CRM and deal management platform for commercial real estate brokers, with more paid users than any other service. Apto was built by and for brokers to help them manage contacts, properties, listings and deals from anywhere, on any device.
Apto customers include thousands of independent brokers around the world, as well as multinational brokerages CBRE, JLL, NKF, Cushman & Wakefield and others. Headquartered in Denver, Apto is one of the fastest-growing private companies in the U.S., as ranked by Inc. magazine three years in a row. For more information, visit https://www.apto.com/.
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