Assessment of realtor income in the Chippewa Valley

Abstract

This paper explores factors that influence income of Realtors working in the Chippewa Valley and the effect training has on income in the real estate industry. Data from a survey of members of the Wisconsin Realtor Association (WRA) conducted in the spring of 2004 are the basis of this analysis. Participants in the study were selected at random from the WRA website; the population included all members of the WRA in Dunn, Eau Claire and Chippewa countries. The data from the survey was then analyzed and correlations between income and competencies influencing income were determined. A number of factors were seen to positively affect Realtor income. These competencies include (a) technical school degree, (b) some undergraduate work, (c) some graduate work, (d) years of experience, (e) age up to 50 years, (f) having a brokers license, and (g) working up to 60 hours per week. Competencies negative affecting Realtor income in the Chippewa Valley include (a) high school degree, (b) undergraduate degree, (c) graduate degree, (d) on job training, (e) having a mentor, (f) age after 50 years, and (g) working beyond 60 hours per week. No significance was noted in (a) sex of agent and (b) inclusion of commercial sales. The results training and mentoring have on Realtor earnings were unexpected in this study. However, years in the industry, or experience, can be construed as training and experience was seen to have a positive effect on income in the Chippewa Valley. It is possible that the training currently in place in the Chippewa Valley is viewed as ineffective by sales agents.