According to a Census data analysis by Huffington Post, about 84 percent of real estate brokers and sales agents own a home.
The study determined that homeownership rates are higher for realty practitioners compared to other professionals in the same age bracket. For instance, 42.9 percent of all people under the age of 35 are homeowners; but 61.8 percent of real estate agents younger than that own their residences.
Realtors may own rather than rent because leasing has become more expensive. Renting an apartment or single family home sometimes costs more than a comparable 30-year mortgage. Because real estate agents work with home and rental values every day, they understand the way it works and might opt for homeownership more often to decrease their monthly obligations. Although renting does provide greater flexibility, most real estate agents point to the absence of a long-term investment in renting and believe that investing that saving for a down payment is worthwhile.
Secondly, owning is both a rite of passage and learning experience. Many agents assume that achieving homeownership helps impress potential clients. Home buyers may be more trusting towards realtors who have personal experience with home buying.
If you are an agent, do you own or rent?
