Industry Demographics – Planning for the future
| March 23, 2011
In an effort to assist Council at their recent strategic planning session, RECA staff explored industry demographics using RECA industry member statistics. Below is a sampling of the results.
Mortgage Brokerage – The youngest (by average age) industry sector. The lowest ratio of men to women.
- 380 Brokerages, 2,557 individuals on March 1, 2011
- 384 Brokerages, 2,546 individuals on March 1, 2010
- 58:42 Male to Female Ratio
- 41.4% < 40
- 9.7% < 30
- 8.2% > 60
- 1,498 (58.5%) Licensed & First Registered Since January, 2007 … 504 of those in 2010
- 317 Brokerages (83.4%) with < 10 individuals = 955 IM’s (37.3% Total)
- 14 Brokerages (3.7%) with > 30 individuals = 872 IM’s (34.0% Total)
Real Estate – The oldest (by average age) industry sector. Consistent numbers in the last year.1,048 Brokerages, 11,727 individuals on March 1, 2011
- 1,082 Brokerages, 11,864 individuals on March 1, 2010
- 61:39 Male to Female Ratio
- 26.9% < 40
- 7.1% < 30
- 19.6% > 60
- 47 Industry Members > 80 Years Old
- 3,211 (27.4%) licenced & first registered Since 1997
- 2,686 of the 6,270 who became licenced and first registered in 2005-07 (the boom years) remain in the industry = 42.8%
- 855 Brokerages (81.6%) with < 10 individuals = 2,289 IM’s (19.5% Total)
- 50 Brokerages (3.7%) with > 50 individuals = 6,367 IM’s (54.3% Total)
Do any of these stats surprise you?
Is your industry an attractive career option for young people?
What do these stats mean for the future of your industry?
