Agents confident about future of us property

Agents in the US are confident about the future growth of the industry and their own profitability, according to a new survey.

US real estate has enjoyed a strong recovery since the recession, with local buyers returning to the market, despite a limited supply pushing up prices. The overall optimistic sentiment has spread to agents too, says the National Association of Realtors.

"A majority of firms have a positive view of the future, with 95 percent of all firms expecting their net income to either increase or stay the same in the next year," says NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. "The improving economy continues to fuel job growth, and while some markets are still recovering, the demand for real property is back, and prospects are looking good for the real estate industry."

Commercial firms are the most optimistic, with 75 per cent expecting net income to increase, and 22 percent anticipating it to stay the same. Residential firms are only slightly less optimistic; 69 per cent report that they expect to see an increase in their net income next year, 25 per cent expect it to stay the same, and 6 per cent predict a decrease.