By JOHN THOMPSON
Staff Writer

A new study from the National Association of Realtors is shedding light on what is considered a “typical” real estate firm.

Fayette County Board of Realtors association executive said she just received the report and that some of the statistics do mirror some of the real estate firms scattered throughout the county.

While emphasizing that no two companies are alike, the study sampled 30,000 Realtors from around the country to try and see some similar characteristics of companies.

According to the study, the typical real estate firm:

” Is a single-office facility with 1,250 square feet of office space.

” Specializes in residential brokerage.

” Has been in business for 13 years.

” Has a sales force of four agents who are independent contractors.

” Provides in-house training and educational opportunities for their sales associates.

” Uses cellular phone and/or pagers to communicate with agents and clients.

” Operates a web page to attract customers.

” Generates at least 1 percent of its business from on-line services.

The stock market boom and strong housing market have also contributed to real estate firms' profitability. Of the firms surveyed, 59 percent said their profitability had increased from 1998 to 1999.

In the Southeast region, 59 percent reported increased profits, while 26 percent stayed the same and 15 percent reported decreased profits.

Even though profits are increasing, the study did not make any conclusions about where the exact future of real estate companies is headed. One group feels that only large companies offering a variety of services will survive, while other experts believe smaller companies serving niches in the market are the way to survive.

The biggest question seems to be the impact of technology on the industry.

Coldwell Banker Fulton Realty owner/broker Jim Fulton explained the Internet technology in the real estate business is changing everyday and his company is trying to provide the best service for his customers.

At his company's web site, www.realtor.com/Atlanta/cbfultonrealty, customers are greeted with a colorful home page that shows today's interest rates, along with a guide of the available services.

The site features pictures of all the company's listings and offers detailed descriptions of the homes.

While the Internet helps the real estate agents by getting their listings and names out to the public, Fulton explained it also brings the real estate company more informed customers.

“We're having a lot of potential buyers coming into the office who have already picked out their homes,” he said.

Some of the homes displayed on the Internet also offer a virtual tour, which shows a buyer the inside of the home, along with views on all sides of the home.

The wealth of information available also spawns more questions from potential buyers on the neighborhoods and other amenities, which helps keep the agents savvy, he added.

Another recent survey by the National Association of Realtors bears out Fulton's thoughts.

The survey shows that 66 percent of customers who use the Internet as part of their house hunting routine inquire about a house they've discovered on-line.

Only 27 percent ask agents about a general listing of homes in the region.

The Realtors are starting to believe in the power of the new technology. Nearly 75 percent said that Internet marketing is an important feature of their listing preparations.

With technology changing daily, the “typical” real estate firm of today may be totally changed tomorrow. Only time will tell.