March 2008
A pilot survey was conducted by RealtyU’s Department of Content & eLearning over a 4‐day period in February 2008 to gauge real estate agent experiences with online training programs. The pilot generated 26 responses and will help refine questions for a similar survey with a wider sample pool to be conducted later in 2008. While not statistically significant, the pilot data generated anecdotal information that will be helpful in gauging future responses. At the request of the participants, survey results were summarized and will be distributed to the participant pool. The responses, while anecdotal, were suggestive of average training investments in 2007 of not more than $500 per individual. But the responses also suggested variations depending on the respondent’s role and the number of annual transactions. For example, organizational leaders (broker‐owners, company executives, etc.), seemed to invest more in training than sales associates and associate brokers. Meanwhile, higher training investments were suggested from those closing 20 or more transactions annually than those reporting less than 20 annual transactions. Most of the respondents also indicated convenience as the primary factor compelling their desire to take an online course. Most indicated they had previously taken an online real estate training course and would consider doing so again in the next year. The data was also suggestive of year‐over‐year increases in the average number of courses taken online since 2005. While anecdotal, this information did seem to corroborate similar trends compiled recently in a separate study by the American Society for Training and Development (ASTD) which found online training accounted for about 23% of all learning hours in 2006, up from 16% three years earlier. (Source: ASTD’s State of the Industry Report: 2007.) Of particular interest to us was whether or not real estate professionals generally found value in their experience with online training courses. The majority of respondents indicated they prefer or very much prefer taking online courses over similar real estate courses in the classroom. In terms of quality comparisons between online and classroom‐based courses, respondents tended towards the center indicating online course quality as being about the same or better than those offered in the classroom.
About the author: Mel Aclaro is Director of Content and eLearning Solutions at RealtyU. Copyright: 2008 RealtyU
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n = 26
Copyright: 2008 RealtyU
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Most respondents said they spent less than $500 last year for training, regardless of delivery format. A supplementary detail analysis (graphic not shown) suggests that, perhaps not surprisingly, organizational leaders (execs and broker‐ owners) spent about half‐as‐much more (54%) than sales associates and associate brokers. When viewed anecdotally from the perspective of transaction sides, those responded as having 20 or more transactions per year invested about 4 times as much more in training as those reporting less than 20 transactions.
Not surprisingly, the majority of respondents opted for the convenience afforded by online training as their primary reason for selecting it.
Copyright: 2008 RealtyU
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n = 24
Respondents who said their company currently offers online training vs. those who said their company doesn’t offer online training is about evenly split. And, while the majority of respondents rated the importance of company‐offered online training as Important or Very Important it was interesting to see organizational leaders (company execs & broker‐ owners) rate its importance more highly than the rank and file. Given the neutrality of perceived quality (see slide 6), this may owe to differences held between those who have a stake in decisions for organizational training investments and the perceived quality of that training by its recipients. This may suggest the need for real estate organizations to establish baselines for evaluating the quality of online training whether developed in‐house or contracted from third‐party providers.
n = 26
Copyright: 2008 RealtyU
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Most of our respondents either prefer or very much prefer taking online courses over similar courses offered in a classroom environment. This sentiment seemed to hold pretty steady regardless of role or annual transaction performance.
…But, interestingly, despite their preference for online courses, the same respondents seemed to feel the quality of online training as generally being about on par with similar programs offered in the classroom. This held steady across role‐types and transaction performance of respondents.
n = 26
Copyright: 2008 RealtyU
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Overall, our respondents said they have prior experience with online real estate courses and said they would consider taking an online real estate course again. Additionally, our findings suggest continued growth in the number of courses taken year‐over‐year. This corroborates similar recent findings by ASTD (American Society for Training and Development)* of increases in self‐paced / online training since 2003. *Source: ASTD State of the Industry Report 2007
n = 26
Copyright: 2008 RealtyU
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