Business continues largely unabated. But a survey of hundreds of agents and buyers suggests the real estate industry faces tough conditions amid the contentious 2024 election.
This report is the first in a two-part series focusing on the presidential election and is available only to subscribers IntelInman’s data and research arm. Register today then check back on October 28 for the series finale.
The results of the Intel survey are clear: For the majority of real estate agents and business leaders, the talk of the 2024 election does not really affect their daily feelings.
Shows go on, offers are sent, clients are closed, and agents are paid — regardless of whether they agree on what should happen in Washington, DC.
But as the two major parties present increasingly conflicting visions of the country’s future — and competing accounts of its recent history — some agents report that instances of political disagreement with clients are becoming increasingly rare.
And some brokers say they’ve seen it spill over into conflict within the brokerage itself.
- Many agents – about half of those surveyed in late September and early October by the Inman Intel Index – they say their customers bring politics, in comparison 1 only 5 who say their customers never raise the topic.
At the end of September and the beginning of October, hundreds of agents and leaders of brokerages shared with Intel that they plan to support him in November, and what their experience was with customers and members of the sales team.
Their answers shed light on an industry that often bends over backwards to avoid personal disagreements that have derailed a deal.
The results also reveal that the two different experiences – those of real estate professionals who support Donald Trump, and those who support Kamala Harris’ agent or realtor – sometimes differ.
Read the full description in the report below.
Agent-client relationship
Whether it’s at a show or in another setting, it’s clear that many agents encounter clients who are outspoken about their political views, especially in a presidential election year.
And while many real estate experts see little difference in 2024 compared to 2020, nearly a quarter of agent respondents told Intel that election talk is causing more problems for clients than in the past.
- The vast majority of agent respondents – 2 in 3 – said this election does not impose pressure in an agent-client relationship than the 2020 election.
- But for the agents who say they have seen a change, those who are watching the tension is high this year the number is about 4 to 1 those who say it is no more intense than what they remember four years ago.
As mentioned above, it is not uncommon for the topic of politics to come up while viewing a client.
That means that, despite occasional moments when tensions erupt from below, diplomats of all political classes tend to control the situation rather than defuse the conflict.
- Only 2 percent of the respondents were agents he said they feel free to weigh in after a customer has a political opinion they don’t agree with.
- On the other hand, 48 percent of agents responded they said they “almost always” keep their opinion to themselves if their client shares a political opinion that doesn’t align with the agent’s beliefs.
However, this leaves the door open to political negotiations of a different nature: when the client raises a point the agent agrees with.
- 23 percent of agents responded told Intel that once they learn that their customers share their ideas, the agent then feels free to reflect on their ideas.
- But an almost larger portion— 18 percent – will almost always stay away from sharing political views even if they think their customers would agree with them.
But this type of client conversation is not the only way the election has entered the trading experience.
Seller-agent relationship
Broker owners and executives are least likely to report that politics is a common topic of discussion at the brokerage level.
- About 1 in 3 brokerage leader respondents to the Intel Index in September said their agents sometimes express politics, vs. 1 in 7 whose ambassadors almost never bring up the subject.
Inside the walls of the brokerage, however, managers and broker owners are less likely to keep their mouths shut when they hear a political opinion from an agent they disagree with.
- Only 20 percent of respondents are brokerage leaders told Intel that they “almost always” keep their opinions to themselves when an agent shares a political position they disagree with, compared 48 percent are agents they say the same about their interactions with customers.
- The same share of brokerage leaders – 20 percent – told Intel that they felt free to moderate to disagree with the agent’s political views, relatively speaking 2 percent of agents they say the same about their client interactions.
This liberal attitude makes sense. A broker-agent relationship is more formal than a client-agent relationship. And if the political conversation between the agent and the seller turns south, it is not expected to jeopardize the deal from the seller’s point of view.
Interestingly, some traders believe this election is less disruptive at the brokerage level than the 2020 contest.
- 11 percent of brokerage leaders told Intel that this election has put less strain on the broker’s relationship than he remembers happening in 2020.
- However, these leaders were outnumbered 25 percent who say that this election has created more tension than in the past, and 63 percent who said it is almost the same.
These approaches reflect the general conditions within the brokerage and outside the field.
But Intel also found a distinct difference in how Trump supporters and Harris supporters engage with politics in their real estate business.
2 brokerage experience
Most agents who responded to this month’s Intel Index don’t have a clear idea of where their typical client falls on the political spectrum.
But for those who do, some patterns have emerged from the research.
Agents plan to vote for Harris…
- …they may feel out of step with their customers’ political beliefs – 23 percent of Harris supporters they say they see that their customers are more conservative than they are, only in comparison 11% of Trump supporters they say they see that their customers are more comfortable than they are.
- …and are more likely to report “unacceptable tension” when their clients bring up politics – 11 percent of Harris supporters report feeling such tension, while ending 3% of Trump supporters you say the same.
Meanwhile, some patterns of behavior and customers seem more common among agents who support Trump in the survey.
Agents plan to vote for Trump…
- …they might say that their customers come with politics too – 51 percent of Trump supporters to say this to their customers, in comparison only 45 percent of Harris supporters. On a related note, only 15 percent of Trump supporters say that their customers have never expressed politics, in comparison 26 percent of Harris’ followers said the same.
- …and it is possible to report that political interaction with customers is becoming more and more difficult – 31 percent of Trump supporters they say politics has caused more friction with customers in 2024 than they remember since 2020, compared 21 percent of Harris supporters who report similar experiences.
Next week, Intel will dive deeper into the results of the Inman-Dig Insights consumer survey, examining consumer behavior and attitudes toward the real estate industry through the lens of Harris support and Trump support.
Inman Intel Index methodology notes: For this month Intel Index survey was conducted from September 18 to October 4 and received 441 responses. The entire Inman student community was invited to participate, and a rotating, random selection of community members was encouraged to participate via email.. Users answered a series of questions related to their own corner of the real estate industry – including real estate agents, brokerage leaders, lenders and proptech entrepreneurs.. The results reflect the views of Inman’s engaged community, which may not always be the same as those of the broader real estate industry. This survey it is done every month.
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