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New Study Reveals Correlation Between Individual Personality Traits and Real Estate Sales
Echovate and Partners Discover Unique Profile of Successful Real Estate Agents.
Charleston, SC: Echovate, a people analytics company, announced the findings of their latest in-depth research study, which revealed that several Echovate scales meaningfully predicted real estate agent performance. Echovate partnered with a large real estate agency that works across the Southeastern US for data collection and a major research university for analysis of the data.
“When we organized the study, we set out to discover if there was a relationship between the top agents within an agency and their personality. The results were overwhelmingly positive and showed a strong correlation between a few specific attributes within the Echovate scales, which are representative of the Five-Factor Model. It’s powerful to be able to map out exactly what that profile for success looks like within real estate,” explained Nate Gabelman, CEO at Echovate.
Based on correlation analyses and a best subsets regression analysis, the research team was able to conclude that a successful agent may be someone who:
- is not strongly reliant on pre-established or structured guidelines but able to design their own;
- perseveres in the face of challenges and tenaciously strive for goals;
- prioritizes task completion;
- prefers a work context that is consistent and stable; and
- possesses a strong understanding and compassion for others.
The profile noted above was created based on the evidence that the following five scales were instrumental in agent success: Systematic, Perseverance, Results-Oriented, Flexibility, and Empathy.
“What I find most promising about this initial research is that we’ve created a model which we can efficiently replicate for other industries and roles. We plan to expand upon this study within real estate and are also actively working with other organizations to understand how the ten attributes measured by Echovate can predict success,” added Gabelmen.
Echovate will be releasing additional findings as their research progresses throughout 2022. For more information about the study design, execution, and results, view the Echovate white paper, Real Estate Agents and the Personality Traits that Predict their Success.
About Echovate: Echovate is a people analytics company that leverages behavioral science so organizations can recruit, retain, and grow successful people. Echovate’s data helps to ensure fit, drive performance, and build more cohesive teams by revealing an individual’s strengths and motivations. Learn more about how Echovate can transform your team at echovate.com