It’s not unusual for married couples to go into business together; however, until recently, not many of them were engaged in the real estate business. That trend seems to be changing somewhat, as the National Association of Realtors® reports it now has more husband-wife teams than ever before who are obtaining their real estate license together.
Some experts in this industry claim the number of husband and wife teams number between 10,000 and 20,000 nationwide, and that the number has increased dramatically over the past few years. Insiders claim that while a number of couples initially go into business together, there is also an increase in the number of men who are joining their wives in business because other job opportunities have become non-existent.
The trend toward husband-wife real estate teams tends to be most common among couples that have been married 15 years or more and are also “empty nesters.” Even so, a growing number of newlywed couples are also taking the plunge and diving into the real estate business together. The concept also tends to work well for parents of young children, whom can “tag team” showings so that one parent is always at home with the kids when needed.
There are a number of benefits to becoming real estate partners for both spouses.
Wives tend to earn more money, while husbands tend to have a greater commitment to their employers, according to a study by the Employment and Family Careers Institute at Cornell University.
Couples who are planning to go into the real estate business together would also do well to study for their real estate license together as well. Here at the Chicago Real Estate Institute, we have a self-study course that would be perfect for couples that plan to go into business together later. Our Accelerated Broker Course and our Live Leasing Course are great opportunities as well for partners. To find out more about any of these classes, contact us.