Employee Benefits Summary for the Real Estate Industry

Learn more about the types of benefits real estate companies offer across medical, short term disability, long term disability, life, vacation and leave and financial incentives.

Did you know about 69% of Real Estate Companies offer medical insurance?

Complete Benefits Guide:

  • Medical
  • Disability
  • Life
  • Sick & Vacation
  • Retirement

 

The real estate industry deals with a host of activities: renting or leasing property to others; managing property for others; and selling, buying, or renting property for others. Other services, such as appraisals, are also included under this umbrella.

Real estate is a vast field that requires a number of vital occupations to function. Bookkeepers and accountants keep track of the money exchanged, landscapers and groundskeepers ensure that the property looks great, and brokers use their extensive education to guarantee the deal goes smoothly. Businesses looking to bring on the best talent in this sector will need to provide adequate compensation to stand as a differentiator against their competition.

Usually with smaller offices, access to individual plans is important and giving employees options to make the best selection for their needs across medical, disability, life and other plans.

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The Real Estate Industry Employment Summary

As of January 2021, there were 349,000 real estate companies nationwide, employing over 1.6 million professionals. On average, each business is small, with only 5 staff members. This industry is evenly split between male and female employees, and the average employee age is 49 years old.

The Real Estate Industry Insurance Benefits Comparison

69% Offer Medical Benefits

What percentage of real estate employers offer medical insurance?

  • 69% offer access to medical insurance. This meets the national average.
  • These businesses provide an average monthly employer premium of $1,134 for family coverage. This is in-line with the national average of $1,121.
  • Additionally, they provide an average monthly employer premium of $484 for individual coverage. This is above the national average of $458.
40% Offer Short-Term Long-Term Disability

What percentage of real estate employers offer short and/or long-term disability insurance?

40% of these employers offer short-term disability coverage, and 33% offer long-term disability insurance. The national average is 42% and 34%, respectively.

52% Offer Life Insurance

What percentage of real estate employers offer life insurance?

52% offer access to a life insurance plan. Comparatively, the national average is 56%.

13% Offer PaidFamily Leave

Do real estate employers provide access to paid family leave?

  • 13% provide access to paid family leave. The national average is 20%.
  • 93% provide access to unpaid family leave. The national average is 88%.
  • 30% offer consolidated leave plans. The national average is 44%.

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In my 25 years of benefit experience, I have never seen information like this

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Summary

Altogether, the real estate industry has some improvements they have to make in order to be in-line with the national industry standard for providing comprehensive employee benefits packages. Employers have the opportunity to amp up their benefits offerings, including providing more retirement savings plans, increasing disability coverage, and providing more inclusive access to paid family leave. Once these changes have been made, employers will be able to better meet their employee’s needs, while attracting and retaining new talent to their teams for years to come.