The National Association of REALTORS® (NAR) recently released its Annual Member Profile. NAR’s June 2018 Profile marked a record high number of 1,334,668 real estate agents among its ranks.

Let’s take a look:

Business Characteristics among NAR members:

65% of agents are licensed.

21% of agents also hold broker association licenses

15% of agents also hold broker assistant licenses

54 years old is median age of REALTORS

10 years of work experience as a REALTOR

Business Activities

40 hours/week is average work time among most agents

3.2 listings/month is average among REALTORS

4.8 clients/month taken by agent for property viewings

12% of clients are repeat clients

17% of clients are referrals from past clients

Income and Expenses

35% of agents are compensated under a fixed commission split

25% of agents are compensated with a graduated

commission split that increases with productivity

$78,850 is median gross income for agents with 10

years or more experience

$8,300 is median gross income for agents with 2 years

or less 4xperience

$1,310 is average expense for vehicle, the largest expense

Office and Firm Affiliation

53% of agents work within independent companies

9% of agents worked within firms that either merged

with other firms or were simply bought out

9 out of 10 agents work as independent contractors

4 years is the median tenure with agent’s current firm

Demographics

54 years old, Caucasian, college graduate and homeowner

63% women

83% own their primary residential property

39% own a second residential property

REALTOR Concerns as of June 2018 

Low inventory

Rising interest rates

Multiple offers

Sales Specifics

31% first-time buyers

22% paid all cash

74% saw prices increase from last year

40% of properties sold at original price or at a net

premium

83% of sellers offered no incentives

26 days is median DOM nationally with only 11 states

above 31 days

 

How do you compare among your peers?