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?
