Each year, the National Association of REALTORS® randomly samples their members to answer questions about who today’s real estate pros are. It examines everything from their demographics and economic preferences to their business activity and practices.
The newest report shows that membership within the National Association of REALTORS® has increased from 1.16 million in March 2016 to 1.22 million in March 2017, with 82% of those sampled very sure they’ll maintain their profession for at least two more years. Here are a few deeper insights from the report:
Today’s Real Estate Pro: Business Characteristics
- 65% of REALTORS® are licensed sales agents, 22% hold broker licenses, and 15% hold broker associate licenses.
- The typical REALTOR® has ten years of experience.
- 52% of REALTORS® reported having a website for at least five years, 10%reported having a real estate blog, and 69% of members are on Facebook and 61% on LinkedIn for professional use.
- 82% percent of REALTORS® are very certain they will remain active as a real estate professional for two more years.
Today’s Real Estate Pro: Business Activity
- In 2016, the typical agent had 12 transactions, which is up from 11 transactions in 2015.
- The typical REALTOR® earned 13% of their business from repeat clients and customers and 18% through referrals from past clients and customers.
Today’s Real Estate Pro: Income and Expenses
- The median gross income of REALTORS® was $42,500 in 2016, an increase from $39,200 in 2015.
- The median business expenses were $6,000 in 2016, a decrease from $6,300 in 2015.
Today’s Real Estate Pro: Office and Firm Affiliation
- 51% of REALTORS® are affiliated with an independent company.
- Nearly 90% of members are independent contractors at their firms.
Today’s Real Estate Pro: Demographic Characteristics
- 63% of all REALTORS® are female
- 17% of REALTORS® had a previous career in management, business, or finance, and 16% in sales or retail. Only 4% of REALTORS® reported real estate was their first career.
For more highlights or to purchase the full report, visit the NAR website.