Even with sluggish sales in many areas, real estate agents are showing a commitment to stay the course and support buyers and sellers through shifting market conditions, according to the newly released National Association of REALTORS®’ 2025 Member Profile. Seventy-four percent of real estate professionals who are REALTORS® were “very certain” they will remain active in the business for the next two years, appearing to shrug off slower home sales.
"The real estate market will always have a consistent flow of new entrepreneurs,” says NAR Deputy Chief Economist Jessica Lautz. At the same time, existing practitioners are expanding their business specialties or remaining focused on helping their clients overcome their biggest stressors in the market: housing affordability and elevated mortgage rates.
“Despite the headwinds in the current market,” Lautz says, “the majority of agents who are REALTORS® plan on staying in real estate as an active professional.”
That commitment should pay off for them and their clients when the housing market sees a turnaround: NAR is forecasting existing-home sales to increase by the end of 2025 by 3% and surge by 14% in 2026, according to the association’s latest housing forecast.
Guiding Clients Through the Market’s Biggest Challenges
In recent years, elevated mortgage rates and rising home prices have put tremendous pressure on buyers’ budgets. In fact, this year, “affordability” surpassed “difficulty in finding the right property” as the biggest hurdle buyers facing, according to the Member Profile.
The top home-buying barriers (in order), according to REALTORS®, are:
- Housing affordability: 25%
- Expectation that mortgage rates might come down: 19%
- Lack of inventory: 17%
- Difficulty in finding the right property: 10%
- No factors are limiting potential clients: 7%
- Expectation that prices might fall further: 6%
- Low consumer confidence: 4%
- Difficulty in obtaining mortgage finance: 3%
- Ability to save for down payment: 2%
- Ability to sell existing home: 2%
Incomes Rise, Sides Hold Steady
In addition to highlighting challenges in the market, NAR’s Member Profile gives real estate professionals an annual look at the median income and expenses in the industry. The 2025 Profile, released Aug. 6, is based on a survey of NAR members reporting their 2024 transaction data.
Overall, responses showed the median gross income of a REALTOR® rose to $58,100 in 2024—up from $55,800 in 2023. The typical member completed 10 transaction sides in 2024, holding steady from 2023’s numbers. The typical sales volume remained at $2.5 million in 2024, also unchanged from the previous year.
Experience Continues to Pay Off
The typical REALTOR® had 12 years of experience, up from 10 in last year’s report. The share of members with more than 25 years of experience rose to 21% this year, up from 19% last year.
“As REALTORS® gained a larger network of referrals and previous clients and experience, their income generally rose,” the report notes. For example, REALTORS® with 16 years or more experience had a median gross income of $78,900. By contrast, REALTORS® who’d worked in the business for two years or less had a median gross income of $8,100.
Real estate often isn’t a first career stop. Among REALTORS® who transitioned from another career, most came from sales, retail, business or finance. With a median age of 57—and 44% of REALTORS® over age 60—NAR members bring deep professional experience and maturity to the table.
Diversifying Services Through Specialties
Although 70% of NAR members specialize primarily in residential brokerage, there is a range of primary specialties among members—and many real estate professionals ramp up business opportunities by branching out. Among the most common secondary specialties cited by REALTORS® are residential property management, relocation and commercial brokerage.
Past Clients Remain Key Source of Leads
Keeping in touch with past clients remained an important part of maintaining customer pipelines. REALTORS® typically earned 20% of their business from repeat clients and 21% through referrals from past clients and customers.
The longer real estate professionals stay in the business, the more clients come to them—reducing the need to constantly prospect for new leads. Among those with 16 or more years of experience, 40% said repeat clients made up more than half their business. Referrals were also more common, accounting for 28% of business for more seasoned agents.
Budgeting Smartly in a Time of Inflation
Faced with high inflation, real estate pros are budgeting wisely for business expenses. The total median annual business expenses were $8,010, a slight decrease from $8,450 in 2023, NAR’s Member Profile shows. The largest expense category continues to be the cost of operating a vehicle for business.
Technology Is a Vital Client Connection Tool
“It’s clear that technology can assist home buyers when inventory is limited and buyers are moving further distances,” the report says.
Many REALTORS® use websites to not just promote their property listings but also to post information about the buying and selling process, helping them reach prospective clients who are in the research phase. Real estate pros are also using social media to connect with leads, particularly focusing on Facebook, LinkedIn and Instagram.
The most common technologies used by NAR members are the multiple listing service, and electronic forms and signatures. But several emerging technologies are also gaining prominence, including apps for CMAs and design. (Stay up to date on innovations in real estate with NAR’s Technology and Innovation blog.)
