REALTOR® Income Improving with Housing Market
REALTOR® business activity and incomes are up for the second year in a row after nine years of declines. The 2013 National Association of REALTORS® Member Profile revealed the median gross income of a REALTOR® rose to $43,500 in 2012 from $34,900 in 2011.
NAR members who are licensed as brokers earned $54,900 in 2012 and the median for sales agents was $34,000. Predictably, median gross income tends to increase with experience; REALTORS® who’ve been in the business for 16 years or more earned $57,300. The typical NAR member has 13 years of experience and works 40 hours per week. Those working 60 hours a week or more earned $85,700 and 21 percent of all members earned a six-figure income. Ninety-four percent are certain they will remain in the business for at least two more years.
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Repeat business and referrals account for a large portion of REALTORS®’ transactions. Talk to a local REALTOR® about the importance of word-of-mouth referrals. Ask home buyers and sellers how they found their REALTOR®. Ask repeat buyers why they chose to work with the same agent.