Highlights from the NAR Member Profile
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Introduction
Based on a random sampling of membership of the National Association of REALTORS®, the annual Member Profile strives to answer the question: Who are REALTORS®?
This report examines:
Business Characteristics of REALTORS®
- 65% of REALTORS® were licensed sales agents
- 21% held broker licenses
- 15% held broker associate licenses
- The typical REALTOR® had 10 years of experience.
- 80% of REALTORS® were very certain they would remain active as a real estate professional for two more years.
Business Activity of REALTORS®
- For the fifth year in a row, the difficulty finding the right property surpassed the difficulty in obtaining mortgage financing as the most cited reason limiting potential clients.
- Most REALTORS® worked 40 hours per week in 2017, a trend that has continued for several years.
- The typical REALTOR® earned 12% of their business from repeat clients and customers, and 17% through referrals from past clients and customers.
Income and Expenses of REALTORS®
- In 2017, 35% of REALTORS® were compensated under a fixed commission split (under 100%), followed by 25% with a graduated commission split (increases with productivity).
- REALTORS® with 16 years or more experience had a median gross income of $78,850 compared to REALTORS® with 2 years or less experience that had a median gross income of $8,330.
- The largest expense category for most REALTORS® was vehicle expenses, similar to last year, which was $1,310.
Office and Firm Affiliation of REALTORS®
- 53% of REALTORS® were affiliated with an independent company.
- Nearly 9 in 10 members were independent contractors at their firms.
- The median tenure for REALTORS® with their current firm was four years again in 2017.
- 9% of REALTORS® worked for a firm that was bought or merged in the past two years.
