This portrait that emerges from the myriad statistics gathered by the NAR is that of a hard working professional very much in tune with issues faces by clients in difficult financial times. The stats challenge the myth that Realtors® are rolling in money from their 6% commissions.
- 60% of all Realtors® are female.
- The median age of Realtors® is 54 years old.
- 75% of Realtors® don't have a second job whereas 25% state real estate is not their only occupation.
- Under 50% of Realtors® surveyed noted real estate is their primary source of household income.
- 72% of Realtors® receive no benefits through their firm.
- Median gross income of Realtors® fell 14% to $36,700 in 2008.
- Median gross income of Realtors® with 2 years or less experience was $8,600.
- Median gross income of Realtors® with 16 years or more experience was $53,900.
- Realtor® annual business expenses fell to $5,810 in 2008 from $6,580 in 2007.
- 73% of Realtors ®reported being "very certain" they'll remain in the business for at least two more years (so 27% reported uncertainty of being in business for that long).
The deal with statistics is that not everyone is at the median so some Realtors® are prospering despite the recession. There is still opportunity out there!