What are Realtors up to?
The 2009 National Association of Realtors’ Member Profile was recently released and while we encourage everyone to read all 84 pages, we’ll give you the highlights:
Realtors & Technology
- 60% of Realtors have a website aged an average of 5 years.
- The most common info on the websites (according to NAR) is the member’s own listings.
- Over 1/3 of Realtors use social networking sites.
- 17% of Realtors regularly use blogs, RSS feeds and podcasts, up 5% from last year.
- Years in practice had no bearing on use of social media.
Realtor Demographics
- NAR reports “the typical REALTOR® is a 54 year old white female who attended college and is a homeowner.”
- 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.
- 9% of Realtors were born outside the U.S.
- 96% of members are registered to vote.
Business Activity
- Brokerage specialists averaged 7 transactions in 2008 and averaged 8 in 2007.
- 40% of Realtors transacted at least one property in foreclosure.
- 23% of business of Realtors licensed 16+ years originated with referrals from past clients.
- 39% of Realtors generated “some” business from holding an open house.
Income & Expenses
- 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.
- 70% of Realtors are compensated on a percentage split commission.
- 73% of Realtors reported being “very certain” they’ll remain int he business for at least two more years (therefore, 27% reported uncertainty of being in business for that long).
Brokerage Models
- 50% of Realtors are affiliated with an independent, non-franchised brokerage.
- Realtors are affiliated with firms having a median of 23 brokers and agents.
- 25% of Realtors have spent 11+ years with their current brokerage.
- 64% of brokers have some ownership interest in their firm.
- 72% of Realtors receive no benefits through their firm.
- 12% of Realtors worked for a firm that was bought or merged in the past 24 months.
Designations, Affiliations
- 35% of Realtors hold a minimum of one professional designation, up 3% from last year.
- 20% have a GRI (Graduate, Realtor Institute), 13% have a ABR (Accredited Buyer Representative), 10% have a CRS (Certified Residential Specialist), and 5% have a SRES (Seniors Real Estate Specialist).
- 16% of Realtors hold a specialized training certification.
- 25% of Realtors belong to one or more affiliated institutes or councils. 11% belong to CRS (Council of Residential Specialists), 10% to REBAC (Real Estate Buyer’s Agent Council), 4% to WCR (Women’s Council of Realtors) and 3% to CREB (Council of Real Estate Brokerage Managers).
Professional Focus
- 60% of Realtors are licensed as sales agents, 53% actually functioned as sales agents.
- The average years of experience for a Realtor is 10 years.
- 82% of Realtors specialize in residential real estate.
- 22% of Realtors have a secondary focus on relocation, 21% in commercial brokerage, 17% in residential property management, 14% in land development, and 14% in counseling.
