{"id":18984,"date":"2022-07-11T12:23:47","date_gmt":"2022-07-11T17:23:47","guid":{"rendered":"https:\/\/theamericangenius.com\/housing\/?p=18984"},"modified":"2022-07-11T12:27:48","modified_gmt":"2022-07-11T17:27:48","slug":"this-nar-report-is-what-all-growing-brokerages-memorize-every-year","status":"publish","type":"post","link":"https:\/\/theamericangenius.com\/housing\/real-estate-brokers\/this-nar-report-is-what-all-growing-brokerages-memorize-every-year\/","title":{"rendered":"This NAR report is what all growing brokerages memorize every year"},"content":{"rendered":"<p>What if I told you that there was a roadmap that informed Realtors and brokers of the latest 2022 trends like what a typical Realtor makes, where those earnings came from, what splits they&#8217;re paid, what expenses they&#8217;re seeing, what technologies they&#8217;re using, and so much more? <\/p>\n<p>There is, it&#8217;s the <a href=\"https:\/\/store.realtor\/2022-nar-member-profile-download\/\" rel=\"noopener\" target=\"_blank\">2022 National Association of Realtors Member Profile<\/a> and they&#8217;ve lost their damn minds and discounted it this year to just over $14 (<em>I swear we&#8217;ve paid $150, so that&#8217;s a pretty sweet deal<\/em>). <\/p>\n<blockquote><p>The Member Profile is a well known tool that leaders use to gauge their own experiences, but more importantly, it&#8217;s data that anyone recruiting agents <em>memorizes<\/em> each year. So if you plan on ever growing, this report is your baseline. <\/p><\/blockquote>\n<hr \/>\n<p>Here are the report&#8217;s highlights, according to NAR: <\/p>\n<p><strong>Business Characteristics of REALTORS\u00ae<\/strong><\/p>\n<ul>\n<li>67% of REALTORS\u00ae were licensed sales agents<\/li>\n<li>21% held broker licenses<\/li>\n<li>14% held broker associate licenses<\/li>\n<li>The typical REALTOR\u00ae had 8 years of experience, the same as last year.<\/li>\n<li>79% of REALTORS\u00ae were very certain they will remain active as a real estate professional for the next two years.<\/li>\n<\/ul>\n<p><strong>Business Activity of REALTORS\u00ae<\/strong><\/p>\n<ul>\n<li>At 57%, lack of inventory remains the most important factor limiting potential clients from making a purchase.<\/li>\n<li>Most REALTORS\u00ae worked 35 hours per week in 2021, the same as last year.<\/li>\n<li>The typical REALTOR\u00ae earned 16% of their business from repeat clients and customers, and 20% through referrals from past clients and customers.<\/li>\n<li>The typical property manager managed 41 properties in 2021, slightly up from 39 properties in 2020.<\/li>\n<\/ul>\n<p><strong>Income and Expenses of REALTORS\u00ae<\/strong><\/p>\n<ul>\n<li>In 2020, 36% of REALTORS\u00ae were compensated under a fixed commission split (under 100%), 20% with a graduated commission split (increases with productivity), and 18% with a capped commission split (rises to 100% after a predetermined threshold).<\/li>\n<li>REALTORS\u00ae with 16 years or more experience had a median gross income of $85,000\u2014up from $75,000 in 2020\u2014compared to REALTORS\u00ae with 2 years or less experience that had a median gross income of $8,800\u2014an increase from $8,500 in 2020.<\/li>\n<li>The largest expense category for most REALTORS\u00ae was vehicle expenses, which was $1,460.<\/li>\n<\/ul>\n<p><strong>Office and Firm Affiliation of REALTORS\u00ae<\/strong><\/p>\n<ul>\n<li>54% of REALTORS\u00ae are affiliated with an independent company.<\/li>\n<li>87% of members are independent contractors at their firms.<\/li>\n<li>The median tenure for REALTORS\u00ae with their current firm was five years, the same as last year.<\/li>\n<li>31% of REALTORS\u00ae worked for a firm that was bought or merged in the past two years.<\/li>\n<\/ul>\n<p><strong>Technology and REALTORS\u00ae<\/strong><\/p>\n<ul>\n<li>96% of REALTORS\u00ae reported using a smartphone nearly every day.<\/li>\n<li>68% of REALTORS\u00ae reported having a website for business use.<\/li>\n<li>For professional use, REALTORS\u00ae were typically most active on Facebook, LinkedIn, and Instagram<\/li>\n<li>REALTORS\u00ae most often communicate with clients via text messaging (94%), telephone (92%), and email (90%).<\/li>\n<\/ul>\n<p><strong>Demographic Characteristics of REALTORS\u00ae<\/strong><\/p>\n<ul>\n<li>The typical REALTOR\u00ae was a 56-year-old white female who attended college and was a homeowner.<\/li>\n<li>66% of all REALTORS\u00ae were female, up slightly from 65% last year.<\/li>\n<li>The majority of REALTORS\u00ae\u201484%\u2014own their primary residence and 37% own a secondary property.<\/li>\n<\/ul>\n<blockquote><p>Download <u><a href=\"https:\/\/store.realtor\/2022-nar-member-profile-download\/\" target=\"_blank\" rel=\"noopener nofollow\">the full report here<\/a><\/u>.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Quality brokerages are good at attracting top talent because they know the market. This NAR report is an important baseline for growing real estate companies.<\/p>\n","protected":false},"author":2,"featured_media":18986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[94],"tags":[2323,1234,2324],"class_list":["post-18984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-brokers","tag-nar-member-profile","tag-real-estate-news","tag-recruiting"],"jetpack_featured_media_url":"https:\/\/theamericangenius.com\/housing\/wp-content\/uploads\/sites\/2\/2022\/07\/nar-member-report.jpg","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/18984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/comments?post=18984"}],"version-history":[{"count":4,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/18984\/revisions"}],"predecessor-version":[{"id":18990,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/18984\/revisions\/18990"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media\/18986"}],"wp:attachment":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media?parent=18984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/categories?post=18984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/tags?post=18984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}