Thursday, May 17, 2007

Realtor demographics

Saw this nugget from NAR:

SURVEY CHARACTERIZES REALTORS

WASHINGTON, D.C. (National Association of Realtors) – A recent member survey by the National Association of Realtors (NAR) found that Realtors work mostly on commission and earn more over time. Among the findings:

**Median income was $47,700 in 2006, down from $49,300 in 2004. Members licensed as brokers earned a median of $73,700 last year, while sales agents earned $34,600.

**Men earned a median income of $58,600 in 2006 and were more likely to be brokers, while women earned $42,000 and were more likely to work part time.

**Realtors in the business for two years or less earned a median income of $15,300, while those with three to five years of experience earned $44,200. For six to 15 years, the median was $64,600, while members in the business for 16 or more years earned $76,200.

**Nearly six in ten NAR members are women.

**Five percent are younger than 30 while another 6 percent are 30 to 34 years old; 12 percent are 65 or older.

**Most Realtors hold a sales agent license (63 percent), followed by a broker’s license (22 percent), broker associate (16 percent), and appraiser license (3 percent). One percent hold some other kind of license.

**One quarter of all business is from referrals or repeat business from previous clients.

**Seven out of ten are compensated through a split commission arrangement, 17 percent receive a full commission and another 3 percent receive a commission plus a share of profits.

**Only 10 percent work fewer than 20 hours per week and 30 percent work 20 to 39 hours per week, while 15 percent work at least 60 hours per week.

**Eight out of ten brokers report their primary business specialty is residential brokerage.

**Nine out of ten members report their firms have websites, and 61 percent have personal websites.

**Half of all members communicate with their clients by e-mail more than 50 percent of the time.

For information on other findings, visit www.realtor.org.

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