Recent stats released by the National Association of Realtors (NAR) are encouraging. Both the business activity and income of REALTORS® are up for the second year in a row, following nine years of decline. According to Paul Bishop, NAR’s vice president of research. “Median REALTOR® income had fallen by 35 percent during the housing downturn that began in 2006.”
The median income number depends on a number of factors. Members licensed as brokers typically earned $54,900 in 2012, while the median for sales agents was $34,000. Median gross income tends to increase with the degree of time invested; those in business for 16 years or more earned $57,300 and those working 60 hours a week or more earned $85,700.
As in all professions, those who are better educated and work harder, reap a better income. When interviewing Realtors, perhaps three questions that should be asked might be; How many properties did you close last year? Are you a Broker or a Sales Associate? How many hours of full time Real Estate work do you average per week? It’s unrealistic to expect a part-time agent to yield the same value as a full-time Realtor engaged to accomplish that outcome in your behalf.
Regardless or the answer, this report should dispel the myth that Real Estate Agents make easy money or are overpaid. The world will generally pay you what it thinks you are worth. In the business of representing Sellers and Buyers of Real Property, this axiom holds very true.
Get additional highlights from the profile in this 60-second video from REALTOR® Magazine.
Feel free to contact me with any questions or comments.
Kelly Groth
Keller Williams Realty
916-316-4000 call or text
