compiled from 2019 and 2020 information…
Business Characteristics of REALTORS®
65% hold sales agent licenses, 22% broker licenses, 15% broker associates
73% specialize in residential sales
The typical member has 9 years’ experience, 17% with less than a year experience
Shared experience of 25 years or more, 17%
Personal assistants- Only 16%, mostly broker owners and managers
30% of REALTOR® firms have a relocation department
80% of members were certain they would stay in the business for 2 more years
Business activity of REALTORS®
94% of appraisers appraised residential properties, 26% appraised land/farms
Typical appraiser appraised 204 properties
63% practiced single agency, 35% buyer and seller agency with disclosed dual agency, 11% transactional
Typical agent had 12 transactions; 33% reported one commercial deal
80% of property managers handled single family residential homes, 59% multi-family, 23% office property
Typical REALTOR® worked 36 hours
Typical agent earned 15% of their business from past clients
66% of agents reported no business from open houses
Income & Expenses of REALTORS®
37% were compensated under a fixed commission split (under 100%),
22% with graduated based on productivity
16% with a capped split (rises to 100 percent after a predetermined threshold)
Total medium expenses were $6,290
Medium gross income from real estate activities of REALTORS® was $49,7000
Sales agent medium income- $35,000,
Broker owners, managers, appraisers slightly higher
Only 2% received a sign-on bonus
Typical website maintenance- $70
Agents spent $60 on social media advertising; broker owners, managers $100
Office and Firm Affiliation of REALTORS®
52% reported they worked with an independent company
42% of REALTORS® were affiliated with a firm with a single office
25% worked at a firm with 2-4 offices
Medium tenure at current firm was 4 years
50% of brokers had some ownership interest; 33% sole ownership
Errors and omissions insurance was leading agent benefit
69% worked independently, 30% as part of a team
Technology and REALTORS®
Daily 9 out of 10 use a smartphone and wireless email, the internet, laptop or desk top
Daily 95% use email; 59% use social media, 66% use multiple listing software
77% have their own website, 44% of which are provided by the firm
76% are on Facebook, 60% use LinkedIn, 42% Instagram
26% do not use social media
A typical REALTOR® receives no inquiries from their website; brokers owners and manager receive the highest number due to greater spending
Social media brought in 2% for a typical agent continues to decline
Demographics Characteristics of REALTORS®
64% were female; 58% are 60 years and older;
Medium age was 55
93% had some post-secondary education, 33% completed a bachelor’s degree
Previous careers of agents- management, business or finance, sales
Only 5% was real estate the first career
73% reported that real estate was their only occupation
69% were married, 16% divorced, 10% were single or never married
80% were white, 10% Hispanics, blacks, 6 % Spanish was most common second language
Medium gross REALTOR® household income was $121.5000
83% of REALTORS® owned their own primary residence; 38% owned other
properties; 21% said they owned at least one commercial property
96% of REALTORS® are registered to vote
72% volunteer in their communities
13% were veteran; 1% active-duty service members
The Profile is just $14.95 for members for download (a $149 value)
2020 Member Profile – REALTOR® Store