Who is your partner when buying or selling real estate?
Realtors® are licensed members of the National Association of Realtors® and this is who you’re partnering with:                                                           

Highlights
Business Characteristics of REALTORS®

♦ 65% of REALTORS® were licensed sales agents, 22%  held broker licenses, and 17% held broker associate licenses.
♦ The typical REALTOR® had ten years of experience, down from 11 last year.
♦ Fifteen percent of members had at least one personal assistant.
♦ REALTORS® most often reported their primary specialty as residential brokerage at 74%
♦Seventy-three percent of REALTORS® were certain they would remain active as a real estate professional for the next two years.

Business Activity of REALTORS®

♦ In 2023, the typical agent had 10 transactions, down from 12 in 2022.
♦ The median sales volume for brokerage specialists decreased to $2.5 million in 2023 from $3.4 million in 2022.
♦ At 26 percent, both lack of inventory and housing affordability surpassed the difficulty of finding the right property as the most important factors limiting potential clients from purchasing.
♦The typical property manager managed 31 properties in 2023, down slightly from 40 properties in 2022.
♦The typical REALTOR® earned 20 percent of their business from repeat clients and customers, and 21 percent through referrals from past clients and customers. Income and Expenses of REALTORS®
♦ In 2023, 35 percent of REALTORS® were compensated under a fixed commission split (under 100%), 20 percent with a graduated commission split (increases with productivity), and 20 percent with a capped commission split (rises to 100% after a predetermined threshold).
♦The median gross income of REALTORS®—income earned from real estate activities—was $55,800 in 2023, a decrease from $56,400 in 2022.

Demographics for Realtors®

♦Formal Education of REALTORS®:

• • Some college: 27%
  • Bachelor’s degree: 34%
  • Graduate degree and above 13%
  • Associate degree: 13%
  • Some graduate school: 5%
  • High-school graduate: 7%

♦Realtor® Affiliation with Firms:

• • Independent contractor: 88%
  • Employee: 5%
  • Other: 8%

And we’re more than statistics. While you’re not watching we’re in the background searching for properties,  pulling data for pricing, and pushing across the finish line at closing.

The 2024 NAR Member Profile is filled with detailed information based on 2023 data.  It will be interesting to see how the 2024 data presents itself.