In 2018, there was a continued rise in new members of the National Association of REALTORS (NAR), increasing from 1.22 million in March 2017 to 1.30 million in April 2018, according to the latest NAR Member Profile.
The median age of REALTORS was 54 in the 2018 survey, slightly up from the last two years at 53. The median age held steady between 56 and 57 from 2011 to 2015. The drop in age may be attributed both to members retiring and to new younger entrants to the business. The typical REALTOR was a 54-year-old white female who attended college and was a homeowner. Sixty-three percent of all REALTORS were female.
Impacted by limited inventory, the typical number of transactions decreased slightly from 12 transactions in 2016 to 11 transactions in 2017. Despite rising home prices again in 2017, the median brokerage sales volume decreased to $1.8 million in 2017 from $1.9 million in 2016. The typical REALTOR earned 12 percent of their business from repeat clients and customers and 17 percent through referrals from past clients and customers.
Broker Income and Expenses
The median gross income of REALTORS was $39,800 in 2017, a decrease from $42,500 in 2016. Sixty percent of members (up from 56 percent of members) who have two years or less experience made less than $10,000 in 2017 compared to 40 percent of members with more than 16 years of experience who made more than $100,000 in the same time period. REALTORS with 16 years or more experience had a median gross income of $78,850—up from $73,400 in 2015.
The median business expenses were $4,580 in 2017, a decrease from $6,000 in 2016. The largest expense category for most REALTORS was vehicle expenses, similar to last year, which was $1,310.
Sixty-five percent of REALTORS were licensed sales agents, 21 percent held broker licenses, and 15 percent held broker associate licenses.