NAR Reports Members’ Income Rose for First Time Since 2002

For the first time since 2002, the ""National Association of Realtors"":http://www.realtor.org/ (NAR) reported that income for its members (REALTORS®) increased in 2011.

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""The median income of a REALTOR® rose 2.3 percent to $34,900 in 2011, which is the first overall gain in nine years,"" said Paul Bishop, NAR VP of research. ""Many REALTORS® have persevered through very difficult market conditions and understand the cyclical nature of the business, but have never had to endure a cycle like the one that is presently waning.""

Members who are licensed as brokers typically earned $48,400 in 2011, while the median for sales agents was $27,200.

For NAR members who have 16 or more years of experience, income earned was $50,200. Members working 60 hours a week or more earned $80,900, and 17 percent of all members had a six-figure income.

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“Our members are tapping into resources that give them an edge up on challenging conditions, whether it’s helping a buyer negotiate a distressed sale or find a loan, or in helping a seller with effective marketing,"" said NAR President Moe Veissi.

The typical NAR member has 11 years of experience and works full-time. Most members are women, with 55 percent licensed as brokers and 66 percent sales agents.

Also, the survey revealed the typical NAR member is 56 years old, and only 2 percent are under 30 years old, while 22 percent are 65 or over.

Repeat business and referrals proved to be extremely important for members, with repeat business accounting for a median of 19 percent of all activity in 2011 and 38 percent for those with 16 years of experience of more, while referrals added another 20 percent to business activity.

Most members, 57 percent, are licensed sales agents and 27 percent are brokers.

As for obstacles, 30 percent of respondents said difficulty in obtaining a mortgage was the greatest barrier.

Nine out of 10 members are homeowners, and more than half, 53 percent, own at least one residential investment property and 29 percent own at least one commercial property.

Data on the members was gathered from the 2012 NAR Member Profile.