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Income, Transactions Improve for Commercial Realtors

The ""National Association of Realtors"":http://www.realtor.org/ (NAR) reported members who practice commercial real estate saw median income rise to the highest level since 2008, reflecting progress in the commercial sector.

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In 2012, commercial Realtors reported a median annual income of $90,200 in 2012, up from $86,000 in 2011, according to NAR's 2012 Commercial Member Profile.

Among NAR members in commercial real estate, brokers and appraisers brought in the highest income last year, and sales agents reported the lowest. Most members--60 percent--were brokers, while 25 percent were sales agents.

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""The commercial market is showing signs of improvement, which is reflected in the positive trends in income, transactions and sales volume reported by our Realtor commercial members,"" said Gary Thomas, NAR's president. ""This is a hopeful sign for the future.""

Median sales volume for commercial members increased to $2,507,700, with a median of eight transactions last year, the NAR reported. The median value of sales transactions stood at $433,600, and the median square footage was 10,400.

Median lease transaction volume also increased, with commercial members seeing a median lease transaction volume of $476,400 in 2012, up by more than $70,000. The median dollar value of lease transactions came out to $169,100, and the median square footage was 4,200, according to the NAR.

""Realtors who practice commercial real estate build communities by facilitating investment and promoting the sale and lease of commercial space. There's no doubt that commercial market improvements will help spur economic recovery and growth for our nation,"" Thomas added.

About Author: Esther Cho

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