The National Association of Realtors (sorry REALTORS® to follow guidelines) released their latest member profile report. Here are some stats included in it:
– the typical member is 52 years old, works 40 hours per week and specializes in residential brokerage; 60 percent are women.
– The median REALTOR income was $42,600 in 2007, down from $47,700 in 2006
– REALTORS in the business for two years or less earned a median of $10,500, while those with three to five years of experience earned $34,600. For six to 15 years, the median was $52,000, while members in the business for 16 years or more earned $69,500. (Note: $10,500 is below the poverty level)
– Overall membership edged down 1.5 percent from a record in 2006. Those in the business for two years or less dropped to 18 percent of overall membership from 23 percent in 2006.
– 93 percent must obtain health insurance on their own.
– Only 5 percent of members report real estate is their first career, and most bring expertise and experience from other fields. Prior careers include management, business or financial, 18 percent; sales or retail, 16 percent; office or administrative support, 10 percent; education, 6 percent; and homemaker, 5 percent. Eleven other categories were each 4 percent or less
– Women account for 52 percent of brokers, and 71 percent of full-time sales agents. Five percent of all REALTORS® are under 30 years of age while another 6 percent are 30 to 34 years old; 14 percent are 65 or over.
– Six out of 10 members have a personal Web site, which they have maintained for a median of four years, while 89 percent report their firm has a Web site; 73 percent have a home office. The typical member received four inquires over the past year from a personal Web site. (SloCountyHomes.com receives around 4 inquiries EVERY DAY!)
– Technology is increasingly important to REALTORS success. Ninety-two percent use e-mail daily or nearly every day, 88 percent use computers and 82 percent cell phones.