Post on 26-Dec-2015
2003 NAR Member Profile
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$35
NAR Membership1,200,000
The worlds largest Trade Organization
Typical REALTOR®
• 51 year old married female• Has higher education• Owns a home• Affiliated with independently owned non
franchised firm• Works 40 hours per week• Averages 13 sides per year• Gross income of $52,200
Demographic Characteristics of REALTORS®
• 55% are female
• 52% of Brokers are female– 1978 only 21% female
• Average age 51– 1978 average age 42
• 73% married
Income
• $52,200 income– 25% over $100,000
• Median household annual income of $100,400– 138% higher than the median household
income in the US
• 91% of REALTORS own a home– 68% of US owns home
• 90% have education beyond high school
• 15% fluent in second language
Business Characteristics
Years of Experience
• 13 years Median
• 24% have 16 – 25 years experience
• 15% have 26 – 39 years experience
• 19% have 6 – 10 years experience
Agents Income increases with years of experience
Hours Worked
• 1999 45 hours per week
• 2001 43 hours per week
• 2003 40 hours per week
Income by hours worked per week
• $ 32,300 for 20 hours
• $ 43,700 for 20 -39 hours
• $ 61,200 for 40 – 59 hours
• $105,300 for 60+ hours
• 73% percentage commission split
• 20% on 100%
• 2% Commission plus share of profits
• 2% Salary plus share of profits
13 Sides and 1.8 million is median sales volume
Average REALTOR spent $6,900 or 13% of income on technology,
professional development, administration and marketing.
$1,200 on promotion and marketing
The average realtor spent $700 on professional development and
$900 on technology
• 79% of REALTORS have no assistant
• 15% HAVE 1 assistant
• 4% have 2 assistants
Professional Designations
• 12% - Accredited Buyer Representative
• 1% - Certified Commercial Investment Member
• 2% - Certified Real Estate Brokerage Manager
• 10% - Certified Residential Specialist
• 3% - ePro Internet Certification
• 19% - Graduate REALTOR Institute
Office Affiliation
• 51% Independent Non franchised Company
• 31% Independent Franchised Company
• 14% Frachised subsidary of National or Regional Corporation
• 4% Non Frachised Subsidary of National or Regional Corporation
Median Gross income by number Sales agents in firm
• $56,600 1 – 5
• $47,700 6 – 25
• $52,000 26 – 50
• $55,700 51 – 100
• $53,000 101-500
• $50,400 501 – 999
• $50,600 1000+
91% of agents are independent Contractors
9% are Employees
The average agent has been with their current firm for 3 years
Benefits provided through firm
• 71% Errors and ommissions• 12% Health Insurance• 8% Pension - SEP – 401(K)• 7% Paid vacation• 7% Life Insurance• 6% Dental insurance• 5% Disability Insurance • 4% Vision Care
Technology
What technology Agents use
• 91% Cell Phone
• 80% E-Mail
• 50% Digital Camera
• 5% Wireless Internet
Frequency of communication by email with clients
• 6% Never
• 17% > 10%
• 19% 10 – 25%
• 22% 26 – 50%
• 36% More than 50%
Use of Software
• 89% MLS• 69% CMA• 51% Document Prep• 34% Contact Management• 32% Graphics – Presentaion• 16% Transaction Management• 15% Loan Analysis• 15% Customer Relationship Management• 8% Property Management
46% of agents have a web sitethat is not part of their firms web
site.87% of firms have a web site
In 2002 Business Generated by Web Site
• 34% None
• 36% 10% or less
• 15% 11 – 25%
• 6% 26 – 33%
• 3% 34 – 50%
• 2% 51 – 67%
Where REALTORS place their listings
• 84% REALTOR.com• 83% Firm Web Site• 69% Local REALTOR Association Site• 51% Fracnhiser’s Web Site• 50% Personal Web Site• 36% Local Newspaper • 36% Local Real Estae Magazine• 31% IDX Broker Reciprocity• 22% Yahoo! Real Estate• 10% MSN
The share of REALTORS posting listings on their personal Web site
doubled from 25% in 2001 to 50% in 2003
Prior Full Time Careers
• 19% Other
• 15% Sales
• 14% Other Professional
• 13% Management
• 9% Administration
• 6% Education
• 6% None
• 5% Homemaker