Based on a random sampling of NAR’s membership, the Member Profile strives to answer the question: Who are REALTORS®? It looks at a variety of economic and demographic characteristics, and business practices. The Member Profile is released in the spring each year, just in time for NAR’s Midyear Meetings.
Read the news release about the 2013 Member Profile Survey report.
In 2012, many areas of the country started to see both home sales and prices rebounding. Unlike in past years, however, those markets still struggling saw not a shortage of buyers but a shortage of sellers. Inventory dropped from months of supply to just a few weeks in many markets. Survey data from the Investment and Vacation Home Buyers Survey show that investment buyers remained high, but many primary home buyers were also coming back into the market. Data from the Profile of Home Buyers and Sellers survey showed that both home buyers and home sellers wanted to and did work with a professional real estate agent or broker at higher rates than seen in past years. Clients continue to want the expert professional advice that members of the National Association of REALTORS® have provided in the past and continue to provide, as this year's report illustrates.
Highlights from the 2013 NAR Member Profile:
- In 2012, the typical agent had 12 residential transaction sides - up from the previous year when the typical agent had 10 transaction sides.
- Additionally, 24 percent of residential brokerage specialists had at least one commercial transaction side in the last year.
- The typical agent had one transaction side involving a foreclosure and one transaction side involving a short sale.
- The typical agent had a sales volume of $1.5 million in 2012, up from $1.3 million in 2011.
- For the third year in a row, the difficulty in obtaining mortgage financing was the most cited reason for potential clients being limited.
- The typical property management specialist managed 49 properties in 2012 - the highest number on record in this survey.
- The median gross income of REALTORS® was $43,500 in 2012, up from $34,900 in 2011.
- The median gross income of REALTOR® households was $99,400 in 2012, which is an increase from $94,100 in 2011. This is a two year increase in household income among members.
- 87 percent of REALTORS® own their primary residence. Additionally, 13 percent reported that they owned one or more vacation homes, 46 percent noted that they owned other residential properties for investment and 10 percent own at least one commercial property.
- While there are new members entering the profession, there is a decline in members leaving the profession, which has increased both the age (to 57 years from 56 years) and the median years of experience of members (to 13 years from 11 years)