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.
In 2013, the housing market saw an early, strong spring, followed by a slower summer and fall. Similar to 2012, low inventory plagued many areas of the country, slowing home sales and raising home sale prices. Survey data from the Investment and Vacation Home Buyers Survey show that investment buyers dipped some, but vacation home buyers rose. Data from the Profile of Home Buyers and Sellers survey showed that both primary residence 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 further illustrates.
Highlights from the 2014 NAR Member Profile:
- In 2013, the typical agent had 12 transactions—the same as in 2012, but higher than the 10 transactions typically had in 2011.
- Twenty-two percent of residential brokerage specialists had at least one commercial transaction side in the last
- Forty-six percent of residential brokerage specialists had a transaction involving a foreclosure and 42 percent had a transaction involving a short sale. Both types of transactions decreased from 2012.
- The typical agent had a sales volume of $1.8 million in 2013, up from $1.5 million in 2012.
- For the first time, the difficulty finding the right property has surpassed the difficulty in obtaining mortgage financing as the most cited reason for potential clients being limited.
- The typical property management specialist managed 30 properties in 2013.
- The median gross income of REALTORS® was $47,700 in 2013, up from $43,500 in 2012.
- The median gross income of REALTOR® households was $105,500 in 2013, which is an increase from $99,400 in
- 2013. This is a three year increase in household income among members.
- A substantial majority of REALTORS® — 86 percent — own their primary residence.
Play back or download a webinar from Jessica Lautz, Director of Member and Consumer Survey Research, covering highlights from both the 2014 Commercial Member Profile and the 2014 Member Profile.