Experience Wins out in Tough Market

While the median number of transactions completed by REALTORS® in 2007 dropped to eight from 10 the previous year, brokers and sales associates who brought a combination of experience and hard work to the table were rewarded, according to the NATIONAL ASSOCIATION OF REALTORS® Member Profile 2008.

While the median gross income for all REALTORS® was $42,600 in 2007, REALTORS® with 16 or more years of real estate experience had a median income of $69,500. In the same vein, REALTORS® who work 60 or more hours a week grossed $80,800. The median years of experience in 2007 was eight years. The median number of hours worked was 40.

Some other significant findings from the survey: 

- Tech remains hot: Usage increased for wireless handhelds (34 percent, up from 23 percent in 2006), GPS (19 percent, up from 13 percent), and instant messaging (18 percent, up from 14 percent).

- Blogging is big: 8 percent of REALTORS® have a blog, a 100 percent increase from 2006.

- Commercial management surged: Participation in that specialty grew from 11 percent to 16 percent; the biggest jump was in managing multifamily residential properties.

- Belts are a little tighter: REALTORS® cut their expenses by 7 percent last year, to a median of $6,580. The biggest cuts came in spending for personal promotion.

- Brokers are going it alone: 51 percent of REALTORS® work for independent brokerages (a 2 percent increase over 2006); 33 percent of REALTORS® work for independently owned franchises. 

—By Mariwyn Evans

Stamp Out Guesswork

Stop guessing about the cost of mailings. Pitney Bowes is extending a special offer to NAR members with its digital mailing system called the mailstation 2. It includes a built-in scale that weighs and calculates postage at the touch of a button.

Take advantage of the 90-day free trial and receive $50 in free postage coupons. If you decide to continue after your free trial, you can rent the meter for $18.99 a month for one year (plus postage and supplies.)

For more information, visit http://www.pbmailstation.com/nar%20 or call 800-376-3093 and refer to order 999991618.

Buy It

Purchase the 2008 Member Profile at REALTOR.org/store.

Discounts

Learn about all the ways your NAR membership can save you money. Visit REALTOR.org/realtorbenefits.

—By Wendy Cole