Originally published Saturday, May 30, 2009 at 12:00 AM
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Less-experienced hands leaving real-estate business
Realtors' median gross income dropped 14 percent in 2008, to $36,700, forcing many less experienced agents and brokers to leave the business.
Realtors' median gross income dropped 14 percent in 2008, to $36,700, forcing many less experienced Realtors to leave the business, according to a survey by the National Association of Realtors.
NAR's 2009 Member Profile showed the median age of Realtors rising from 52 to 54 and average years of experience increasing from eight to 10.
The survey revealed the extent to which experience is tied to earnings: Those with two or fewer years in the business had a median gross income of $8,600 before taxes and expenses; those in the business at least 16 years had a median gross income of $53,900.
Sales agents had the lowest median net income ($18,700), followed by associate brokers ($27,000), broker-owners ($31,700), appraisers ($39,600), and managers and broker-owners not engaged in sales ($44,400).
Most of the Realtors surveyed — 60 percent — were licensed as sales agents, while 24 percent had broker's licenses, 16 percent were licensed as broker associates, and 3 percent as appraisers.
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