The typical member of the National Association of Realtors (NAR) had a successful 2021, according to new data, with higher sales volume, more transactions and greater income than the pandemic-disrupted year that came before.
According to a new survey of members, NAR members typically completed 12 transactions in 2021, up from 10 in 2020, with a total sales volume of $2.6 million, up from $2.1 million.
The median gross income for Realtors was $54,300 in 2021, up from $43,330 a year before, but not surprisingly, that figure rose significantly as experience was factored in.
Realtors with 16 years or more experience had a median gross income of $85,000, an increase from $75,000 the previous year. (Total median business expenses for members were $6,250 in 2021, an increase from $5,330 in 2020.)
Sixty-six percent of Realtors were women, a modest increase from 65 percent last year. The median age of Realtors was 56, up from 54 from the previous year. Approximately two out of five members – 41 percent – were over 60 years old and 4 percent were under the age of 30.
How was the data compiled? In March, NAR e-mailed a 97-question survey to a random sample of 176,494 Realtors. A total of 9,220 responses were received, giving the survey an adjusted response rate of 5.2 percent and a 95-percent confidence rate.
The typical Realtor earned 16 percent of their business from previous clients and customers, a slight increase from 2020, the survey noted.
The most experienced members – those with 16 or more years of experience – reported a greater share of repeat business from clients or referrals (a median of 44% in 2021 vs. a median of 37% in 2020). Members with two years of experience or less reported no repeat business.
Overall, Realtors earned a median of 20 percent of their business from referrals, a slight increase from 19 percent in 2020.
Referrals were also more common among members with more experience, with a median of 31 percent for those with 16 or more years of experience compared to no referrals for those with two years of experience or less.
