BrokerageIndustry News

Realtor income continues to drop

Survey: Experienced agents fare better than newcomers
Published on May 19, 2008

Realtor income declined in 2007 compared to the previous year, and those with two years of experience or less had an annual median income near the poverty line, according to the latest membership profile released by the National Association of Realtors. Overall median Realtor income was $42,600 in 2007, down 10.7 percent from $47,700 in 2006, according to the member survey data. Realtors' median income had also fallen 3.2 percent in 2006 compared to 2004, and fell 5.6 percent in 2004 compared to 2002. A rush of newcomers joining the profession has contributed to this drop in median income, the association reported -- NAR membership grew 89.6 percent from 1998-2006, reaching a record 1.36 million in 2006 before falling 1.5 percent to 1.34 million last year. Membership was 1.24 million as of April 30, 2008. The membership profile report is based on a survey that generated 9,997 responses, with income and transaction data based on 2007 statistics and other survey findings repr...

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