OpinionIndustry News

A rebuttal to real estate antitrust accusations

Guest perspective: Closer look at real estate agent incomes

Attorney David Barry recently published a report that he sent to the U.S. Justice Department called, "Nine Pillars of the Citadel," which accuses the National Association of Realtors of various crimes and calls for the legislation of a national multiple listing service. Clareity Consulting has been considering responding to Barry's paper, and though we have not thought through every one of his points, there are several for which there are obvious answers. First, Barry builds a case that "Realty agents sell six homes per year and work about five productive hours per week; their pay is over $50,000 per year – the lowest productivity of any job in America." Doing the math, we are meant to conclude that Realtors earn an undeserved income of nearly $200 per hour. The strong real estate market and rising prices indeed have led to increased incomes for some agents, but, according to NAR's 2005 Member Profile, "the median income of sales associates actually declined about 8 percent to ...