“Real estate agents are parasites.”
“These people are just trying to get your money.”
“Realtors get paid too much.”
These are just a few of the comments I’ve seen recently while scrolling social media, where, it’s safe to say, real estate professionals are not always popular. Many people, apparently, feel like agents are ripping them off. Indeed, that sentiment is so widespread that even President Biden last year called on agents to “lower their commissions.” Oof.
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It’s probably fair to say that, thanks to things like years of commission lawsuits and ongoing affordability issues, there’s more attention on the real estate industry now than there has been at any time in recent memory. People want homes, many struggle to buy them, and so the pressure on those in the housing business rises.
But here’s the thing: Real estate is a singular industry. It’s the rare profession in which anyone — regardless of their resume or education — can rise up. It’s a ladder, and the embodiment of the American dream. And that’s why we here at Inman are covering this business. We’re doing it because we love it, and because we believe in the brokers, the agents and the entrepreneurs who make it work.
Especially in these crazy times, we believe in you.
The embodiment of the American dream
It’s perhaps understandable at a time when many people first engage with real estate via reality TV that there is a misperception about agents and their lifestyle.
But it’s worth remembering that most agents are not flashy young multi-millionaires. Per the National Association of Realtors’ most recent numbers, the median gross income for Realtors in 2024 was $58,100. Median net income — accounting for taxes and expenses — in 2024 was just $36,600.
Moreover, nearly two-thirds of Realtors are women. The median age of Realtors in 2024 was 57. Nearly half of Realtors do not hold four-year degrees.
Stats like these highlight the fact that real estate is both more democratic than other professions with high earning potential, and more middle-class. In high tech, for example, women make up just 22.6 percent of the workforce, and the median income in 2024 was $105,990. In finance, the median income was $101,910 last year. Bachelor’s degrees are effectively required in these types of fields, and the most ambitious people often get advanced degrees from elite universities.
In other words, real estate is available as a career to a greater slice of the American public compared to other potentially elite fields. Real estate is a ladder to, and embodiment of, the American dream.
Inspiration in tough times
Working at Inman for the past seven years, I’ve had the unique privilege of interviewing hundreds of members of this industry. And I’m reminded, for example, of Kenny Klaus, who began his professional life as a driver for FedEx before moving into real estate and eventually leveraging his success into various other businesses.
Or there’s Dave Jones, who began his career in public education. He eventually joined his wife in real estate after, among other things, observing the deep connections her job created with the community.
Or take Tiffany McQuaid, who earlier this year was moved nearly to tears while describing how much she cared for the members of her team. And you know what? This hardened journalist was moved, too, just hearing McQuaid.
Are these the people making too much money? Ought they to lower their commissions? I think not — and the stories like this are nearly infinite. Every neighborhood in America has a Realtor fighting for their family, their community and their clients. In fact, NAR’s numbers show that more than two-thirds of Realtors actively volunteer in their communities. Tell me again who the parasites are?
The truth is that these times require quite a bit of fighting. Everyone in this industry knows that, thanks to years of higher mortgage rates, the market has been very slow. But what has surprised me over the past year is how frank even very successful Realtors have been about that pain. “Everyone is hurting right now, and anyone who says they aren’t is lying,” one wildly successful and famous broker recently said to me in a private conversation.
Times are tough, and the people holding on are doing so through sheer grit and determination. It’s incredible.
Here at Inman, we’re agnostic when it comes to individual stories. Though not everyone always believes it, we really have no dog in the portal war fight, or the rivalry between brokerages, and so on. We come from the newspaper tradition of journalism, which means we try our best to be fair and impartial. We’ll continue reporting on the ups and downs of big companies, multiple listing services and NAR.
But we are not agnostic when it comes to this industry as a whole. So let us be clear: We believe in the real estate professional. We are rooting for the agents and brokers of this industry to succeed. And there has never been a time when we were more inspired by the work we see you do, day in and day out.
Jim Dalrymple II is Inman’s Interim Editorial Director.
