The real estate profession is gaining in popularity.
According to the 2018 National Association of Realtors® Member Profile, NAR saw a membership increase of 6 percent, rising to 1.3 million members, with 29 percent of members having two years or less of experience. For many, real estate is a second career choice, as only 5 percent of members said it was their first career. Previously, 16 percent of NAR members had a career in management, business or finance, while another 16 percent had a career in sales or retail. Real estate may also not be the only job, as 28 percent of Realtors® report they have more than one occupation.
The average age of a Realtor® bumped up slightly, rising from 53 last year to 54 this year. More Realtors®, 63 percent, are female. The average Realtor® has a decade of experience and a college degree. Sixty-five percent of Realtors® are licensed sales agents, while 21 percent have broker licenses and 15 percent have broker associate licenses. Nearly one-third of business for Realtors® comes from repeat clients or referrals. The average Realtor® had 11 transactions last year, down one from the previous year. Lack of inventory contributed to less transactions, according to most.
Fifty-three percent of Realtors® work with an independent company, and nearly 90 percent are independent contractors within their firm, staying for an average of four years.
More than half of Realtors® have had a website for at least five years, and 9 percent have their own real estate blog. Facebook is the most popular social media for business, followed by LinkedIn.
Eighty percent of Realtors® plan to remain active for at least the next two years.