Realtor Income Dips
Median gross income for Realtors fell to $39,800 in 2017, the National Association of Realtors says.
(Mountain Lakes, NJ, September 6, 2018) — Reflecting tight inventories that are slowing sales volumes, the median gross income of Realtors fell to $39,800 in 2017, a decrease from $42,500 in 2016.
Realtors handled a median of 11 transactions in 2017, down from 12 deals in 2016, according to the National Association of Realtors’ annual Member Profile.
Realtors spent a median of $4,580 on business expenses in 2017, reducing the median net income to $35,220.
For Realtors licensed as agents, the median gross income fell to $29,440, down from $33,750 in 2016. Take out $3,690 in median expenses, and the typical agent netted just $25,480 in 2017. Assume the median agent worked 35 hours a week for 50 weeks, and that level of income equates to hourly compensation of just $14.56.
For Realtors licensed as brokers, the income picture was brighter. Gross income for brokers was $75,000 in 2017, up from $69,640 in 2016.
Alas, broker compensation has lagged inflation over the decades. Median gross income for licensed brokers was $73,400 in 2000, according to NAR’s survey from that year — or nearly $104,000 in 2017 dollars.
For broker-owners (as opposed to associate brokers and other Realtors with brokers’ licenses), the pay picture was better still, according to NAR’s survey. Median gross income for broker-owners was $155,000 in 2017, NAR says. And fully 40 percent of broker-owners reported gross income of more than $200,000.
More on income trends appears in the July issue of Real Estate Broker’s Insider. Click below to learn more about the Insider, the only news source exclusively for residential real estate brokers, owners, and managers.
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