Realtors' income goes bust
By JUDY STARK
Published May 19, 2007
All those Realtors who spent the past few years raking in big bucks in the housing market? The ones who cashed in big-time on the run-up in home prices?
The median income of Realtors last year was $47, 700, down from $49, 300 in 2004, according to a newly released survey of members of the National Association of Realtors.
Members licensed as brokers earned a median of $73, 700 last year. Those licensed as sales agents earned a median $34, 600.
As for all those people who thought, a few years ago, "This is a booming market! Anybody could make money here!" . . . So they got their real estate licenses, and they made money, all right. Realtors with two years of experience or less earned a median of $15, 300. That hardly pays the cell phone bills and fills the tank with gas.
The typical Realtor is 51 years old, works 40 hours a week, and has been in the business for seven years. Just 4 percent say real estate is their first career. Most came from management, business or financial fields, sales or retail, office or administrative support.
Nearly six in 10 Realtors are female.
Eighty-seven percent are Caucasian, 6 percent Hispanic, 4 percent African-American, 3 percent Asian, 1 percent American Indian and 1 percent other. Respondents could choose more than one category.
Members in the business two years or less handled a median of $800, 000 in business. Those with at least six years' experience handled $2.6-million. Perseverance has its rewards.
[Last modified May 18, 2007, 16:37:35]
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