{"id":20931,"date":"2022-08-24T12:47:30","date_gmt":"2022-08-24T12:47:30","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=20931"},"modified":"2022-08-24T12:47:32","modified_gmt":"2022-08-24T12:47:32","slug":"realtors-expand-income-despite-low-inventory-fierce-competition-2","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/realtors-expand-income-despite-low-inventory-fierce-competition-2\/","title":{"rendered":"REALTORS\u00ae Expand Income Despite Low Inventory, Fierce Competition"},"content":{"rendered":"\n

REALTORS\u00ae Expand Income Despite Low Inventory, Fierce Competition<\/p>\n\n\n\n

Fierce competition in the industry didn\u2019t stop REALTORS\u00ae from increasing their transaction sides and income over the last year, according to the National Association of REALTORS\u00ae\u2019 newly released 2022 Member Profile<\/a>. The booming housing market has prompted more people to pursue a real estate career, as NAR\u2019s membership rose to an all-time high of 1.56 million in 2021, up from 1.49 million in 2020, the report shows. That marks significant growth from a decade ago when membership stood at just over 1 million. (View the breakdown of REALTOR\u00ae members by state association.<\/a>)<\/p>\n\n\n\n

That means real estate pros may have to compete more for customers. But it\u2019s not the competition that REALTORS\u00ae cite as the top challenge blocking them from closing more sales\u2014it\u2019s the national inventory shortage, the NAR survey shows. Still, the typical member had 12 transaction sides in 2021, up from 10 in 2020, though COVID-19 lockdowns in 2020 need to be taken into consideration. Also, the typical sales volume rose from $2.1 million in 2020 to $2.6 million in 2021, according to the survey.<\/p>\n\n\n\n

With more transactions under their belts, REALTORS\u00ae\u2019 median gross income has ticked up as well, rising from $43,300 in 2020 to $54,300 in 2021. Experience level tends to matter greatly when it comes to income level. Fifty-seven percent of members who have two years or less of experience earned less than $10,000 in 2021, the report shows. On the other hand, 45% of members with more than 16 years of experience earned more than $100,000.<\/p>\n\n\n\n

\"chart<\/figure>\n\n\n\n
\"chart<\/figure>\n\n\n\n

Here are some additional demographic trends among REALTORS\u00ae as well as business insights from NAR\u2019s 2022 Member Profile:<\/p>\n\n\n\n