• Jun 02, 2017 Things you didn’t know about your Realtor
    Gary Sandler
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    Published 2 June 2017

    LAS CRUCES – Earlier this year, the National Association of Realtors surveyed approximately 165,000 of its 1.2 million members, asking them to answer questions about their business activities and other facets of their profession. Just over 12,500, or 7.7 percent, provided responses. Results from the surveys were used to form the “2017 National Association of Realtors Member Profile.” Here are some of the more interesting characteristics of our nation’s Realtors.

    According to the survey, the typical Realtor is a 53 year-old, college-educated woman who has been in the business for 10 years. She is a homeowner, works for an independent, non-franchised real estate firm and specializes in selling residential properties. Women account for 63 percent of all Realtor licensees.

    Just under one-in-five Realtors surveyed previously worked in business, financial services or management positions prior to obtaining their licenses, while around 16 percent worked in sales and retail. Almost ten percent worked in office or administrative positions before taking the plunge, with only four percent choosing real estate as their first career. (How many times have you heard a child say: “I want to be a Realtor when I grow up?)

    When it comes to education, just over 30 percent have earned a bachelor’s degree, or higher, while another 31 percent have some college education. Three-quarters of all Realtors said that real estate is their only occupation. Seven-in-ten agents are married, with the remainder either divorced or never married.

    Ninety-four percent are registered to vote, with ninety-one percent reporting that they voted in the last national election. The vast majority of Realtors, around 75 percent, specialize in residential real estate. The typical Realtor works 40 hours per week, with one in five reporting that they work a minimum of 60 hours per week.

    The survey indicated that the typical Realtor earned an annual median income of $42,500 in 2016, up from $39,200 in 2015. Realtors with 16 or more years of experience had a median gross income of $78,850 compared to those with two years or less experience, who had a median gross income of $8,930. The median is where half earned more and half earned less.

    Twenty-four percent of members reported gross incomes below $10,000, while an equal percentage reported earning in excess of $100,000. Approximately 14 percent of members are fluent in languages other than English, while around twelve percent of respondents were born outside of the United States. More than half of those who speak a second language speak Spanish.

    During 2016, the typical Realtor sold 12 properties with a combined value of $1.9 million, or $158,333 in value for each property sold. Those who had been in the business for at least 16 years closed an average of 15 transactions per year, while Realtors with less than two-years of experience averaged 4 closings per year. Approximately eight out of 10 Realtors own a home, and around 40 percent own at least one additional property. Just over 10 percent own at least one commercial property.

    Closer to home, the Las Cruces Association of Realtors recently reported that its membership consists of 463 licensed agents. Another 54 affiliates, such as appraisers and lenders, also hold memberships.

    NAR is the nations’ largest trade association, with members practicing in all areas of residential and commercial real estate. From property brokerage to property management, Realtors provide important services to their clients and customers.

    The survey also confirmed that when it comes to value, Realtor services are hard to beat. Think of it in this way: the ranks of Realtors would quickly shrink if brokers and agents could not produce better results than buyers and sellers could produce on their own. And because the vast majority of Realtors are only compensated through commissions paid after a transaction is completed, they are highly motivated to provide the highest possible level of service to consumers and clients.

    See you at closing.

    Gary Sandler is a full-time Realtor and president of Gary Sandler Inc., Realtors in Las Cruces. He can be reached at 575-642-2292 or Gary@GarySandler.com

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      Gary Sandler