Realtors(R) Increasing Professionalism, Survey Shows

WASHINGTON, DC, May 14, 2008/PRNewswire-USNewswire/ -- Realtors(R) are raising their level of professionalism through training and experience to better serve consumers, and are demonstrating their versatility and breadth of expertise in a changing marketplace, according to 2008 National Association of Realtors(R) Member Profile.

(For a detailed copy of NAR's news release, please contact Walter Molony, 1 202 383 1177, wmolony@realtors.org. NAR web site, http://www.realtor.org/)

The survey results are representative of more than 1.2 million Realtors(R) - about 60 percent of the nearly 2 million active real estate licensees across the country.The number of members holding at least one professional designation increased by nearly 21,000 over the past year, reaching a total of more than 428,000 - more than one-third of NAR's entire membership.

The median expense for professional development for the typical member was $710 in 2007.NAR President Richard F. Gaylord, (top right photo) a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said the association membership isn't limited to residential brokerage.

"While three-fourths of NAR members specialize in residential real estate, almost all of them have secondary specialties," he said. "For example, Realtors(R) are in areas as diverse as relocation, commercial brokerage, property management, land development, appraisal, counseling and other real estate specialties like international and auction."

Overall membership edged down 1.5 percent from a record in 2006, and is still historically high. The survey shows the typical member is 52 years old, works 40 hours per week and specializes in residential brokerage; 60 percent are women.

The median Realtor(R) income was $42,600 in 2007, down from $47,700 in 2006. In recent years, the typical member's income had been diluted by a large growth in membership, and income trended down since peaking in 2002.

Members licensed as brokers earned a median of $65,200 in 2007, while sales agents earned $31,000.

Paul Bishop, NAR's managing director of real estate research, said the typical member is increasing his or her professionalism over time through a variety of tools provided by NAR that help them better serve consumers.

"Our members build their business through repeat customers and referrals, and the longer they're in the business the higher their income, education and experience, meaning they are better prepared to serve consumers and handle market changes," he said.

Realtors(R) in the business for two years or less earned a median of $10,500, while those with three to five years of experience earned $34,600. For six to 15 years, the median was $52,000, while members in the business for 16 years or more earned $69,500. The typical NAR member has been in the business for eight years, up from seven years in 2006.