The 2018 National Association of Realtors report indicated that the number of agents increased by 80,000 year-over-year. In 2017, there were 1.22 million agents and in 2018 there were 1.3 million agents.
The median age for an agent was 54, which was up from 53 for the last two years. The median age continued decline from 56 and 57 in 2011 and 2015. The difference could be attributed to the retiring members and to new and younger members entering the industry. In 2018, 33% of agents were over 60 years old and 5% were less than 30.
■ Agents with 16 years or more experience had a median gross income of $78,000, which is up from $73,000 in 2015.
■ The median gross income of an agent was $39,800 in 2017, which was less than 2016, which was reported to be $42,500.
■ According to the report the biggest challenge faced by agents is finding the right property, which has surpassed the ability to obtain mortgage financing.
■ The average annual number of transactions decreased from 12 transactions in 2016 to 11 transactions in 2017.
■ The median brokerage sales volume decreased to 1.8 million in 2017 from 1.9 million in 2016.
■ Only 51% of agents reported having a website for at least five years, and only 9% reported having a real estate blog. This contrasts with the number of agents who are on Facebook, which came in at 71%, and 59% were on LinkedIn.
■ 63% of all NAR agents were female.
■ 72% of agents reported that real estate was their sole occupation.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
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