The 2017 Member Profile is out—let’s take a closer look at the demographics of the NAR membership this year. Sixty-three percent of members are female, that’s two thirds of all agents. As years of experience increase, so does the presence of men. With 16 years of experience or more, 40 percent are male. Appraisers are predominantly male, however, at 72 percent, whereas managers (without selling) are mainly female at 72 percent.
The median age of agents is 53 years again this year, but down from 57 in 2015. Agents that are under 30 years of age is four percent in 2017, double what it was in 2015 at two percent indicating younger members joining NAR. The share of members 65 years and older is 17 percent this year, a drop from 25 percent in 2015, possibly indicating some members entering retirement. In comparison with years of experience, the share of members 65 years and older that also have 16 years of experience is 39 percent. The share of members under 30 years old with less than two years of experience is 12 percent.
Thirty-one percent of all real estate agents have a bachelor’s degree, 31 percent have some college education, and 12 percent have an associate’s degree. Seventy-four percent of all REALTORS® said that real estate is their only occupation. Seventy percent of agents are married and 26 percent are divorced or single but never married.
The median household has only two members. Agents 49 years or younger have a median of three household members. The median gross household income for 2016 was $111,400, $126,100 for those that had 16 years of experience or more, and $81,700 for those with two years of experience or less. The typical agent worked 40 hours per week and 64 percent said they worked 40 hours or more per week.
Eighty-two percent own a home and 39 percent own a secondary property. Of those that own a second home, 23 percent reported owning one vacation home, 31 percent own one residential property, and 13 percent own one commercial property.
Fourteen percent are fluent in another language besides English, that number jumps to 23 percent that are 39 years or younger. Of those that speak a second language, 54 percent speak Spanish. Twelve percent were born outside of the United States. Nine percent of members are Hispanic or Latino, five percent Black or African American, five percent Asian or Pacific Islander, and one percent American Indian, Eskimo, or Aleut. Diversity increases as age and years of experience decrease.
Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.