Accoridng to a report from the National Association of Realtors (NAR), titled “2018 National Association of Realtors® Member Profile.”, there was a rise in new members from 1.22 million in March 2017 to 1.30 million in April 2018. The profile found that 29 percent of members have less than two years of experience, an increase from 28 percent.
“While inventory shortages continue and home prices remain high, NAR has seen a whopping 6 percent increase in membership over the last year. Younger Americans are seeking business opportunities that working in real estate provides, but the overall trend is a slightly older age profile,” Lawrence Yun, NAR chief economist stated.
The survey’s results are representative of the nation’s 1.3 million Realtors®; members of NAR account for about half of all active real estate licensees in the U.S. Realtors® go beyond state licensing requirements by subscribing to NAR’s Code of Ethics and standards of practice and committing to continuing education.
Demographic Characteristics of Realtors®
Realtors®’ median age was 54 this year, slightly up from the last two years, at 53. Sixty-three percent of Realtors® are female, and the typical Realtor® is a 54-year-old white female who attended college and is a homeowner. The most common first careers reported are in management, business or finance, or in sales and retail, both at 16 percent. Only five percent of Realtors® reported real estate was their first career; 72 percent said that real estate was their only occupation, and that number jumps to 82 percent among members with 16 or more years of experience.
Sixty-five percent of Realtors® are licensed sales agents (same as last year), 21 percent hold broker licenses (down from 22 percent), and 15 percent hold broker associate licenses (same as last year). New members tended to be more diverse than more experienced members; 25 percent of members with two years of experience or less were minorities, up from 22 percent last year.