Realtors’ income jumped nearly 20% in 2012 from the year prior to the highest level since 2006, according to the National Association of Realtors.
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Members licensed as brokers typically earned $54,900 last year while the median income of a sales agent was $34,000.
NAR vice president for research Paul Bishop noted that the 2012 increase in income is only the second gain in past 10 years.
“To put that in perspective, the median Realtorincome had fallen by 35% during the housing downturn, but with the help of sustained increases in both home sales and prices, it’s recovered to the highest level since 2006,” Bishop said.
There were 2 million active Realtors in 2012 and 80% focus on residential sales.
Realtors with 16 years of experience earned $57,300 and Realtors that worked 60 hours or more a week earned $85,700. Overall, 21% of Realtors earned a six-figure income.
“Repeat business and referrals are important to Realtors’ success,” according to NAR. Repeat business accounted for 21% of activity and referrals accounted for an additional 21% of all business.
For Realtors with 16 years of experience or more, repeat business accounted for 40% of their business.
