Highlights 2011 Profile NAR Members & Profile Homebuyers/Sellers

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Highlights from the 2 Surveys done each Year by the National Association of Realtors

2011 Member Profile Highlights

"Each year NAR conducts a survey of a random sample of its membership, the resulting data is compiled into the Member Profile"
Realtor.org...Member Profile

2011 Profile of Homebuyers & Sellers

"NAR's annual Profile of Home Buyers and Sellers evaluates the demographics, preferences, and experiences of recent buyers and sellers."

Realtor.org.... Profile of Home Buyers and Sellers

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February 03 - US

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Thank you for posting this again! It is very helpful information.
I'm thinking that Dunes posted it before, but I misplaced it.

One part I found very interesting:
"The combination of high demand leveling off and lower prices
directly affects Realtor® income since most real estate
agents and brokers are compensated on a commission basis.
The median gross income of Realtors® continued to decline
to $34,100 in 2010. Residential brokerage specialists reported
a median of eight transactions in 2010, which is up slightly
from 2008 and 2009; however, the typical sales volume edged
down to $11.1 million.

The median age of Realtors® has steadily increased in recent
years from 51 years of age in 2007 to 56 in 2011."

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February 03

I wonder if there is another link for the 2011 code of ethics arbitration manual?

The one Dunes provide on the post
What should I do if an agent is unethical?
no longer works since it now requires a user name and password.

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February 03

Just doing some random thinking about those Realtor numbers...
$34.1k gross annual at 1.5% Realtor commission comes to $2.27M sales volume. At an average of 8 transactions, that would come to an average sold price of $284.2k.

If typical broker sales volume was $11.1M, that would mean an average of 4.89 agents per broker.

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February 03

I just realized, that document was published prior to the National Association of Realtors substantially revising their estimated number of sold housing units down substantially, due to "re-basing", since they were using 10 year old bench-marks and extrapolation factors.

Still there are other interesting things in the document too, such as business expenses for agents:
Median annual business expense: $4270 (2010). (I'm assuming that is the median of what was shown on their 1040 schedule C's?)
Car expense: $1680 (2010)
Subtracting: $2590. (This would include NAR membership, state membership, Errors/Omission insurance, Telephone, home office, stationary supplies, contract forms, conferences, continuing education courses, seminars, name-badges, business cards, yard signs, possibly business license, professional state license renewal, publications, advertisements, local MLS membership, lock boxes, PDA devices, promotional/thank-you gifts, possibly broker fees/desk fees, bookkeeping...

I can't imagine why agents would complain that the membership fees for the local MLS are too high.

Now, if they have a 50/50 broker split, I could see this being "too high" depending on services the broker provides and sales volume of the agent.