Mortgages Blog

Finance Blogs » Mortgages Blog » Realtors get a boost in pay

Realtors get a boost in pay

By Judy Martel ·
Thursday, May 23, 2013
Posted: 12 pm ET

Rising home prices and an increase in the number of single-family home permits are signs of a recovering housing market. But there's another indicator that things are going in the right direction: Realtors have seen a boost in income.

Last year marked the second year in a row of higher income for Realtors after nine straight years of losses, according to a survey by the National Association of Realtors. Median gross income of Realtors was $43,500 in 2012, compared with $34,900 in 2011.

Downhill from 11 years ago

NAR President Gary Thomas said in a release that peak income was achieved in 2002. The bubble years, right before the housing crash, saw an influx of agents and Realtors competing for business, contributing to a drop-off in average income. Many Realtors also began diversifying into related areas of the housing business, which meant their income was not so dependent on home prices and sales.

Experience and hard work count: Median gross income of Realtors in the business for 16 years or more was $57,300 in 2012, and those who logged 60 hours a week or more averaged $85,700. Of the NAR members surveyed, 21 percent earned a six-figure income in 2012. The median number of sales transactions in 2012 was 12, up from 10 in 2011.

Keep up with your wealth and mortgages, and follow me on Twitter @JudyMartel.

Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
1 Comment