The National Association of REALTORS® has released reports on who members are and the business they are conducting dating back more than five decades. Each year the report is released in varying and unique circumstances. While the report provides timelines of how experiences and transactions have changed, it is also important to remember it is a snapshot of that period of time.

The last year, 2022, was a divided year in the real estate market. At the beginning of 2022, inventory levels dropped to the lowest recorded since 1999 as home buyers entered the market at a frenzied pace to lock in historically low-interest rates. By Autumn of 2022, mortgage interest rates topped seven percent, putting a damper on real estate sales activity. Home buyers who had searched for a home in Spring and were outbid, were suddenly pushed to the sidelines due to housing affordability concerns. Despite the rise in mortgage interest rates, home prices continued to rise, pricing out even more potential consumers. While there has been a slight increase in housing inventory, at affordable price points buyers have struggled to find a home. This years’ report reflects the experience of REALTORS® through a roller coaster of a year and into a more balanced market in 2023. 

Download the NAR 2023 Member Profile

Highlights

Based on a random sampling of membership of the National Association of REALTORS®, the annual Member Profile strives to answer the question: Who are REALTORS®?

Business Characteristics of REALTORS®

• 64% of REALTORS® were licensed sales agents
• 20% held broker licenses
• 18% held broker associate licenses
• The typical REALTOR® had 11 years of experience, up from eight last year.
• 76% of REALTORS® were very certain they will remain active as a real estate professional for the next two years.

Business Activity of REALTORS®

• At 32%, lack of inventory remains the most important factor limiting potential clients from making a purchase.
• The REALTOR® worked 30 hours per week in 2022, down slightly from last year.
• The typical REALTOR® earned 27% of their business from repeat clients and customers, and 24% through referrals from past clients and customers.
• The typical property manager managed 40 properties in 2022, slightly down from 41 properties in 2021.

Income and Expenses of REALTORS®

• In 2022, 42% of REALTORS® were compensated under a fixed commission split (under 100%), 19% with a graduated commission split (increases with productivity), and 15% with a capped commission split (rises to 100% after a predetermined threshold).
• REALTORS® with 16 years or more experience had a median gross income of $80,700—down from $85,000 in 2021—compared to REALTORS® with 2 years or less experience that had a median gross income of $9,600—an increase from $8,800 in 2021.
• The largest expense category for most REALTORS® was vehicle expenses, which was $1,710.

Office and Firm Affiliation of REALTORS®

• 55% of REALTORS® are affiliated with an independent company.
• 89% of members are independent contractors at their firms.
• The median tenure for REALTORS® with their current firm was 6 years, up from five last year.
• 26% of REALTORS® worked for a firm that was bought or merged in the past two years.

Technology and REALTORS®

• 95% of REALTORS® reported using a smartphone nearly every day.
• 66% of REALTORS® reported having a website for business use.
• For professional use, REALTORS® were typically most active on Facebook, LinkedIn, and Instagram
• REALTORS® most often communicate with clients via text messaging (94%), telephone (92%), and email (90%).

Demographic Characteristics of REALTORS®

• The typical REALTOR® was a 60-year-old white female who attended college and was a homeowner.
• 62% of all REALTORS® were female, down from 66% last year.
• The majority of REALTORS®—89%—own their primary residence and 43% own a secondary property.

Source: "Nearly One-Third of Realtors® Say Lack of Inventory Stopped Clients from Buying Homes in 2022 As Housing Supply Dropped to Lowest Level Since 1999"