![]() ![]() Commercial sides for commercial specialists only: 5.Residential sides for commercial specialists only: 4.Residential sides for residential specialists only: 10.Residential sides for residential specialist broker/broker associates only: 14.Residential sides for all REALTORS®: 12. ![]() Median number of transaction sides in 2022:.The median gross income of REALTORS®-income earned from real estate activities-was $56,400 in 2022, an increase from $54,300 in 2021.Most REALTORS® worked 30 hours per week in 2022.Median tenure at present firm (all REALTORS®): 6 years.Real-estate experience of all REALTORS® (median): 11 years.62% of all REALTORS® are female, and the median age of all REALTORS® is 60.The typical REALTOR® is a 60-year-old white female who attended college and is a homeowner.Sixty-four percent of REALTORS® were licensed sales agents, 20 percent held broker licenses, and 18 percent held broker associate licenses.Source: Monthly Membership Report and NAR Membership Statistics, 1908-present REALTOR® Demographics Number of local associations: 1,075 as of 2022 In 2019, 64.9% of families owned their primary residence, according to the Federal Reserve's Survey of Consumer Finances.The typical home size is 1,900 square feet. According to the 2021 Profile of Home Buyers and Sellers, the typical home seller has been in their home for 8 years.There are approximately 119.7 million occupied housing units in the United States, according to the 2018 American Community Survey.Energy Information Administration's Commercial Buildings Energy Consumption Survey (CBECS) show that there were 5.9 million commercial buildings in the United States in 2018, comprising 97.0 billion square feet of floor space. There are 106,548 real estate brokerage firms operating in the United States ( Real Estate and Rental and Leasing: Summary Statistics for the U.S., States, and Selected Geographies: 2017).The Association of Real Estate License Law Officials (ARELLO) estimates that there are over 3 million active real estate licensees in the United States.822,000 newly constructed homes were sold in 2020, according to the U.S. 5.64 million existing homes were sold in 2020, according to data from the National Association of REALTORS®.Find the information that you need, as well as its source, at a glance. It is highly recommended to research all available options before making a decision to find an arrangement that best meets your needs and budget.Looking for quick statistics for your sales meeting or a customer brochure? Need a quick fact to make your point? Member Support has compiled some of the most requested statistics for quick and easy access. Ultimately, selecting the right type of agent will depend on personal preferences as well as financial considerations. While this choice offers greater independence while negotiating terms of contracts, it necessitates additional time and resources than having just one broker involved who provides both services simultaneously. Hiring separate brokers is another potential route that some individuals choose when looking for assistance throughout the process. Additionally, if any disputes arise, it creates a more complicated situation as the same representative would need to mediate between both sides. This option has its advantages but also comes with certain drawbacks since it requires impartiality between buyer and seller, which could conflict with the self-interests of either party. In dual agency, one agent represents both parties in a transaction. ![]() Furthermore, sellers’ agents need to coordinate inspections, appraisals, title searches, surveys, etc., to facilitate a successful closing for their clients.įinally, part of what makes them invaluable is that they provide support and guidance every step of the way – from initial consultation until the completion of the sale transaction.Īn alternative to buyer’s and seller’s agents is dual agency. They must also be knowledgeable about local regulations and laws related to selling properties so they can guide both parties through compliant transactions. Additionally, they are responsible for marketing the property and handling any potential offers from interested buyers. This includes providing advice regarding the fair market value and pricing strategies, preparing contracts, and reviewing relevant documents. It’s the seller’s agent’s job to serve as legal representative for the seller during negotiations with buyers and their agents. They play a crucial role by taking on numerous responsibilities throughout this process. They work to ensure that all pieces of the deal move smoothly and without interruption. The seller’s agent is the lynchpin in a real estate transaction. ![]()
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