The National Association of Realtors says that according to their 2014 NAR Member Profile, the median realtor income of National Association of Realtor members is $47,700 up almost 10% higher than last year. Read on for more technology statistics of those surveyed and how this could affect growing realtor income in future years.
The US housing market is still in recovery however we are seeing another year of realtor income increases. How is this possible? OPP Connect quotes NAR Chief Economist, Lawrence Yun, saying “as the US housing market recovery continues to improve, growing 11.5% last year, so does the earnings of real estate professionals. Fueled mostly by rising home sales and prices, the median gross realtor income increased to US$47,700 in 2013 from US$43,500 in 2012, marking a 9.6 per cent rise and a sharp gain from US$34,900 in 2011.”
The Member Profile states that more than two-thirds of NAR members have a personal website, which has been established for a median of eight years and 91% of businesses have an online presence. Sixty-one percent of respondents use social or professional networking sites, up 5% on the previous year, and 12% have a blog. Most Realtors (94%) prefer communicating with customers by e-mail, followed by telephone (90%) and text messaging (80%).
I find these statistics very interesting considering the NAR 2014 Generational Trends Report we covered in last week’s Trending Tuesday’s post. If 94% of Realtors prefer email, 80% text messaging and 61% use social networking sites, these technology statistics clearly won’t be decreasing anytime in the future. And with evolving real estate sales technology tools leading the pack, technology friendly realtors will be set to capitalize on the next generation of buyers and commissions.