2003 NAR Member Profile

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NAR Membership1,200,000

The worlds largest Trade Organization

Typical REALTOR®

• 51 year old married female• Has higher education• Owns a home• Affiliated with independently owned non

franchised firm• Works 40 hours per week• Averages 13 sides per year• Gross income of $52,200

Demographic Characteristics of REALTORS®

• 55% are female

• 52% of Brokers are female– 1978 only 21% female

• Average age 51– 1978 average age 42

• 73% married

Income

• $52,200 income– 25% over $100,000

• Median household annual income of $100,400– 138% higher than the median household

income in the US

• 91% of REALTORS own a home– 68% of US owns home

• 90% have education beyond high school

• 15% fluent in second language

Business Characteristics

Years of Experience

• 13 years Median

• 24% have 16 – 25 years experience

• 15% have 26 – 39 years experience

• 19% have 6 – 10 years experience

Agents Income increases with years of experience

Hours Worked

• 1999 45 hours per week

• 2001 43 hours per week

• 2003 40 hours per week

Income by hours worked per week

• $ 32,300 for 20 hours

• $ 43,700 for 20 -39 hours

• $ 61,200 for 40 – 59 hours

• $105,300 for 60+ hours

• 73% percentage commission split

• 20% on 100%

• 2% Commission plus share of profits

• 2% Salary plus share of profits

13 Sides and 1.8 million is median sales volume

Average REALTOR spent $6,900 or 13% of income on technology,

professional development, administration and marketing.

$1,200 on promotion and marketing

The average realtor spent $700 on professional development and

$900 on technology

• 79% of REALTORS have no assistant

• 15% HAVE 1 assistant

• 4% have 2 assistants

Professional Designations

• 12% - Accredited Buyer Representative

• 1% - Certified Commercial Investment Member

• 2% - Certified Real Estate Brokerage Manager

• 10% - Certified Residential Specialist

• 3% - ePro Internet Certification

• 19% - Graduate REALTOR Institute

Office Affiliation

• 51% Independent Non franchised Company

• 31% Independent Franchised Company

• 14% Frachised subsidary of National or Regional Corporation

• 4% Non Frachised Subsidary of National or Regional Corporation

Median Gross income by number Sales agents in firm

• $56,600 1 – 5

• $47,700 6 – 25

• $52,000 26 – 50

• $55,700 51 – 100

• $53,000 101-500

• $50,400 501 – 999

• $50,600 1000+

91% of agents are independent Contractors

9% are Employees

The average agent has been with their current firm for 3 years

Benefits provided through firm

• 71% Errors and ommissions• 12% Health Insurance• 8% Pension - SEP – 401(K)• 7% Paid vacation• 7% Life Insurance• 6% Dental insurance• 5% Disability Insurance • 4% Vision Care

Technology

What technology Agents use

• 91% Cell Phone

• 80% E-Mail

• 50% Digital Camera

• 5% Wireless Internet

Frequency of communication by email with clients

• 6% Never

• 17% > 10%

• 19% 10 – 25%

• 22% 26 – 50%

• 36% More than 50%

Use of Software

• 89% MLS• 69% CMA• 51% Document Prep• 34% Contact Management• 32% Graphics – Presentaion• 16% Transaction Management• 15% Loan Analysis• 15% Customer Relationship Management• 8% Property Management

46% of agents have a web sitethat is not part of their firms web

site.87% of firms have a web site

In 2002 Business Generated by Web Site

• 34% None

• 36% 10% or less

• 15% 11 – 25%

• 6% 26 – 33%

• 3% 34 – 50%

• 2% 51 – 67%

Where REALTORS place their listings

• 84% REALTOR.com• 83% Firm Web Site• 69% Local REALTOR Association Site• 51% Fracnhiser’s Web Site• 50% Personal Web Site• 36% Local Newspaper • 36% Local Real Estae Magazine• 31% IDX Broker Reciprocity• 22% Yahoo! Real Estate• 10% MSN

The share of REALTORS posting listings on their personal Web site

doubled from 25% in 2001 to 50% in 2003

Prior Full Time Careers

• 19% Other

• 15% Sales

• 14% Other Professional

• 13% Management

• 9% Administration

• 6% Education

• 6% None

• 5% Homemaker