How Much Do Real Estate Agents Make? 2023 Report
It is no secret. The National Association of Realtors, NAR, puts out an annual report explaining how much Realtors earn each year, how much money they make. The big story for Realtor’s income is that is hasn’t increased much from 2013 to today, certainly decreased overall when compared with inflation over the same time period. While Realtor income bumped up in 2021, it is expected to fall once reporting comes out in 2022-2023 due to the cooling real estate market we find ourselves in now, a market that is currently defined by a huge decrease in home sale transactions for the entire industry.
The report is for Realtors, but not all real estate agents are Realtors (most are). To find out the difference between a real estate broker, real estate agent, and Realtor, read our guide here.
Also if you’re curious as to how many Realtors there are in the United States, Oregon, or Portland, and whether or not that number is increasing or decreasing, we’ve got that report too.
If you’re thinking of getting your Oregon Brokers (real estate agent) license, we have the definitive, step by step, 4,000 plus word guide, that also includes a summary breakdown of all the costs involved.
How Much to Real Estate Agents Make? 2023 Report
The answer is not much. The average real estate agent’s annual income is pretty low. However, you have to take into account the large number of hobbyist real estate agents who have their license but have another job or source of income. In fact, according to the NAR Member Profile Report, more than half of all Realtors have a different primary source of income for their household and it is not real estate. This is why it is important to look at the average income of Realtors who have been licensed for a number of years (which we will).
|Dollar Amount Made Annually||43,500||47,700||45,800||39,200||42,500||39,800||41,800||49,700||43,330||54,300|
Realtors Average Income Licensed More than 16 Years
These numbers are certainly better, but still are not that impressive for having more than sixteen years experience in an industry.
|Income with 16+ Years Experience||73,400||78,850||78,850||71,000||86,500||75,000||85,000|
Why is Realtor Income So Low?
There are a few primary reasons. First of all, there are simply too many Realtors, we are at a historic high. Second, real estate commissions been dropping slowly across the country. Third, the top 25% of the industry make 75% of the sales.
Realtor income is especially tiny the first few years a real estate agent is licensed. It is recommended to join a successful real estate team at the start of your real estate career to learn the ropes.
The Top 20% of Realtors Sell More than 80% of all Homes
It is a make it or break it industry. Nearly 50% of all real estate agents you might run into are involved in less than 10 transactions a year.
|Number of Sales in a Year 2022 Report||0||1-5||6-10||11-15||16 to 20||21 to 50||51+|
|Percentage of Realtors||5%||24%||19%||16%||9%||22%||5%|
Looking for a Realtor?
Led by Stephen FitzMaurice, our top 1% sellers agents and top 1% buyers agents have completed over 2,000 home sales in the greater Portland metro area since 2003. Our team of seasoned, full-time agents would look to connect with you today. Give us a call at 503-714-1111 to schedule a no obligation consult or chat with the bot on this site. We’d love to put our experience to work for you!December 23, 2022