Despite tight housing inventories and tough competition, more and more people are jumping into real estate as registered realtors. According to the National Association of Realtors (NAR)’s 2018 member Profile, just about one in three realtors has two years’ worth of experience or fewer and the realtor population has grown 6% this year.
Although realtors tend to be middle-aged, with a median age of 54 (up from 53 in 2017 and 2016), NAR chief economist Lawrence Yun noted that the profile research indicates “Younger Americans are seeking business opportunities that working in real estate provides.” Interestingly, only about one in 20 realtors said that real estate was their first career. Most cited a former professional choice of management, business, finance, sales, or retail.
A Few Facts from the NAR 2018 Member Profile:
- 70% of NAR members specialize in residential brokerage
- NAR states, “The typical realtor has 10 years of experience”
- More than half of all realtors report having had a website for “at least five years”
- Fewer than one in 10 have a real estate blog
- 72% of realtors said real estate was their only occupation
- NAR membership accounts for roughly half of all active real estate licensees in the United States.
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