While 2020 brought with it the largest number of home sales in nearly 15 years, that didn’t necessarily translate into higher salaries for most agents, according to the National Association of Realtors.
As reported on by Inman, last year’s average income for realtors nationally was down $6,000 from the year prior.
Realtors’ median gross income was down to $43,330 in 2020 from $49,700 the year prior. NAR noted that realtors with 16+ years experience earned a median gross income of $75,000, down from $86,500 in 2019. Just one out of four agents earned an income of $100,000 or more last year.
“Realtors continued to serve clients’ needs despite the challenges 2020 brought to the real estate market,” Jessica Lautz, NAR vice president of demographics and behavioral insights, said in a statement. “Economic lockdowns and historically low inventory coupled with surging homebuying demand only showed the resilience of our members and industry.”
Results for NAR’s 2021 Member Profile were generated through a 93-question survey sent to a random sample of 161,155 realtors, with an adjusted response rate of 6.6 percent.