highlights of the 2012 nar member profile
TRANSCRIPT
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Te Voice for Real Estate
NatioNal associatioN of RealtoRs
Mmb Pol
2012
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2012 Officers
President
Maurice Moe Veissi
President-Elect
Gary Thomas
First Vice President
Steve Brown
Treasurer
William J. Armstrong, III, GRI
Immediate Past President
Ron Phipps, ABR, CRS, GRI, GREEN, e-PRO, SFR
Vice President & Liaison to CommitteesD.J. Snapp
Vice President & Liaison to Government Affairs
Scott Louser
Director of REALTOR Party Activities
Tom F. Salomone
Chief Executive Officer
Dale Stinton, CAE, CPA, CMA, RCE
NAr reseArcH sTAff
Office of the Chief Economist
lwrn Yun, Ph.D.
Chief Economist and Senior Vice President
crn Vn Hn
Senior Research and Strategic Planning Coordinator
Survey and Market Research
Pu c. Bhp, Ph.D.
Vice President
sphn Dv
Staff Assistant
Kn fr
Manager, Regional Economics and Housing Finance
Dn H
Director of Housing Statistics
J luz
Manager, Member and Consumer Survey Research
Quantitative Research
Jd smh, Ph.D.
Managing Director, Quantitative Research
sh crrn
Research Economist
Mh HymnResearch Assistant
Grg Ru
Manager, Quantitative Research
Business Operations and Communications
thm Dy
Director of Research Marketing and Communications
Mrdh Dunn
Research Communications Representative
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Contents
inrdun ..................................................................................................................................4
Hghgh ...................................................................................................................................... 5
chpr 1: Bun chrr RealtoRs ...........................................................6
chpr 2: Bun avy RealtoRs.......................................................................21
chpr 3: inm nd expn RealtoRs .............................................................38
chpr 4: o nd frm an RealtoRs .....................................................52
chpr 5: Dmgrph chrr RealtoRs ................................................61
Mhdgy ..............................................................................................................................74
l exhb ............................................................................................................................75
Natonal Aoaton o reALTOrs
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Introduction
in 2011, h hung mrk nnud bz nd m
r h unry w mprvmn n . D rm
h invmn nd Vn Hm Buyr survy hw
h wh prmry rdn buyr dppd, h hr nvmn buyr nrng h mrk r 27 prn rm
17 prn. invmn buyr nrd h mrk v buyng
drd prpr nd n wrkng wh r
prn n hr purh.
Rnng wh rnghnng nmy, mmr
r mrk urnd h rnr. Dmnd bzd n
2011 nd xpd grw n 2012 r prpry yp.
in urn, vny r r dnd nd rn r pd
dvn. Wh rng huhd rmn nd gh uppy,
h prmn r py w pnd r 2012.
fr h r m n vr yr, h mdn gr nm
RealtoRs r rm h prvu yr. th yp nm
mng mmbr w $34,900 n 2011 mprd $34,100
n 2010. th r n mmbr nm r n nr n
bun vy, w. th yp brkrg p hd
10 rnn d n 2011 mprd gh rnn
d n 2010. th mdn vum r $1.3
mn n 2011 rm $1.1 mn n 2010.
th yp RealtoR n ndpndn nrr
d wh n ndpndn mpny rng
mrk. Mmbr ypy hv bn wh hr rm r xyr nd 72 prn mmbr d n rv rng bn
hr rm.
th mdn g RealtoRs h dy nrd n
rn yr rm 51 yr g n 2007 56 n 2012. th
mjry mmbr r wmn wh g dun.
RealtoRs rquny hv hd rr n hr d prr
r , h m mmn bng n mngmn, bun,
nd nn prn, wd by nd r. ony v
prn ndd h r hr r rr.
RealtoRs r mbrng nw hng nd mrkng
rg h buyr r ndng uu n hr hm rh
pr, nudng wb, bg, nd md. in
ddn mmbrhp n h NatioNal associatioN RealtoRs, r prn hv hr wy
dnguhng hmv, nudng mmbrhp
prn dgnn, nd rn. Mny
RealtoRs k dvng h h pprun
shr s nd frur rmn h m ppu
rn, nnung w yr rnd.
lkng rwrd, 76 prn RealtoRs r vry rn
hy w rmn n h bun w mr yr. th
hr hghr hn yr, ndng h grwng pmm
h n n dy mrk. Nwr mmbr n h bun
r rn hy w rmn n r , wh mrnd mmbr r mr rn.
2012 Mmb Pol
Jessica Lautz
T.J. Doyle
Meredith Dunn
May 2012
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Natonal Aoaton o reALTOrs
Business Characteristics of REALTORS
n fy-vn prn RealtoRs wr nd gn, nd gh n 10 mmbr pz n rdn
brkrg.n th yp RealtoR h 11 yr xprn.n eghn prn mmbr hv n prn
n.
n Nry w-hrd RealtoRs rprd hvng wbr v yr, n n 10 mmbr rprd hvng
r bg, nd mr hn h mmbr r ung
md.
n th m mmny und nrmn n wb, mngmmr nd rdn RealtoRs, h mmbr wn
ng.
n thr-qurr RealtoRs r rn hy w rmn nh bun r w mr yr.
Business Activity of REALTORS
n in 2011, h yp gn hd 10 rnnhghr hn hprvu yr whn h yp gn hd gh rnn.
n th yp gn hd n rnn d nvvng rur nd n rnn d nvvng hr .
n th yp gn hd vum $1.3 mn n 2011, uprm $1.1 mn n 2010.
n fr h hrd yr n rw, h duy n bnng mrggnnng w h m d rn r pn n bng
md n hr purh.
n M RealtoRs wrkd 40 hur pr wk n 2011, rndh h nnud r vr yr.
n th yp RealtoR rnd 19 prn hr bunrm p n nd umr nd 20 prn hrugh
rrr rm p n nd umr.
n RealtoRs pn mdn $200 mnn wb n2011.
n Mmbr ypy brugh n ur nqur nd hr prn hr bun rm hr wb
Income and Expenses of REALTORS
n Prng p-mmn h prvng mhdr RealtoR mpnn, wh rughy vn n 10
rpndn ndng h mhd mpnn, mr
p yr.
n th mdn gr nm RealtoRs w $34,900 n2011, up rm $34,100 n 2010.
Highlights
n RealtoRs wh 16 yr r mr xprn hd mdn gr nm $50,200 mprd
RealtoRs wh w yr r xprn h hd
mdn gr nm $8,700.n th mdn bun xpn r $4,520 n 2011
rm $4,270 n 2010.
n th rg ng xpn gry r m RealtoRsw vh xpn, whh nrd $1,770 n 2011
rm $1,680 n 2010.
Office and Firm Affiliation of REALTORS
n fy-nn prn RealtoRs r d wh nndpndn mpny.
n egh n 10 mmbr r ndpndn nrr whhr rm.
n th yp RealtoR wrk rm h mpy 23gn nd brkr.
n th mdn nur r RealtoRs wh hr urrnrm unhngd x yr.
n svny-w prn RealtoRs rprd rvngn bn hrugh hr rm.
n evn prn RealtoRs wrkd r rm h wbugh r mrgd n h p w yr.
Demographic Characteristics of REALTORS
n th yp RealtoR 56 yr d wh m whndd g nd hmwnr.
n sxy prn RealtoRs r m.n eghn prn mmbr hd prvu rr n
mngmn, bun r h nn r nd 15
prn hd prvu rr n r r. ony v
prn mmbr rprd r w hr r
rr.
n svny-x prn RealtoRs d h r w hr ny upn, nd h numbr jump
84 prn mng mmbr wh 16 r mr yr
xprn.
n th mdn gr nm RealtoR huhd w$94,100 n 2011, whh n nr rm $91,700 n
2010. th w yr nr n huhd nm
mng mmbr.
n a ubn mjry RealtoRs - 89 prn - wnhr prmry rdn.
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Methodolgy
in Jnury 2012, NaR md u urvy rndm
mp 58,823 RealtoRs. an dn qunnr
w drbud v -m h m mmbr
u Wb-bd nn vrn prrrd. th trdsurvy Dgn Mhd w ud urvy h mp, whh
nud mng h urvy, nd r-mng h urvy.
Mmbr rvd n -m ng hm knw hy
wud b rvng urvy, h urvy nk v -m, nd
w w-up rmndr. Ung h mhd, 6,245
rpn wr rvd, nudng 3,531 v hrd py m
urvy nd 2,714 v h Wb-bd urvy. ar unng
r undvrb qunnr, h urvy hd n djud
rpn r 10.8 prn.
survy rpn wr wghd b rprnv v NaR mmbrhp. inrmn bu mpnn,
rnng, vum nd numbr rnn
hrr ndr yr 2011, wh hr d r
rprnv mmbr hrr n ry 2012.
th NatioNal associatioN of RealtoRs mmd
qu ppruny n h r ndury. in rdn
wh h mmmn, r nd hn nrmn w
d nd nudd n h rpr.
Whr rvn, RealtoR nrmn n ubgrup bd
n h n hd by mmbr NaR: brkr, brkr-
r gn n. th rm brkr rr
RealtoRs hdng brkr r brkr n un
hrw nd. in m , nrmn prnd by
RealtoRs mn unn whn hr rm r hr r
py rgrd h yp n hd.
th prmry mur nr ndny ud hrughu
h rpr h mdn, h mdd pn n h drbun
rpn prur qun r, quvny, h pn
whh h h rpn r bv nd bw prur
vu. D my n b mprb prvu Mmbr Pr
pubn du hng n qunnr dgn.
2012 Mmb Pol
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List of Exhibits
CHAPTER 1: BUSINESS CHARACTERISTICS OF REALTORS
eXHiBit 1-1 RealtoRs BY tYPe of liceNse
eXHiBit 1-2 sPecialtY aND MaiN fUNctioN of RealtoRs
eXHiBit 1-3 PRiMaRY BUsiNess sPecialtY of BRoKeR/BRoKeR associate liceNsees, 1999-2012
eXHiBit 1-4 PRiMaRY BUsiNess sPecialtY of sales aGeNt liceNsees, 1999-2012
eXHiBit 1-5 secoNDaRY BUsiNess sPecialtY of RealtoRs
eXHiBit 1-6 Real estate eXPeRieNce of RealtoRs, BY MaiN fUNctioN
eXHiBit 1-7 iNcoMe fRoM PRiMaRY Real estate sPecialtY, BY YeaRs of eXPeRieNce
eXHiBit 1-8 iNcoMe fRoM PRiMaRY Real estate sPecialtY, BY NUMBeR of HoURs WoRKeD
eXHiBit 1-9 NUMBeR of PeRsoNal assistaNts
eXHiBit 1-10 NUMBeR of PeRsoNal assistaNts, BY YeaRs of Real estate eXPeRieNce
eXHiBit 1-11 tasKs PeRfoRMeD BY PeRsoNal assistaNtseXHiBit 1-12 cHaRacteRistics of PeRsoNal assistaNts
eXHiBit 1-13 fReQUeNcY of Use of coMMUNicatioNs aND tecHNoloGY PRoDUcts
eXHiBit 1-14 fReQUeNcY of Use of BUsiNess softWaRe
eXHiBit 1-15 PRefeRReD MetHoD of coMMUNicatioN WitH clieNts
eXHiBit 1-16 RealtoRs fiRM WeB PReseNce
eXHiBit 1-17 RealtoRs WitH WeBsites, BY liceNse aND fUNctioN
eXHiBit 1-18 RealtoRs WitH WeBsites, BY eXPeRieNce
eXHiBit 1-19 leNGtH of tiMe RealtoRs HaVe HaD a WeBsite foR BUsiNess Use
eXHiBit 1-20 iNfoRMatioN oN RealtoR WeBsites
eXHiBit 1-21 Real estate BloGs
eXHiBit 1-22 actiVe Use of social oR PRofessioNal NetWoRKiNG WeBsites
eXHiBit 1-23 affiliate MeMBeRsHiP of RealtoRs
eXHiBit 1-24 PRofessioNal DesiGNatioNs aND ceRtificatioNs of RealtoRs
eXHiBit 1-25 RelocatioN actiVitY of RealtoRs
eXHiBit 1-26 Will ReMaiN actiVe as a Real estate PRofessioNal DURiNG tHe NeXt tWo YeaRs
Natonal Aoaton o reALTOrs
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CHAPTER 2: BUSINESS ACTIVITY OF REALTORS
exhb 2-1 aPPRaisal: tYPes of PRoPeRties aPPRaiseD
exhb 2-2 aPPRaisal: NUMBeR of PRoPeRties aPPRaiseD, 2011
exhb 2-3 aPPRaisal: otHeR Real estate actiVities of aPPRaisal sPecialists
exhb 2-4 BRoKeRaGe: aGeNcY RelatioNsHiPs
exhb 2-5 BRoKeRaGe: listiNGs solD, 2011
exhb 2-6 BRoKeRaGe: NUMBeR of tRaNsactioN siDes oR coMMeRcial Deals, 2011
exhb 2-7 BRoKeRaGe: NUMBeR of tRaNsactioN siDes oR coMMeRcial Deals, BY eXPeRieNce, 2011
exhb 2-8 BRoKeRaGe: NUMBeR of tRaNsactioN siDes iNVolViNG PRoPeRties iN foReclosURe, 2011
exhb 2-9 BRoKeRaGe: NUMBeR of tRaNsactioN siDes iNVolViNG PRoPeRties iN foReclosURe,
BY eXPeRieNce, 2011
exhb 2-10 BRoKeRaGe: NUMBeR of tRaNsactioN siDes iNVolViNG sHoRt sales, 2011
exhb 2-11 BRoKeRaGe: NUMBeR of tRaNsactioN siDes iNVolViNG sHoRt sales, BY eXPeRieNce, 2011
exhb 2-12 BRoKeRaGe: sales VolUMe, 2011exhb 2-13 BRoKeRaGe: sales VolUMe, BY eXPeRieNce, 2011
exhb 2-14 tHe Most iMPoRtaNt factoR liMitiNG PoteNtial clieNts iN coMPletiNG a tRaNsactioN
exhb 2-15 tHe Most iMPoRtaNt factoR liMitiNG PoteNtial clieNts iN coMPletiNG a tRaNsactioN,
BY eXPeRieNce, 2011
exhb 2-16 BRoKeRaGe: WeBsites WHeRe RealtoRs Place tHeiR listiNGs
exhb 2-17 PRoPeRtY MaNaGeMeNt: tYPes of PRoPeRties MaNaGeD
exhb 2-18 PRoPeRtY MaNaGeMeNt: NUMBeR of PRoPeRties MaNaGeD
exhb 2-19 PRoPeRtY MaNaGeMeNt: MaNaGeMeNt fUNctioNs PeRfoRMeD
exhb 2-20 HoURs WoRKeD PeR WeeKexhb 2-21 RePeat BUsiNess fRoM Past coNsUMeRs aND clieNts, BY sPecialtY, 2011
exhb 2-22 RePeat BUsiNess fRoM Past coNsUMeRs aND clieNts, BY eXPeRieNce, 2011
exhb 2-23 BUsiNess tHRoUGH RefeRRals fRoM Past coNsUMeRs aND clieNts, BY sPecialtY, 2011
exhb 2-24 BUsiNess tHRoUGH RefeRRals fRoM Past coNsUMeRs aND clieNts, BY eXPeRieNce, 2011
exhb 2-25 BUsiNess oRiGiNateD fRoM aN oPeN HoUse, BY sPecialtY, 2011
exhb 2-26 BUsiNess oRiGiNateD fRoM aN oPeN HoUse, BY eXPeRieNce, 2011
exhb 2-27 cUstoMeRs aND clieNts WHose PRiMaRY laNGUaGe is Not eNGlisH, 2011
exhb 2-28 cUstoMeRs aND clieNts WHo WeRe foReiGN NatioNals, 2011
exhb 2-29 eXPeNDitURes to MaiNtaiN RealtoR WeBsite, 2011
exhb 2-30 cUstoMeR iNQUiRies GeNeRateD fRoM WeBsite, 2011
exhb 2-31 cUstoMeR iNQUiRies GeNeRateD fRoM WeBsite BY aMoUNt sPeNt to MaiNtaiN, 2011
exhb 2-32 BUsiNess GeNeRateD fRoM RealtoR WeBsite, 2011
exhb 2-33 BUsiNess GeNeRateD fRoM RealtoR WeBsite, BY aMoUNt sPeNt to MaiNtaiN, 2011
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Natonal Aoaton o reALTOrs
CHAPTER 3: INCOME AND EXPENSES OF REALTORS
exhb 3-1 coMPeNsatioN stRUctURes foR RealtoRs
exhb 3-2 coMPeNsatioN stRUctURes foR RealtoRs, BY eXPeRieNce
exhb 3-3 coMPeNsatioN stRUctURes foR RealtoRs, BY GRoss PeRsoNal iNcoMe
exhb 3-4 total Real estate BUsiNess eXPeNses, 2011
exhb 3-5 total Real estate eXPeNses, BY GRoss PeRsoNal iNcoMe, 2011
exhb 3-6 aDMiNistRatiVe eXPeNses, 2011
exhb 3-7 affiNitY/RefeRRal RelatioNsHiP eXPeNses, 2011
exhb 3-8 MaRKetiNG of seRVices eXPeNses, 2011
exhb 3-9 office lease/BUilDiNG eXPeNses, 2011
exhb 3-10 PRofessioNal DeVeloPMeNt eXPeNses, 2011
exhb 3-11 BUsiNess PRoMotioN eXPeNses, 2011
exhb 3-12 tecHNoloGY PRoDUcts aND seRVices eXPeNses, 2011
exhb 3-13 BUsiNess Use of VeHicle eXPeNses, 2011
exhb 3-14 aNNUal iNcoMe of RealtoRs, 2011
exhb 3-15 aNNUal iNcoMe of RealtoRs, BY MaiN fUNctioN, 2011
exhb 3-16 aNNUal iNcoMe of RealtoRs, BY eXPeRieNce, 2011
exhb 3-17 aNNUal iNcoMe of RealtoRs, BY HoURs WoRKeD, 2011
exhb 3-18 BUsiNess cHaRacteRistics aND actiVitY of RealtoRs, BY GRoss PeRsoNal iNcoMe
CHAPTER 4: OFFICE AND FIRM AFFILIATION OF REALTORS
exhb 4-1 fiRM affiliatioN, BY liceNse tYPe aND fUNctioN
exhb 4-2 fiRM affiliatioN, BY sPecialtYexhb 4-3 fiRM affiliatioN, BY fiRM siZe
exhb 4-4 RealtoR affiliatioN WitH fiRMs
exhb 4-5 siZe of fiRM, BY NUMBeR of coMMeRcial aND ResiDeNtial BRoKeRs aND aGeNts
exhb 4-6 NUMBeR of offices
exhb 4-7 siZe of offices, BY NUMBeR of coMMeRicial aND ResiDeNtial BRoKeRs aND aGeNts
exhb 4-8 teNURe of RealtoRs at tHeiR PReseNt fiRM
exhb 4-9 BRoKeR oWNeRsHiP iNteRest, 2012
exhb 4-10 BeNefits ReceiVeD tHRoUGH fiRM
exhb 4-11 BeNefits ReceiVeD tHRoUGH fiRM, BY fiRM tYPe
exhb 4-12 WoRKeD foR a fiRM tHat Was BoUGHt oR MeRGeD
exhb 4-13 RealtoRs cHaNGiNG fiRMs DUe to coNsoliDatioN
exhb 4-14 cHaNGe iN coMPeNsatioN ResUltiNG fRoM MeRGeR
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CHAPTER 5: DEMOGRAPHIC CHARACTERISTICS OF REALTORS
exhb 5-1 GeNDeR of RealtoRs, BY aGe
exhb 5-2 GeNDeR of RealtoRs, BY eXPeRieNce
exhb 5-3 GeNDeR of RealtoRs, BY fUNctioN
exhb 5-4 aGe of RealtoRs, 1999-2012
exhb 5-5 aGe of RealtoRs, BY fUNctioN
exhb 5-6 aGe of RealtoRs, BY Real estate eXPeRieNce
exhb 5-7 foRMal eDUcatioN of RealtoRs
exhb 5-8 PRioR fUll-tiMe caReeRs of RealtoRs
exhb 5-9 PRioR fUll-tiMe caReeR of RealtoRs, BY Real estate eXPeRieNce
exhb 5-10 Real estate is oNlY occUPatioN
exhb 5-11 MaRital statUs of RealtoRs
exhb 5-12 siZe of RealtoR HoUseHolDs
exhb 5-13 Racial aND etHNic DistRiBUtioN of RealtoRs, BY Real estate eXPeRieNce
exhb 5-14 Racial aND etHNic DistRiBUtioN of RealtoRs, BY aGe
exhb 5-15 GRoss HoUseHolD iNcoMe of RealtoRs, BY Real estate eXPeRieNce, 2011
exhb 5-16 Real estate is PRiMaRY soURce of iNcoMe foR HoUseHolD
exhb 5-17 HoMeoWNeRsHiP of RealtoRs, BY aGe
exhb 5-18 Real estate iNVestMeNts of RealtoRs
exhb 5-19 VotiNG PatteRN of RealtoRs
exhb 5-20 laNGUaGe flUeNcY of RealtoRs
exhb 5-21 coUNtRY of BiRtH of RealtoRs
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th NatioNal associatioN of RealtoRs, th V r R e,
amr rg rd n, rprnng 1.1 mn mmbr, nudng
NaR nu, nd un, nvvd n p h r
ndury. NaR mmbrhp nud brkr, pp, prpry mngr,
pprr, unr nd hr nggd n bh rdn nd mmr r
.
th rm RealtoR rgrd v mmbrhp mrk h
dn r prn wh mmbr h NatioNal
associatioN of RealtoRs nd ubrb r cd eh.
Wrkng r amr' prpry wnr, h Nn an prvd y
prn dvpmn, rrh nd xhng nrmn mng mmbrnd h pub nd gvrnmn r h purp prrvng h r nrpr
ym nd h rgh wn r prpry.
NATiONAL AssOciATiON Of reALTOrs
reseArcH diVisiON
th Mn h NatioNal associatioN of RealtoRs Rrh Dvn
nd dmn my, ur nd mprhnv r d nd
ndu nm ny n rdr nrm nd ngg mmbr, numr, nd
pymkr nd h md n prn nd b mnnr.
t nd u bu hr prdu rm NaR Rrh Dvn, v
www.RealtoR.rg/rrh.
NATiONAL AssOciATiON Of reALTOrs
Rrh Dvn
500 Nw Jry avnu, NW
Whngn, Dc 20001
202-383-7518
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500 New Jersey Avenue, NW Washington, DC 20001-2020800.874.6500 www.REALTOR.org