The median gross income of Florida Realtors was $28,160. Nationally it was $39,200, down from $45,800 year-to-year. Realtors with 16 years or more experience had a median gross income of $69,000.
ORLANDO, FL. – July 13, 2016 – Florida Realtors has released its 2016 Member Profile compiled by the National Association of Realtors® (NAR)' research department.
The typical Realtor in Florida last year was a 52-year-old woman. Her median gross income was $28,160 in 2015, her median number of transactions was nine, and almost half of all members had a deal involving a foreclosure.
The complete study is available on Florida Realtors website in the research section. Click the dropdown box under "Other Resources."
- 79% percent of Florida's Realtors are licensed sales agents and 85 percent specialize in residential brokerage
- The typical Realtor has 10 years experience
- 16% of members have at least one personal assistant
- 50% of Realtors in the state have had a website for at least five years, 12% have a real estate blog and 71% use social media
- The most common information found on Realtors' websites in Florida and nationally is the member's own listings, plus home buying and selling information
- 85% of Florida's Realtors are certain they will remain in the business for two more years
Business activity of Florida's Realtors in 2015
- In 2015, the typical Florida agent had 9 transactions compared to 11 nationally
- 47% of the state's Realtors had a transaction involving a foreclosure, and 26% had a transaction involving a short sale
- The median sales volume for brokerage specialists was $700,000 in 2015 – less than the $1.8 million in 2015 for all U.S. agents
- The top reason deals fell through? Difficulty obtaining mortgage financing
- The typical property manager managed 50 properties in 2015 – more than the 40 average properties nationally
- Most Realtors worked 40 hours per week
- The typical Florida Realtor earned 11% of their business from repeat customers and 14% through referrals from past clients
- Members spent a median of $70 to maintain a website in 2015
- Members typically brought in one inquiry and 1% of their business from their website
Realtors' income and expenses
- In Florida, 71% of respondents were compensated through a percentage split-commission
- Median gross income in Florida: $28,160. Nationally it was $39,200, down from $45,800 year-to-year
- Realtors with 16 years or more experience had a median gross income of $69,000 ($73,400 nationally) compared to Realtors with 2 years or less experience that had a median gross income of $7,800 ($8,500 nationally)
- The typical business expense paid was $4,550
- The largest expense category for most Realtors was vehicle costs: $1,600 in 2015
Office and firm affiliation
- 62% of Florida's Realtors are affiliated with an independent company
- 84% of members are independent contractors with their firms
- The median tenure for Florida members was only one year; nationally, the number of years a Realtor was with his or her current brokerage dropped from five years in 2014 to three years in 2015
- Nine percent of Realtors worked for a firm that was bought or merged in the past two years
Florida Realtors' demographic characteristics
- The typical Florida Realtor is 52 years old; 61 percent are female
- 17% of Realtors had a previous career in management, business or the financial sector; 15% came from sales or retail. Only 3% said real estate was their first career
- 72% said that real estate was their only occupation, and that number jumps to 83 percent among members with 16 or more years of experience
- Median gross income of a Realtor's household in 2015: $83,300 ($98,300 nationally)
- 73% of Florida's Realtors own their primary residence
© 2016 Florida Realtors® All rights reserved. Reprinted with permission.