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Industry Update: More people are choosing to become real estate agents in 2018

Posted by Sean McGrail - CRO, OpenFrame on Aug 24, 2018 12:00:00 PM
Sean McGrail - CRO, OpenFrame
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According to the 2018 National Association of Realtors Member Profile, the income and sales volume of National Association of Realtors members dropped slightly over the last year, but membership increased as younger members continue to enter the industry.

There was a rise in new members from 1.22 million in March 2017 to 1.3 million in April 2018, and the profile found that 29 percent of members have less than two years of experience, an increase from 28 percent and suggesting prospective entrants into the real-estate profession are excited about the long-term prospects.

Members of the National Association of Realtors account for about half of all active real estate licensees in the U.S.

Realtors’ median age was 54 this year, slightly up from the last two years.

Sixty-three percent of Realtors are female.

Only five percent of Realtors reported real estate was their first career.

25 percent of members were minorities, up from 22 percent last year.

According to the survey, the main factors that limit potential clients in completing transactions are:

  • difficulty finding the right property (35 percent),
  • housing affordability (17 percent),
  • difficulty in obtaining mortgage financing (12 percent).

Eighty percent of respondents reported that they are certain they would remain in the real estate business, while those who were newest to the profession were least certain they would remain.