1/2: Size of average independent real estate broker in US; how many houses they typically sell at average prices.
There are two categories of realtors in the U.S., real estate broker and the real estate agent. There is reasonable confusion when it comes to the difference between the two. The short answer is that real estate brokers can work as agents, whereas, real estate agents cannot work as brokers. Furthermore, real estate brokers work independently while real estate agents cannot work independently but must work for an employing broker. The median annual wages for real estate agents and real estate brokers were $44,090 and $56,790 in 2016. Brokers in the U.S. earn a median commission of five percent. The median brokerage sales volume was $1.9 million in 2016 from $1.8 million in 2015. There were 577,490 active real estate brokers and agents in the US in 2015, the latest data available.
THE SIZE OF REALTORS IN THE U. S
Statista puts the total housing units in the U.S. at 135.58 million as at 2016, the most recent data available.
According to the National Association of Realtors (NAR), ninety percent of members are independent brokers and there are over 2 million individuals (real estate broker or a real estate agent) registered in the US in 2016. Of those, 577,490 were active agents or brokers in 2015. Thirty-five percent of realtors are compensated under a fixed commission split whereas twenty-six percent under a graduated commission split. Sixty-five percent of realtors are licensed sales agents, twenty-two percent hold broker license while fifteen percent hold broker associate licenses. Also, according to NAR, approximately 4.5% of real estate licensees working at real estate firms are part-time employees.
The realtors market in the U.S. is dominated by female (sixty-three percent) while the rest are male (thirty-seven percent).
Ninety-one percent of realtors use social media to some extent in their business; ten percent have a real estate blog, sixty-nine percent are on Facebook whereas sixty-one percent are on LinkedIn. When it comes to placing their listings, most place them on realtor.com, Zillow, and Trulia.
The median business expenses for realtors were $6,000 in 2016; largest being vehicle expense at $1,380. Seventy-three percent of home buyers confirm that they would use the same realtor again when making a real estate investment.
THE SIZE OF INDEPENDENT REALTOR IN THE U. S
According to the 2012 census, the most recent available, there are 86,004 real estate brokerage firms in the US. IBISWorld states that there are over 1.1 million people employed in the real estate’s brokerage sector.
Currently, seventy-nine percent of firms have a single office with three full-time real estate licensees, eighty-four percent of the firms are independent non-franchised firms and thirteen-percent is independently franchised firms. Eight-one percent of the firms specialize in residential brokerage. Additionally, thirty-six percent of the firms are limited liability companies; twenty-six percent is sole proprietorship while thirty-six percent is others.
Firms with one office had a median brokerage sales volume of $4.3 million in 2016, while firms with 4, or more offices had sales volume of $235.0 million.
In 2016, the median brokerage sales volume was $1.9 million from $1.8 million in 2015. Also, eighty percent of Independent realtors are affiliated with firms; 5 percent is employed while 9 percent is others.
Regarding the use of technology in the industry, twenty-seven percent of agents and twenty-one percent of brokers spent between $501 and $2,000 in the last 12 months. The top three spending were on: iPad (sixteen-percent); Smartphone (fifteen percent); and digital camera (twelve percent).
The research above profiles the realtors market in the U.S., giving the units of houses sold, the brokerage prices and other related statistics. In short, there were 135.58 million real estate units in the U.S. in 2016 and the median brokerage sales volume was $1.9 million from $1.8 million in 2015. There were 577,490 active real estate brokers and agents in the US in 2015, of which, approximately 95.5% were full time agents or brokers.