(NAR) -- After some tough years, the median income of REALTORS® is set to meaningfully rise for the first time in many years. If projections of a 10 percent gain in home sales and a 3 percent rise in home prices come true this year, then a typical REALTOR® can expect to take home a 13 percent higher income than compared to last year. This presumes that there is no net increase in REALTOR® membership this year, but REALTOR® membership is not likely to increase this year because the membership figures always lag the housing market conditions by 18 to 24 months. The tough market conditions of the past two years are still impacting membership figures today.
Back in the bubble years, some members did hit pay dirt and collected huge paychecks. But those obtaining real riches were few and far between. Typical REALTOR® income during the frenzied home selling and home price years did not lead to a commensurate rise in income because REALTOR® membership grew by 75 percent right up to the peak bubble years. The pie was much bigger for sure, but there were way too many with knives looking to cut their share.
Here is the table for what occurred and what could happen. The figures should be viewed as approximate figures because all statistical measurements have some errors and because NAR cannot collect any data related to commission rates (in order to comply with the Justice Department and avoid anti-trust issues).
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