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Wednesday, October 14th, 2009Question: What is 54 years old, white, female, went to college, has ten years experience, works about forty hours a week, and earned a little under $38,000 last year?
Answer: The typical Realtor®.
These and other data are to be gleaned from the 2009 Membership Profile of the National Association of Realtors® (NAR). (Income figures in the survey are based on 2008 numbers.) Slightly less than 100,000 of NAR’s 1.2 million members were surveyed. (There are about 2 million people actively engaged in the real estate business overall.) The response rate was 8.2%.
It is no surprise that survey results showed that median income was down. At $36,700, it declined about 14% from 2007. The median number of transactions dropped from eight transaction sides to seven. These figures pretty well tracked the drop in volume and prices in the real estate market throughout the country. (Source: Realty Times)
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