{"id":4499,"date":"2023-07-11T20:27:36","date_gmt":"2023-07-11T20:27:36","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2023\/07\/11\/agent-income-rose-in-2022-even-as-sales-stagnated\/"},"modified":"2025-03-13T02:52:07","modified_gmt":"2025-03-13T02:52:07","slug":"agent-income-rose-in-2022-even-as-sales-stagnated","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2023\/07\/11\/agent-income-rose-in-2022-even-as-sales-stagnated\/","title":{"rendered":"Agent income rose in 2022, even as sales stagnated"},"content":{"rendered":"\n

As existing home sales<\/a> dropped 17% year over year in 2022 to 5.03 million homes<\/a>, the median sales volume of National Association of Realtors\u2019<\/a><\/strong> members rose to $3.4 million, up from $2.6 million in 2021, according to NAR\u2019s 2023 Member Profile<\/a>, published Tuesday.<\/p>\n\n\n\n

The Member Profile is based off a 98-question survey sent to a random sample of 146,624 NAR members in March 2023. The trade organization said it received 6,902 responses.<\/p>\n\n\n\n

\n

As would be expected, median sales volume tended to rise with experience level, with respondents who had two or fewer years of experience reporting a sales volume of $1.7 million, and those with six to 15 years of experience reporting $3.9 million in sales volume. <\/p>\n\n\n\n

The one exception was agents with 16 or more years of experience reporting a median sales volume of $3.4 million.<\/p>\n\n\n\n

Despite the increase in sales volume, respondents still reported a median of 12 transactions in 2022, unchanged from a year prior. The largest share of respondents (23%) reported between six and 10 transaction sides, while the second largest share (22%) reported between 21 and 50 sides.<\/p>\n\n\n\n

With this rise in sales volume, NAR members reported an increase in their median gross income from $54,300 in 2021 to $56,400 in 2022. According to the report, agents with two or fewer years of experience reported their income rose from $8,800 in 2021 to $9,600 in 2022, while agents with 16 or more years of experience reported that their income fell from $85,000 a year ago to $80,700 in 2022. <\/p>\n\n\n\n

Survey respondents who reported the highest median income were managers who also sold properties ($106,400) and broker-owners who sold properties ($105,900).<\/p>\n\n\n\n

In the past, some brokerages used sign-on bonuses<\/a> to entice agents, but in 2022, 96% of respondents reported that they did not receive a sign-on bonus.<\/p>\n\n\n\n

As their income rose, NAR members also saw their expenses rise, which the study attributed at least partially to inflation. In 2021, survey respondents reported spending $6,250 a year on expenses, compared to $8,210 in 2022.<\/p>\n\n\n\n

Major expenses that were reported included the business use of a vehicle (median of $1,710), administrative expenses (median of $860), marketing of services (median of $820), professional development (median of $730), annual dues and fees (median of $690), technology (median of $660), professional services (median of $460), marketing of listings (median of $450), business travel (median of $280), maintaining a website (median of $90) and social media advertising (median of $40).<\/p>\n\n\n\n

Of all the agents surveyed, 42% reported they were compensated with a fixed commission split<\/a> under 100%, while 19% were on graduated commission splits that increased with production, 15% were on a capped commission split that rose to 100% after a pre-determined threshold, 14% were on a 100% commission split, and 2% were salaried. <\/p>\n\n\n\n

Other agents reported compensation plans that included a salary plus a share of the profits or a production bonus, a commission plus a share of company profits or just a share of the company profits.<\/p>\n\n\n\n

The more experienced an agent<\/a> was, the more likely they were to have a 100% commission. However, across almost all experience levels, the fixed commission split was the most common compensation structure, with agents who have two or fewer years of experience as the exception.<\/p>\n<\/div><\/div>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The 2023 NAR Member Profile reveals that agents saw an uptick in sales volume and income, even as the median number of sides stagnated.<\/p>\n","protected":false},"author":34740,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1760],"class_list":["post-4499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\nAgent income rose in 2022, even as sales stagnated<\/title>\n<meta name=\"description\" content=\"The 2023 NAR Member Profile reveals that agents saw an uptick in sales volume and income, even as the median number of sides stagnated.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/preprod.realtrends.com\/blog\/2023\/07\/11\/agent-income-rose-in-2022-even-as-sales-stagnated\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Agent income rose in 2022, even as sales stagnated\" \/>\n<meta property=\"og:description\" content=\"The 2023 NAR Member Profile reveals that agents saw an uptick in sales volume and income, even as the median number of sides stagnated.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/preprod.realtrends.com\/blog\/2023\/07\/11\/agent-income-rose-in-2022-even-as-sales-stagnated\/\" \/>\n<meta property=\"og:site_name\" content=\"RealTrends - 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