Half of all members are brokers (47 percent) and a third are sales agents (30 percent). The median gross income for brokers in 2016 was $154,900 compared to sales agents at $81,300. The median annual gross income for all commercial members was $120,800 in 2016, an increase from $108,800 in 2015, but slightly below 2014 when it was $126,900—the highest recorded since 2006.
Eighty percent of all commercial members work more than 40 hours a week and 23 percent work more than 60 hours. Despite the income difference, brokers and sales agents work comparably the same amount of hours per week. More than half of brokers and sales agents work 40 to 59 hours a week (56 and 55 percent respectively) and one-quarter work more than 60 hours a week (25 and 23 percent respectively). For those members that worked 40 to 59 hours per week, the median annual gross income was $126,900; for those that worked 60 hours or more, the median annual gross income was $171,300.
Seventy-two percent of commercial members are compensated by percentage commission split (39 percent) and 100% commission (33 percent). However, 41 percent of brokers are compensated on a 100% commission basis and 54 percent of sales agents are compensated by a percentage commission split basis. Compensation by a percentage commission split basis decreases with experience and 100% commission basis increases with experience.
The median share of annual income that commercial members receive from all types of commercial activity is 75 percent. Sixty-three percent of commercial members derived 50 percent or more of their income from all commercial real estate in 2016. A quarter of women (26 percent) derive one to 25 percent of their income from commercial activities, compared to 16 percent of men. As years of experience increases, so does the median share—the median share for those with less than two years of experience is 14 percent compared to 80 percent for those with 26 or more years of experience.
The median share of annual income that commercial members derive from commercial sales is 71 percent, 61 percent for women and 75 percent for men. The median share of income from leasing activity is 23 percent and seven percent from property management.
Appraisers make up only five percent of NAR members. While this is a small subset of the commercial real estate industry, the median gross annual income for appraisers in 2016 was $115,400. The median share of annual income that appraisers receive from all types of commercial activity is 80 percent. Sixty percent of appraisers work between 40 and 59 hours per week. More than other license types, 41 percent of appraisers receive their income from a straight salary compensation basis. Appraisers derive a median of 13 percent of their income from commercial sales activity and the majority receive no income from leasing or property management.
Powered by WPeMatico