from Florida Realtors
For the first time in several years, the median gross income of Realtors rose from the previous year. The typical income among members was $34,900 in 2011 compared to $34,100 in 2010, while Realtors in Florida made only slightly less – $34,600.
Overall, the 2012 Florida Realtors’ 2012 Member Profile, compiled by the National Association of Realtors, suggests a turnaround in the industry.
While housing prices have declined in Florida, the state’s agents are slightly busier than their cohorts throughput the U.S. The typical Florida agents had 11 transactions, while the number was only 10 nationally.
Highlights specific to Florida include:
Demographics
• The typical state Realtor is 55 – younger by a year than the 56-year old typical national Realtor.
• 60 percent of Realtors are female. (U.S.: 61 percent).
• 77 percent say real estate is their only occupation, rising to 85 percent for members with more than 16 years experience. (U.S.: 76 percent and 84 percent, respectively).
• Median gross income for a Realtor’s entire household in Florida: $84,600 in 2011. (U.S.: $94,100, up 2.6 percent from 2010).
• 87 percent own their own home (89 percent nationally).
• 68 percent of Florida Realtors members were licensed as sales agents (U.S.: 57 percent) and 73 percent specialize in residential brokerage.
• The typical Realtor has 10 years experience (U.S.: 11 percent).
Business activity
• The typical Florida agent had three transactions that involved a short sale and three foreclosures; nationally, agents had only one short sale and one foreclosure transaction.
• 28 percent of members cite “difficulty in obtaining mortgage financing” as the top limitation to growing their number of clients.
• Most Realtors work 40 hours per week both in Florida and nationally.
• Realtors in Florida spend a median of $240 annually to maintain a website.
• Florida’s Realtors’ websites typically brought in five inquiries and 5 percent of their business (U.S.: four inquiries and 3 percent of business).
• 59 percent of Realtors have had a website for at least five years; a little more than 1 in 10 members have a real estate blog and 61 percent of members in Florida use social media.
• 80 percent of Florida members are “very certain” they will remain in the business for two more years.
Income and expenses
• 72 percent of Florida respondents said their compensation was in the form of a commission percentage split.
• The typical business expense paid was $4,030 (U.S.: $4,520).
• Biggest single expense: Vehicles at $1,830. (U.S.: $1,770 – about a 5 percent yearly increase).
Office and firm affiliation
• 64 percent of state Realtors are affiliated with an independent company. (U.S.: 59 percent).
• Typical size of a Florida firm: 22 agents and brokers (U.S.: 23).
• 66 percent of Realtors receive no benefits from their firm. (U.S.: 72 percent).