Florida Realtors releases 2014 member profile
ORLANDO, Fla. – July 1, 2014 – Are you a 56-year-old woman working in residential sales? Did you make $56,000 last year and have $6,560 in business expenses? If so, you're exactly average.
Florida Realtors released its latest report on membership, the "2014 Member Profile – Florida Realtors® Report." The 2014 report, which looks at characteristics for 2013, found the following trends in Florida:
Business characteristics of Realtors in Florida
• 67 percent are licensed as sales agents; 77 percent specialize in residential brokerage.
• The typical Realtor has 11 years experience.
• 71 percent of Realtors in Florida have had a website for at least 5 years; 14 percent have a real estate blog; 57 percent use social media.
• The most commonly found information on websites, among commercial and residential Realtors, is the member's own listings.
• 84 percent say they are very certain they will remain in the business for at least two more years.
Business activity of Realtors in Florida
• Agents typically had 12 transactions in 2013.
• 23 percent of residential brokerage specialists had at least one commercial transaction side in the last year.
• 57 percent had a transaction involving a foreclosure; 55 percent had a transaction involving a short sale.
• Typical agent sales volume was $1.7 million in 2013.
• For the first time, the difficulty finding the right property surpassed the difficulty in obtaining mortgage financing as the most cited reason for potential client limitations.
• The typical property manager managed 75 properties. (Nationally, it's only 30.)
• Most Realtors work 40 hours per week.
• The typical Florida agent spends a median of $260 maintaining a website.
• A website brought in 4 inquiries and 3 percent of an agent's business.
Income and expenses in Florida
• The median gross income in Florida was $46,400. (Nationally, it's $47,700, an increased from $43,500 in 2012.)
• Members with 16 or more years of experience had a median gross income of $62,200.
• Median business expenses were $5,880.
• The largest single expense category was vehicle expenses, reported as $1,700 in 2013.
Office and firm affiliation in Florida
• 78 percent of members are affiliated with an independent company. (Only 57 percent are nationally.)
• Eight in 10 members are independent contractors.
• The median tenure a Realtor had with his or her current firm was four years.
• 7 percent worked for a firm that was bought or merged in the past two years.
Demographic characteristics of Realtors in Florida
• The typical Realtor is a 56-year-old white female who attended college and owns a home.
• 55 percent of Florida members are female.
• For 79 percent, real estate is their only occupation; for members with 16 or more years experience, it's 89 percent.
• In Florida, the median gross income of Realtor households was $92,100 in 2013. (It's $105,500 nationally.)
• A substantial majority of Realtors in Florida – 83 percent – own their primary residence.
The full 2014 Member Profile – Florida Realtors® Report is available online. From Florida Realtors' research page go to "Other Research Reports," and click the dropdown box under "Other Resources."
© 2014 Florida Realtors®