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A Closer Look at the Characteristics of Florida Realtors Members
Realtor demographic characteristics, business activities, income and expenses, and office and firm affiliation provide a picture of our Florida members.
Each year, the National Association of Realtors does a survey of its membership. The latest facts and figures about Florida's members can be found in the report.
Here are some highlights from the latest report from 2019:
For more than 100 years, Florida Realtors, the state's largest trade association, has been working to meet the needs of the real estate community and Florida homeowners.
Business characteristics of Realtors
- Sixty-eight percent of Realtors were licensed sales agents, 20 percent held broker licenses, and 14 percent held broker associate licenses. In Florida, 81 percent of Realtors were licensed agents,10 percent held broker licenses, and 10 percent held broker associate licenses.
- The typical Realtors had eight years of experience, down from 10 last year. In Florida, the typical Realtor had six years of experience.
- Fourteen percent of members had at least one personal assistant. In Florida, 12 percent operate with at least one assistant.
- Fifty-one percent of Realtors reported having a website for at least five years, nine percent reported having a real estate blog, and 73 percent of members were on Facebook and 58 percent on LinkedIn for professional use. In Florida, 45 percent of Realtors reported having a website for at least five years, eight percent of members have a real estate blog, and 73 percent of members are on Facebook and 57 percent on LinkedIn for professional use.
- The most common information found on Realtor websites, among all Realtors, was the member’s own listings and home buying and selling information. The same is true in Florida.
- Eighty percent of Realtors were very certain they would remain active as a real estate professional for two more years. In Florida, 75 percent of members report they are certain they will remain active for two more years.
Business activity of Realtors
- In 2018, the typical agent had 11 transactions, the same as in the 2017 report. In Florida, agents had 10 transactions typically.
- The median sales volume for brokerage specialists increased to $1.9 million in 2018 from $1.8 million in 2017. In Florida, the typical sales volume was $1.5 million in 2018.
- For the sixth year in a row, difficulty finding the right property surpassed difficulty in obtaining mortgage financing as the most cited reason limiting potential clients. In Florida, this was also the most cited reason.
- The typical property manager managed 47 properties in 2018, up from 35 properties in 2017. In Florida, the typical property manager managed 35 properties.
- Most Realtors worked 35 hours per week in 2018, down from 40 hours last year. In Florida, Realtors typically worked 40 hours per week.
- The typical Realtor earned 13 percent of their business from repeat clients and customers and 17 percent through referrals from past clients and customers. In Florida, 11 percent of business came from repeat business and 16 percent through referrals from past clients.
- Realtors spent a median of $65 to maintain a website again in 2018. Realtors in Florida spent a median of $60 to maintain a website.
Income and expenses of Realtors
- In 2018, 36 percent of Realtors were compensated under a fixed commission split (under 100 percent), followed by 23 percent with a graduated commission split (increases with productivity). In Florida, 40 percent of respondents were compensated under a fixed commission split (under 100%).
- The median gross income of Realtors was $41,800 in 2018, an increase from $39,800 in 2017. The median gross income for Realtors in Florida was $32,780.
- Realtors with 16 years or more experience had a median gross income of $71,000—down from $78,800 in 2017— compared to Realtors with two years or less experience that had a median gross income of $9,300—a slight increase from $8,330. In Florida, members with 16 or more years of experience had a median gross income of $61,700 and those with less than two years had an income of $8,500.
- The median business expenses were $4,600 in 2018, similar to the past year, which was $4,580. In Florida, the typical business expenses were $4,170.
- The largest expense category for most Realtors was vehicle expenses, similar to last year, which was $1,370. In Florida, the largest single expense category was also vehicle expenses, which was $1,250.
Office and firm affiliation of Realtors
- Fifty-four percent of Realtors were affiliated with an independent company. This number was 59 percent of members in Florida.
- Nearly nine in ten 10 members were independent contractors at their firms. That number is 89 percent for Florida.
- The median tenure for Realtors with their current firm was four years again in 2019. The median tenure for Florida members was three years.
- Nine percent of Realtors worked for a firm that was bought or merged in the past two years. In Florida, this number was seven percent.
Demographic characteristics of Realtors
- The typical Realtors was a 54-year-old white female who attended college and was a homeowner. The typical Realtors in Florida was 55 years old and 67 percent are female.
- Sixty-seven percent of all Realtors were female, up from 63 percent last year.
- Sixteen percent of Realtors had a previous career in management, business, or finance, and 15 percent in sales or retail. Only four percent of Realtors reported real estate was their first career. In Florida, 21 percent had a previous career in management, business, or the financial sector, and 16 percent in sales or retail. Two percent in Florida also reported real estate was their first career.
- Seventy-two percent of Realtors said that real estate was their only occupation, and that number jumped to 82 percent among members with 16 or more years of experience. Seventy-two percent in Florida also reported real estate was their only occupation.
- The majority of Realtors—84 percent—own their primary residence. Eighty percent of Realtors own their primary residence in Florida.