Skip to main content

More Millennials Seeking Real Estate Careers

May 19, 2016
Millennials Walking/Credit: Nicola Ferrari

An increasing number of Millennials are seeking out real estate careers, according to new data released in the 2016 National Association of Realtors (NAR) Member Profile.

In this year’s report, the percent of NAR members over 60 years old dropped to 30 percent from the 41 percent level last year, while of the number of member younger than 30 years rose to five percent from two percent in 2015. Thirteen percent of NAR members who have two years or less experience are under 30 years of age.

There is also an increased level of diversity: 89 percent of real estate professionals with 16 or more years of experience are white, compared to only 78 percent of those with two years or less experience.  

The median gross income of Realtors® also fell last year, from $45,800 in 2014 to $39,200 in 2015; not surprising, given members’ income typically corresponds with experience. Those with 16 years or more of experience reported a median gross income of $73,400, up from $68,800 in 2014, while members with two years or less of experience had a median gross income of $8,500, a decrease from $9,100 last year.

About the author
Published
May 19, 2016
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024