More Millennials Seeking Real Estate Careers

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.