If you’re starting to develop your recruiting strategy for the fall, here are some stats that will help you build a better plan:
1. Only 18% of agents are below the age of 40 (most are between 40 and 60 years old).
2. Median agent sales volume is $2.5M, and the median number of transactions is 10 per year.
3. Only 30% of agents have sales volume above $5M, and 60% of agents sold zero or one listing in 2023.
4. Only 20% of agents get repeat business from previous customers (the rest depend on new leads).
5. Only 14% of agents are paid via 100% commission plans (75% are on some kind of split commission plan).
6. Most agents report spending less than $10K on their businesses per year (median spend is $8,450).
7. Most agents spend less than $1K/year in each of the following categories: marketing, self-development, and technology.
8. Most agents make less than $60K/year in gross income and less than $35K/year in personal income (after taxes and expenses).
9. Over 40% of agents work in single office companies. The average agent has been in real estate for about five years.
10. About 23% of agents are on teams, and the median tenure of an agent on a team is three years.
This type of data helps inform you on who you should be pursuing, what you should be offering, and how to handle objections during negotiations.
The best recruiters and hiring managers are well-informed. They usually know the answers to questions before they’re asked.
Source: NAR 2024 Member Profile
