Who are these Boston Condo Realtors?
Boston Condos for Sale and Rent
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Who are these Boston Condo Realtors?
The Realtor associations and many real estate companies prefer to use pictures of people in their 20s and 30s in their advertising and recruiting materials.
When you see the pictures, you might assume that most Realtors are young and wear suits.
The pictures are lies. The median age of Realtors is 57 years old. That means that half of us are older than that, and half are younger. Only 12% of Realtors are under the age of 39. Yup, that is right, only 12% and the rest are over 40.
When older people are pictured, they are almost always male, yet 63% of Realtors are female, and that is down from 65% last year.
There isn’t age discrimination on the job, but I get the impression that real estate companies and associations prefer younger members. In fact, for a time, they were making an extra effort to recruit younger members for leadership positions. Many of those leaders are now over 50.
It is fairly unusual for someone to become a real estate agent right out of college. Most have had careers before real estate. I used to be a business analyst, project manager, and consultant. Before that, I worked for Metro Transit in the IT department of the maintenance division. I got licensed to sell real estate in 2002 and became a licensed Minnesota real estate broker in 2007.
Most real estate salespeople work on a 100% commission basis, which is why new agents are more likely to be older rather than younger.
There are some advantages in being older. Experience matters. I just wish our Realtor associations would embrace the idea that it is not only OK to be old but that older people might just be better Realtors.
Who are these Boston Condo Realtors?
This just in from the National Association of Realtors®:
Sixty-two percent of all Realtors® were female in 2022, down from 66% in 2021. The median age of Realtors® was 60, up from 56 from the previous year. Just over half of members – 52% – were over 60 years old and 1% were under the age of 30.
Boston condos
Highlights:
- NAR membership grew to 1.58 million at the end of 2022, up from 1.56 million at the end of 2021.
- More than three-quarters of Realtors® (76%) are certain they will remain in the real estate industry for at least two more years.
- An indication of strong housing demand and rising home prices, the typical member’s sales volume increased to $3.4 million in 2022, up from $2.6 million in 2021. The typical member had 12 transactions in 2022, the same as in 2021.
Way back in 2009 NAR made a huge push to attract younger members. Their reasoning was that younger members were needed to serve younger home buyers and that the organization also needed to prepare younger members for leadership roles to take the place of retiring members.
Most real estate professionals do not start right out of high school or college. People become real estate agents later in life probably because most are independent contractors who do not get any benefits. The job of real estate agent makes the list of best jobs for people who are over 55.
Not all real estate agents are Realtors®. A Realtor is someone who belongs to the National Association of Realtors.
The organization is run by over 100 committees with thousands of members who are volunteer leaders. It is the largest lobbying organization in the country. NAR spent more than 84 Billion on lobbying in 2022. I can’t even imagine how many houses that would buy.
