Wednesday, September 19, 2012

Ever notice how many agents claim to be in the "Top 1% of Realtors Nationwide?" A catchy tag line for sure, but what does it really mean?

The Wall Street Journal recently published a list of the 1000 top producing agents in the Country. John Burger in Manhattan grabs the top spot for having gross sales of $279 million last year.  There are currently 1.1 million members of NAR. John is at the top of the pile of money earners scewing the numbers way up On the other end are NAR members in the business for two years or less who earn a median $8,900 per year. If the lowest income for 1.1 million Realtors is way less than $8,900 a year, and the highest income is John Burger at 279 million, I guess its not hard to claim to be in the top 1% of Realtors nationwide, which would probably put you earning less that $100,000. Not as dazzling an achievement as the claim could lead you to believe.

The median income for real estate professionals in the NAR network last year was $34,100, a 4.5% decline from 2009. Realtor income dropped every year since 2002 when the peak salary hit $52,200. Realtor income is down 34.7% between then and 2010.The median income of Realtors dropped almost 35% over the last eight years, according to new data from the National Association of Realtors, as home sales across the nation struggle to gain footing.

When choosing a Realtor, they key question is not how much they make, but how much they make for you. I know some very successful listing agents in Fort Lauderdale who consistantly sell properties way under market value.  Who are they working for?  Choose an agent who works for you to get the best deal on a purchase, or the highest price on a sale. Realtors are paid handsomly for what we do, shouldn't you get your money's worth?

I prefer my tag line; "I Am Not Number One, You Are" 

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