SEATTLE NEWS ARCHIVES & FEATURES
Median income for commercial agents rises to $86,000
May 24, 2012, 7:52 AM | Updated: Mar 4, 2016, 5:55 am
Realtors specializing in commercial real estate reported an increase in transactions in 2011, as well as a rise in their median gross annual income, according to the 2012 National Association of Realtors Commercial Member Profile.
The study’s results represent agents who conduct all or part of their activity in commercial sales, leasing, brokerage and development for land, office and industrial space, multifamily and retail buildings, as well as property management.
The survey shows that despite a challenging market, commercial members completed a median of seven transactions in 2011, up from 2009 and 2010 when the typical agent had five transactions. In addition, the median gross annual income of commercial members has increased for the past two years. The survey showed that the median gross annual income for 2011 was $86,000, up almost $10,000 from the previous year.
According to the survey, the median sales transaction volume in 2011 including those members without transactions was $1,058,300. When those members who had no transactions were excluded, the median transaction volume was $2,010,500.
Brokers typically had higher sales transaction volumes than agents, and 22 percent of commercial members had no transactions with sales volume. The median dollar value of sales transactions was $414,300 and the median square footage was 9,600. In both instances, brokers typically had higher median dollar value of sales transactions, as well as sold larger spaces when compared to sales agents.
The median lease transaction volume when including those with no transactions was $93,100; when excluding those members with no transactions it was $402,100. Thirty-four percent of commercial members reported having no lease transactions. The median leasing dollar value was $144,800 and a leasing transaction was typically 4,100 square feet.
The typical commercial member has been involved in real estate for 24 years, and has been engaged in commercial real estate and been a member of NAR for 15 years.
The typical commercial member is married, has a college education, is 57 years old and is male. While a strong majority of commercial members are male (76 percent), more female practitioners are entering the field. This year, 24 percent of respondents identify themselves as female.
