As in any industry, the real estate industry has its fair share of stereotypes and myths, but a new report from the National Association of Realtors just debunked some of those myths.
Over the past year, NAR reported it saw a 6% jump in memberships, rising from 1.22 million in 2017 to 1.3 million in 2018, according to the organization’s 2018 Member Profile survey.
“While inventory shortages continue and home prices remain high, NAR has seen a whopping 6% increase in membership over the last year,” NAR Chief Economist Lawrence Yun. “Younger Americans are seeking business opportunities that working in real estate provides, but the overall trend is a slightly older age profile.”
The report shows that the number of new entrants to the real estate market is rising as 29% of its members reported having less than two years of experience in real estate, compared to 28% in 2017.
Within this growing industry, here are five myths that NAR’s recent survey debunks about Realtors.
1. Part-time: With its flexible hours and unconventional work times, it’s easy to assume that Realtors work their jobs only part-time, especially considering that the agents with two years or less in the industry currently make just $8,330 per year. However, this does not seem to be the case. According to NAR’s survey, most…