Income is up 4% for Pennsylvania Realtors® from 10 years ago, according to the most recent Keystone Analytics® survey of PAR members.
Forty-five percent of members reported making more than $50,000 a year, compared to 36% of members in the 2009 survey. Twenty-four percent reported making more than $100,000 annually.
“Our biennial study shows the trends in our membership,” said 2019 PAR President Bill McFalls. “A career in real estate can be rewarding and we’re seeing more people enter the industry.”
The profile of Pennsylvania Association of Realtors® members has changed somewhat over the past 10 years, as the number of PAR members has risen to 35,000 compared to 32,000 in 2009. The typical Pennsylvania Realtor® is a female over the age of 50, who works full time as a residential agent, according to the survey.
Sixty-one percent of the Realtors® responding were female, which is up from 57% 10 years ago. This compares to a NAR’s 2019 Member Profile which found that 67% Realtors® nationwide are female. Three percent of members identified as a member of the lesbian, gay, bisexual and/or transgender community.
“We’ve experienced a number of shifts in the real estate industry over the past 10 years and our membership reflects some of those changes,” McFalls said.
The survey showed that 73% of Pennsylvania members are over the age of 50, also up from 61% in 2009. Ten percent of members are under 40 years old, down from 15% in 2009.
Fewer members are working full time in the industry, with 79% reporting they work more than 30 hours per week, compared to 82% in 2009.
More members are focusing on residential real estate, with 93% saying they work primarily in residential sales, compared to 87% 10 years ago. Two percent report working in commercial sales, with 5% saying they do both equally.
Today, members have a longer history in the industry, with 59% having more than 16 years of experience, compared to 34% in the 2009 study. Those who had five or less years of experience dropped significantly to 17% in 2019, compared to 38% in 2009.
Nineteen percent of PAR members reported they work as part of a real estate team.