This week on The Real Word, Byron Lazine and Nicole White discussed the NAR 2023 Member Profile, with a special focus on what real estate agents actually make in 2023.
Using a table with average incomes based on education level, they found the rough equivalent for the average Realtor income, though it varies widely based on years of experience in the industry and, more importantly, what an agent is willing to do to build their real estate business.
Byron also referenced a 1000watt report showing that last year, one-third of agents switched or were about to make a switch to a different team or brokerage, many of them in pursuit of a bigger split.
Discussing their biggest takeaways from the NAR report, Byron and Nicole share what it takes to become a top performer—and top earner—in the real estate industry.
Because, while the potential for a six-figure income is there, it takes more than the average agent is willing to do.
Click on any of the timestamps below to watch:
00:33 NAR’s 2023 Member Profile
01:29 Listing agents are struggling for business / 90% of mortgages under 6%
02:05 76% of Realtors are confident they’ll be staying at least two more years
03:18 Realtors are struggling even though income is up.
04:42 Decline in income for agents with 16 years of experience
06:33 Forbes article: median salary by education level
11:04 Different ways to look at the income levels
16:04 Splits are the worst reason to switch teams/brokerages
17:53 Big takeaways from the NAR 2023 Member Profile
19:30 What it takes to be a top performer
20:34 The potential (for six figure income) is there, but it requires sacrifice
21:45 The Over Ask Podcast
22:31 Interested in podcasting? Sign up for tomorrow’s YouTube webinar at 3 pm ET!
Click here to watch the full episode.
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