Commercial REALTORS® Report Income, Transaction Growth
May 24, 2013
REALTORS® who practice commercial real estate have reported an increase in annual gross income for the third year in a row, according to the National Association of REALTORS®' 2013 Commercial Member Profile. Median gross income for commercial members was $90,200 in 2012, an increase of $4,200 over 2011.
“The commercial market is showing signs of improvement,” said NAR President Gary Thomas. “This is a hopeful sign for the future. REALTORS® who practice commercial real estate build communities by facilitating investment and promoting the sale and lease of commercial space. There’s no doubt that commercial market improvements will help spur economic recovery and growth for our nation.”
Transactions and sales volume have also increased since last year. Commercial members completed an average of eight transactions in 2012, and their median sales volume was $2,507,700. The median dollar value of sales transactions was $433,600 and the median square footage was 10,400. Median lease transaction volume increased this year by more than $70,000 to $476,400. However, 21 percent of commercial members did not have a leasing transaction in 2012.
The study surveyed 1,796 REALTORS® 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 typical survey respondent has been in commercial real estate for 15 years, involved in real estate in some way for 25 years, and an NAR member for 17 years. While the average commercial member is a 59-year-old male, women are slowly coming into the business. One-third of those with two or fewer years’ experience in the commercial market are female.
Updated: November 30, 2021