The real estate business in the US is currently valued at $113.60 trillion.

It’s a huge part of the US economy.

Interestingly, residential real estate is worth the most, with a market value of $88.91 trillion, reflecting the continuing investment in residential real estate.

It’s estimated that the market value will continue to grow and is likely to reach $142.90 trillion by 2028.

Understandably, there are many people involved in the real estate business, from developers to investors, realtors, and the end consumer.

It affects nearly everyone.

But, how many realtors are in the US?

The answer may surprise you.

Post Contents

1 Key Statistics
2 How Many Realtors Are In The US in 2024?
3 Summing Up
- 3.1 Sources

Key Statistics

There are 1,599,807 realtors in the US as of June 2023
64% of realtors are licensed sales agents
Realtors are typically 60 years old, female, and white
On average a realtor works 30 hours a week
93% of realtors communicate via text messages
74% of realtors use social media
There are more realtors in Florida than any other US state
The average real estate agent completes zero sales a year
As of 2021 65% of Americans own their own home
51% of buyers find a property online

How Many Realtors Are In The US in 2024?

1. There Are 1,599,807 Realtors In The US As Of June 2023

The NAR (National Association of Realtors) monitors all the realtors in the US and creates a monthly report highlighting several key facts, such as how many realtors are in the US.

As of June 2023, the report showed 1,599,807 realtors registered with the NAR and 1,075 local associations.

If you’re not a member of NAR then you can’t call yourself a realtor and you won’t be eligible for the associated benefits of membership.

This includes access to healthcare, reduced rates on insurance, and even the NAR network.

Interestingly, it’s no longer essential to be a member of NAR as there are an array of selling avenues open to anyone.

However, you can only use the term ‘realtor’ if you are a member of NAR.

Because real estate agents aren’t registered it is difficult to know exactly how many there are in the US.

The current estimates suggest there are between 1.5 and 3 million real estate agents.

As the above statistic shows, just over half of this number are realtors.

(NAR Membership Statistics)

2. 64% Of Realtors Are Licensed Sales Agents

To use the name realtor you need to register with the NAR.

However, not just anyone can register.

Before you can gain membership of NAR you need to become a member of a local real estate association. There are over 1,400 of them in the country.

It’s possible to join NAR as a broker, broker associate, or as a sales agent.

Interestingly, 64% of realtors are sales agents, 20 per cent have a broker’s license, allowing them to oversee other agents, and 18% are broker associates.

(NAR Membership Statistics)

3. Realtors Are Typically 60 Years Old, Female, And White

Real estate is often depicted as a young person’s game.

Younger people tend to have more energy and drive to find sales, secure the best deals, and make a significant amount of profit.

However, the typical realtor is a white female and the average age is 60, suggesting that the wisdom of age helps when buying and selling property.

The average realtor has been practicing real estate for 11 years and will have worked at the same firm for six years. Approximately 65% of realtors are women and just 45% are men.

Of course, these are not hard and fast rules but it is interesting to note this career path is often chosen later in life.

(NAR Membership Statistics)

4. On Average A Realtor Works 30 Hours A Week

According to NAR statistics, the average realtor works just 30 hours a week.

Of course, there are plenty that work much longer hours and those that work less.

Impressively, considering the average hours worked, the average realtor’s income is, as of 2022, $56,400.

That’s $2,100 more than in 2021.

In terms of sales, a realtor sales agent averages just 12 a year.

That’s effectively one a month with each sale generating an average of $4,700 of income.

What these figures don’t show is the amount of work a realtor needs to put in to obtain a sale each month.

There are many viewings which result in nothing and a host of details to prepare before a property is ready to be listed.

(NAR Membership Statistics)

5. 93% Of Realtors Communicate Via Text Messages

We live in a digital age which makes it surprising that 93% of realtors prefer to communicate with clients via text message.

Although a form of digital communication, it’s not the most advanced or even the fastest.

Typing a message can be time-consuming.

However, it is an effective way of passing on information and realtors do use other techniques.

For example, 90% of realtors will also contact clients via the telephone.

This is often to arrange appointments as trying to do this via message is usually frustrating.

Email is also a popular option and 89% of realtors will use this, allowing them to send additional details, attach files, and get deals done.

In short, the average realtor will use all forms of communication to get the sale completed as quickly and efficiently as possible.

(NAR Membership Statistics)

6. 74% Of Realtors Use Social Media

Social media is used by approximately 4 billion people on the planet.

That figure is likely to increase to 6 billion by 2027.

That’s three-quarters of the population.

It’s estimated that 300 million of the 330 million people living in the US use social media.

That makes it the obvious choice for communication and advertisement for most businesses.

Current statistics show that 74% of realtors are using social media to promote their services and properties they have for sale.

Alongside this, 81% of realtors will list properties on their own website.

Interestingly, just 66% of realtors will include a link to their firm’s website.

The most popular social media option is Facebook.

However, 56% of realtors use LinkedIn to build their networks and increase the potential for sales.

Social media appears to work as 20% of members state they get 5% of their business from social media.

A further 10% estimate they get 10% of their business via social media sites.

(NAR Membership Statistics)

7. There Are More Realtors In Florida Than Any Other US State

According to the latest NAR reports, Florida has 218,906 realtors.

That’s significantly more than California which is listed as the state with the second-highest number of realtors.

That’s currently 202,970.

Texas is the only other state with over 100,000 realtors.

They currently have 148,424.

New York takes the fourth spot with just 62,971 realtors.

Most other states have less than 50,000 realtors with the Virgin Islands having just 372 realtors, Guam has 593, and Vermont has just 1,822.

In short, the majority of realtors are based in a few key states.

Florida and California together account for nearly a third of all realtors!

(NAR Membership Statistics)

8. The Average Real Estate Agent Completes Zero Sales A Year

Choosing to be a real estate agent means you would like to sell houses and earn a commission from those sales.

No sales means no money and most people can’t afford to live without money coming in.

That’s why it’s surprising that the average real estate agent makes zero sales per year.

The truth is more agents have zero sales than those that do gain sales.

It’s notoriously difficult for new agents to make money which is why there is a high rate of turnover for real estate agents.

When property is in high demand lots of people will try their hand as a real estate agent.

As soon as the market cools these people will seek alternate work, even if they remain licensed real estate agents.

The simple truth is that 80% of real estate transactions are completed by just 20% of real estate agents.

(hooquest)

9. As Of 2021 65% Of Americans Own Their Own Home

At the end of 2021, statistics showed that 65% of Americans owned their own home.

That’s quite an impressive figure.

Or is it?

In 2004, 70% of Americans owned their own home.

This rate dropped to 63% in 2016 and has climbed slightly since.

The truth is home ownership is increasingly difficult.

The variety of economic and financial challenges over the past two decades means fewer people can afford to buy their first home, at least until much later in life.

The average price of a newly built home in the US is $385,000.

The knock-on effect is that some people are choosing not to buy, reducing the demand for property.

This is making it a seller’s market and real estate agents are capitalizing on that by pushing prices up.

That means properties are being sold to existing owners, either upgrading or investing.

In the long term, this approach won’t be sustainable, potentially leading to another property price crash and a lot of real estate agents quitting the industry.

(Statista)

10. 51% Of Buyers Find A Property Online

This fact illustrates the importance for realtors to have their own website and to be active on social media.

In the past, people found property by browsing shop windows.

Today, they are more likely to sit at home and scan the internet.

Just 29% of buyers find a property by looking at a real estate agent window.

A further 10% will find out about a property through a friend or relative, and 4% will see an open house sign or even a private for sale sign in the yard.

Despite this, 86% of purchases are completed through a real estate agent or realtor.

Impressively, 89% of these people would recommend their sales agent to their friends.

(NAR Reports)

The Difference Between A Realtor And A Real Estate Agent

To be a realtor you must be registered with the National Association of Realtors.

They have patented the name and non-members who use it are breaking the law and can be prosecuted.

Being part of NAR means you adhere to strict professional standards, run an ethical operation, and have access to an array of benefits.

You don’t need to belong to NAR to sell houses, although you do need a license.

If you have a real estate license, usually issued by your local state, you have the right to sell property.

Being a member of NAR simply improves your profile and will help you attract the highest-paying clients.

It’s worth noting that to list properties and generate sales you’ll need to be part of the Multiple Listing Service (MLS).

In many cases, joining the local MLS requires you to become a realtor.

This is because the local association will own the MLS, meaning you have to be a member of NAR to qualify.

However, this isn’t the case everywhere, which is why there’s a difference between the number of realtors and real estate agents.

For example, in Texas, there are 279,831 licensed real estate agents.

Only 148,424 are NAR members.

Summing Up

The answer to how many realtors are in the US is surprising, especially as the number of agents who don’t make sales is increasing.

Perhaps that’s why so many real estate agents are choosing to become realtors.

The addition of these membership letters can help to prove to customers that you’re a genuine real estate agent and worth investing their time and money in.

It’s relatively easy to become a real estate agent and a little trickier to become a realtor.

However, that doesn’t change the fact it’s a tough job, which is why the number of NAR-registered realtors is constantly changing.