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REALTOR® Boom


August 20th, 2013
By Tracy Polgar, MORe Now Contributor

IDFPR Shows Number of New Broker Licensees on Increase

 
With the housing market recovery and incomes on the rise for REALTORS® the Illinois Department of Financial and Professional Regulation reports gains in the past six months in the number of individuals obtaining a real estate broker's license. According to online reports from IDFPR, the total number of Illinois licensed real estate brokers for the month of July stood at 39,139 with the total number of licensed real estate managing brokers at 16,391.
 
Source:  Illinois Department of Financial and Professional Regulation
        
The Mainstreet Organization of REALTORS® reports a total of 794 new members have joined the association through July 2013. MORe remains the fourth largest REALTOR® Association in the country with 14,230 REALTOR® members in July 2013. The National Association of REALTORS® membership in July stood at 1,018,510 REALTOR® members.
        
The 2013 National Association of REALTORS® Member Profile reports that the median gross income of a REALTOR® rose to $43,500 in 2012 from $34,900 in 2011, which is only the second gain the past 10 years. Members licensed as brokers typically earned $54,900 in 2012, while the median for sales agents was $34,000. Income predictably rises the longer a REALTOR® stays in business. Those in business for 16 years or more earned $57,300 in 2012, while REALTORS® with two years' experience or less had a median gross income of only $9,700. The typical REALTOR® had 13 years of experience and works 40 hours a week.
           
More REALTORS® are dedicated to staying in the industry as well. Four out of five REALTORS® say they are "very certain" they will remain real estate professionals, which is up four percent from only a year ago.
           
Managing Brokers can monitor monthly licensee totals online at the IDFPR Web site and also a monthly list of the names and cities of new licensees online.  
           
 

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