real estate florida keys

real estate florida keys:As home prices soared in recent years, so did the percentage-based commissions charged by agents. Residential real-estate commissions in the U.S. totaled $61 billion in 2004, up 42% from 2000, estimates Real Trends, an industry publication. That's bad news for people who buy or sell homes. But isn't this trend at least making Realtors happy? Alas, no. The number of real-estate agents has grown even faster than total commissions. Membership in the National Association of Realtors, the dominant trade group, totals about 1.25 million, up 63% since 2000. As a result, there's not even close to enough commission income to keep all those agents in Porsches. The median annual income of real-estate sales agents in 2004 was only $37,600, down from $39,300 in 2002, according to the Realtors. Even that figure overstates agents' well-being. Because most agents are independent contractors rather than employees of the firms where they work, they need to pay out of their own pockets for such things as health insurance, pension plans, driving customers to see homes, and even pumpkins. Of course, some agents do get rich. Those most successful at selling luxury housing can earn more than $1 million a year. Even in average neighborhoods, the best-known agents tend to get the bulk of the listings because homeowners want a proven performer real estate florida keys. In 2004, Realtors with 26 years of experience or more had median income of $92,600, up 37% from two years before. Broker Commissions Add To the Real-Estate Bubble

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