NAR chief economist Lawrence YunCommercial real estate realtors that are members of National Association of Realtors reported both an increase in gross income and sales volume last year, according to the association's 2018 Commercial Member Profile. The annual study looks at the realtors who are members of NAR and who conduct all or part of their business in commercial sales, leasing, brokerage and development for land, office and industrial space, multifamily and retail buildings, as well as property management.
The top line finding of the report: 2017 was a good year for the community. “Commercial real estate professionals are reporting great growth in the past year, which has convinced more and more members to enter the commercial industry,” said NAR Chief Economist Lawrence Yun.
It found that the median gross annual income for commercial members hit an all-time high of $150,700 in 2017, up from $120,900 in 2016.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
