| The Great Recession Took Away Brokers' Income (From June's issue in the REALTOR magazine - May 24, 2010 |
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The last few years have been tough for real estate, but exactly how tough? Tough enough of lop off a quarter of licensees income, according to the 2010 National Association of REALTORS Member Profile, released in May at the REALTORS Midyear Legislative Meetings & Trade Expo in Washington D.C.
The report shows that in 2009, REALTORS including brokers and sales associates - earned a median gross income of $35,700, a drop of 2.8% from 2008. That's not too much more than the roughly 2.5% decline in the broader U.S. economy during that same time period.
But when the numbers are compared with those in 2006, the year before the recession is generally recognized to have taken hold, the decline is far more significant, a whopping 25% down from $47,700.
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