The National Association of Realtors reported a strong boost in membership recently, with nearly three in 10 people entering the real estate business in the past two years. At the same time, Realtors reported a shrinking number of sales and decreasing proceeds due to a limited number of homes for sale.

The NAR says it accounts for about half of all licensed real estate agents in the United States. Members must commit to more stringent terms than state licensing requirements, including a code of ethics and continuing education.

The NAR boasted 1.3 million members in April, up from 1.22 million in March 2017. The share of new members with less than two years' experience grew slightly in this time, from 28 percent to 29 percent.

"While inventory shortages continue and home prices remain high, NAR has seen a whopping 6 percent increase in membership over the last year," said Lawrence Yun, chief economist at the organization. "Younger Americans are seeking business opportunities that working in real estate provides, but the overall trend is a slightly older age profile."

Personal traits

The median age among Realtors rose from 53 in the past two years to 54. Sixty-three percent of Realtors were women, and the NAR described the typical member as a 54-year-old white woman who attended college and owns a home.

However, Realtors were becoming more diverse as an increasing number of minorities join the profession. One in four members with two years of experience or less is non-white, up from 22 percent in the previous year.

Few members began their career in real estate, with just 5 percent reporting that it was their first career. Seventy-two percent said real estate was their only occupation, including 82 percent of Realtors with at least 16 years of experience.

Sixty-five percent of Realtors were licensed sales agents. Twenty-one percent had a broker license, while 15 percent had a broker associate license.

Working life

The average Realtor reported a decrease in both completed transactions and sales volume in 2017. The typical number of transactions fell from 12 in 2016 to 11 in 2017, while the median brokerage sales volume fell from $1.9 million to $1.8 million.

"A familiar story lingers from last year, as limited inventory continues to plague many housing markets across the country," said Yun. "For the fifth year in a row, the difficulty finding the right property has surpassed the difficulty in obtaining a mortgage as the most cited reason limiting potential homebuyers."

Thirty-five percent of Realtors said their transactions were limited because they were having difficulty finding a fitting home for a client among the available properties. Seventeen percent said the affordability of homes in their market was presenting a challenge, while 12 percent said their clients were having trouble getting approved for a mortgage.

The typical Realtor said that approximately 17 percent of their business came from referrals from past clients. They also estimated that 12 percent of their business came from repeat clients.

An increasing number of Realtors said they have boosted their presence on social media and the internet. Sixty-eight percent said they have their own website, while 71 percent were on Facebook and 59 percent were on LinkedIn.

Most Realtors did not expect that they will leave the profession, with 80 percent saying they were certain they would remain in the real estate business. Newer members were less likely to express this confidence, although only 5 percent of all Realtors said they are uncertain if they will remain in the profession.

The 2018 NAR Member Profile was based on 12,495 responses to a survey from the organization.