Tuesday, December 21, 2010

Portland Realtor Data CY 2010: Average of 3 Closed Sales Per Member.

During Metro Council hearing PMAR rep indicated that there were 6,400 PMAR members. I went back and checked and through October there were 16,000 Portland metro closed sales according to the MLS. Throwing in a generous 2,500 additional closed sales in Nov and December would mean that a projected total of 18,500 closed sales in PMAR area for all of CY 2010. 

Divided by 6,400 PMAR members, that would be an average of less than 3 closed sales per PMAR member in CY 2010-OUCH! (Total is likely even less because 100% of closed sales are probably not sold by PMAR members). 

If Realtor commissions were 6% per closed sale and the average sales price was $285,000, 3 closed sales would produce $51,300 in total annual CY 2010 commissions per PMAR member. (That's less than 80% of Portland Metro MFI for a family of 4):

Originally created and posted on the Oregon Housing Blog.

2 comments:

  1. Keep in mind as well that 6% is what both realtors make on a sale, so 3% to each, which would drop your CY2010 income even worse.

    I wonder how many are members, but have stopped doing real estate as well...still incredible numbers.

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  2. Three percent to each office, then split per commission agreement. Even a generous split (75% to agent)would be BELOW the poverty line for a family of four.

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