2013 Commercial Member Profile

7/30/2019 2013 Commercial Member Profile

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National Association of REALTORS

Commercial

Member Profile2013


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2013 Officers

President

Gary Thomas

President-Elect

Steve Brown, ABR, CIPS, CRS, GREEN

First Vice President

Chris Polychron, CRS, GRI

Treasurer

William J. Armstrong, III, GRI

Immediate Past President

Maurice Moe Veissi

Vice President

Bill Brown

Vice President

Leslie Rouda Smith, ABR, CRB, CRS, PMN, e-PRO

Chief Executive Officer

Dale Stinton, CAE, CPA, CMA, RCE

Senior Vice President

Janet Branton

NAR Commercial Leadership

2013 Commercial Liaison

Jim Helsel, CCIM, SIOR, CPM, CRE, CRB, GRI, AHWD

2013 Commercial Committee Chair

Linda St. Peter, CCIM, CIPS, GREEN

NAR Commercial Staff Vice President

Jan M. Hope, RCE

2013 NAR Commercial Member Profile


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NAR RESEARCH STAFF

Office of the Chief Economist

Lawrence Yun, Ph.D.

Chief Economist and Senior Vice President

Caroline Van Hollen

Senior Research and Strategic Planning Coordinator

Survey and Market Research

Paul C. Bishop, Ph.D.

Vice President

Stephanie Davis

Staff Assistant

Ken Fears

Manager, Regional Economics and Housing Finance

Danielle Hale

Director of Housing Statistics

Jessica Lautz

Manager, Member and Consumer Survey Research

Quantitative Research

Jed Smith, Ph.D.Managing Director, Quantitative Research

Scholastica Cororaton

Research Economist

Michael Hyman

Research Assistant

George RatiuManager, Quantitative Commercial Research

Hua Zhong

Data Analyst

Business Operations and Communications

Thomas Doyle

Director of Research Marketing and Communications

Meredith Dunn

Research Communications Representative


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Highlights

Commercial members of NAR have expertise in a wide variety of

transactions across many property types. The 2013 NATIONAL

ASSOCIATION OF REALTORS Commercial Member Profile describes

the business, demographic and information needs of these members.

BUSINESS CHARACTERISTICS OF NAR COMMERCIAL MEMBERS

Sixty percent of commercial members reported having a broker

license and 25 percent reported having a sales agent license.

Thirty-seven percent of respondents are members of any of several

commercial affiliated institutes, councils or societies.

Investment sales are the most cited primary specialty of commercial

members and is the top ranked secondary specialty area.

Commercial members typically have been in real estate 25 years, incommercial real estate 15 years, and members of NAR 17 years.

BUSINESS ACTIVITIES OF NAR COMMERCIAL MEMBERS

Commercial members completed a median of eight transactions in

2012.

The median sales transaction volume in 2012 for members who had

a transaction was $2,507,700.

The median gross leasing volume was $476,400.

BUSINESS REVENUE AND FIRM AFFILIATION

The median gross annual income of commercial members was

$90,200 in 2012. The median gross annual income of commercial

members has increased for the past three years.

Sixty-three percent of NAR commercial members derived 50

percent or more of their income from all commercial real estate in

2012.

Fifty-six percent of members work for a local commercial real estate

firm.

DEMOGRAPHIC CHARCTERISTICS OF NAR COMMERCIAL MEMBERS

The median age of commercial members is 59-years-old.

Seventy-eight percent of the practitioners are male.

Sixty-five percent of commercial members have a bachelor's degree

or higher.



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Chapter 1

Sixty percent of NARs commercial members are brokers, with

licensed sales agents the next largest segment of membership at

25 percent. Nineteen percent of commercial members have a

broker associate license while appraisal license holders accounted

for six percent.

There are five commercial organizations affiliated with the

NATIONAL ASSOCIATION OF REALTORS. They are the CCIM

Institute, the Institute of Real Estate Management (IREM), the

Society of Industrial and Office REALTORS (SIOR), the REALTORS

Land Institute (RLI) and the Counselors of Real Estate (CRE). Sixty-

three percent of commercial members reported not being

affiliated with any of the groups.

Investment sales were identified by the highest proportion of

members as their primary business specialty at 27 percent. The

areas of land sales and office leasing were the next most

frequently mentioned primary commercial real estate specialties.

Commercial members cite investment sales and retail leasing

most frequently as their secondary business specialty. Land sales

ranked third among all commercial members as their secondary

business specialty.

Commercial members of NAR have a wealth of experience, with

the typical practitioner having been in the commercial side of the

business for 15 years. The typical commercial member has been

involved in real estate in any capacity for 25 years. The median

length of membership in NAR among commercial members is 17

years.

There are several national and international associations that

cater to commercial real estate professionals. One-third of

members belong to the International Council of Shopping Centers

(ICSC). An additional 11 percent of commercial members belong

to The Appraisal Institute and 8 percent to The Urban Land

Institute (ULI).

Commercial members use a wide variety of information sources

when conducting their day-to-day business. Some sources are

more popular than others due to cost, accessibility, timeliness

and the quality of the data. Seventy-eight percent of membersuse LoopNet, a California-based online listing service.



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BUSINESS CHARACTERISTICS OF NAR'S COMMERCIAL MEMBERS

Exhibit 1-1 NAR'S COMMERCIAL MEMBERS BY TYPE OF LICENSE

Exhibit 1-2 NAR COMMERCIAL MEMBERS' LICENSE TYPE BY EXPERIENCE

Exhibit 1-3 NAR COMMERCIAL MEMBERS' LICENSE TYPE BY GENDER

Exhibit 1-4 NAR COMMERCIAL MEMBERS' LICENSE TYPE BY MEMBERSHIP IN NAR AFFILIATESExhibit 1-5 MEMBERSHIP IN NAR AFFILIATES

Exhibit 1-6 MEMBERSHIP IN NAR AFFILIATES, BY COMMERCIAL REAL ESTATE EXPERIENCE

Exhibit 1-7 PRIMARY BUSINESS SPECIALTY OF NAR'S COMMERCIAL MEMBERS

Exhibit 1-8 PRIMARY BUSINESS SPECIALTY OF NAR'S COMMERCIAL MEMBERS BY LICENSE TYPE

Exhibit 1-9 PRIMARY BUSINESS SPECIALTY OF NAR'S COMMERCIAL MEMBERS BY GENDER

Exhibit 1-10 SECONDARY BUSINESS SPECIALTY OF NAR'S COMMERCIAL MEMBERSExhibit 1-11 REAL ESTATE EXPERIENCE OF NAR'S COMMERCIAL MEMBERS BY LICENSE TYPE

Exhibit 1-12

NAR COMMERCIAL MEMBERS' YEARS OF EXPERIENCE AS COMMERCIAL AGENTS OR BROKERS BY

LICENSE TYPE

Exhibit 1-13

NAR COMMERCIAL MEMBERS' YEARS OF EXPERIENCE AS COMMERCIAL AGENTS OR BROKERS BY

MEMBERSHIP IN NAR AFFILIATES

Exhibit 1-14

REAL ESTATE AND COMMERCIAL REAL ESTATE EXPERIENCES OF NAR'S COMMERCIAL MEMBERS,

BY GENDER

Exhibit 1-15 LENGTH OF MEMBERSHIP IN NATIONAL ASSOCIATION OF REALTORS BY LICENSE TYPE

Exhibit 1-16

LENGTH OF MEMBERSHIP IN NATIONAL ASSOCIATION OF REALTORS BY MEMBERSHIP IN NAR

AFFILIATES

Exhibit 1-17 MEMBERSHIP IN OTHER NATIONAL/INTERNATIONAL ASSOCIATIONS

Exhibit 1-18 INFORMATION SOURCES NAR'S COMMERCIAL MEMBERS USE MOST



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Exhibit 1-1

NAR'S COMMERCIAL MEMBERS BY TYPE OF LICENSE

(Percentage Distribution)

Broker 60%

Broker Associate 19%

Sales Agent 25%

Appraisal 6% 60%

19%

25%

6%

0%

10%

20%

30%

40%

50%

60%

70%

Broker Broker Associate Sales Agent Appraisal

NAR'S COMMERCIAL MEMBERS BY TYPE OF LICENSE

(Percentage



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Exhibit 1-2

NAR COMMERCIAL MEMBERS' LICENSE TYPE BY EXPERIENCE


2 years

or less 3 to 5 years

6 to 15

years

16 to 25

years

26 years or

more

Broker 60% 15% 37% 49% 60% 70%

Broker Associate 19 * 13 18 19 21

Sales Agent 25 85 54 39 26 12

Appraisal 6 * * 2 5 11

* Less than one percent

All Commercial

Members

Real Estate Experience



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Exhibit 1-3

NAR COMMERCIAL MEMBERS' LICENSE TYPE BY GENDER


Male Female

Broker 60% 63% 53%

Broker Associate 19 19 20

Sales Agent 25 22 31

Appraisal 6 8 3

All Commercial

Members

Gender



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Exhibit 1-4

NAR COMMERCIAL MEMBERS' LICENSE TYPE BY MEMBERSHIP IN NAR AFFILIATES


All

Commercial

Members

Counselors of

Real Estate

(CRE)

Accredited

Land

Consultant

(RLI)

Certified

International

Property

(CIPS)

Society of

Industrial

and Office

REALTORS

(SIOR)

Institute of

Real Estate

Management

(IREM)

Certified

Commercial

Investment

Member (CCIM

Institute)

Not a

member of

any affiliate

Broker 60% 84% 66% 55% 69% 76% 68% 56%

Broker Associate 19 8 23 19 24 11 22 18

Sales Agent 25 20 16 34 19 14 18 28

Appraisal 6 20 9 6 2 6 5 7

Total Responding 1,796 25 57 86 67 62 394 931

Membership in NAR Affiliates (Designee or Candidate)



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Exhibit 1-5

MEMBERSHIP IN NAR AFFILIATES

(Percent of Respondents)

2013 2012 2011 2010 2009 2007

Broker/

Broker

Associate

Sales

Agent

Not a member of any affiliate 63% 60% 65% 61% 54% 57% 59% 71%

Certified Commercial Investment

Member (CCIM Institute)

27 29 25 27 34 31 30 19

Certified International Property (CIPS) 6 3 2 3 2 2 5 8

Institute of Real Estate Management

(IREM)

5 7 7 6 8 7 5 2

Society of Industrial and Office

REALTORS (SIOR)

4 5 4 6 6 6 5 2

Accredited Land Consultant (ALC) 4 3 2 3 3 3 4 3

Counselors of Real Estate (CRE) 2 2 2 2 3 3 2 1

Licensed As



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Exhibit 1-6

MEMBERSHIP IN NAR AFFILIATES, BY COMMERCIAL REAL ESTATE EXPERIENCE


Commercial

Members

2 years

or less

3 to 5

years

6 to 15

years

16 to 25

years

26 years

or more

Not a member of any affiliate 63% 91% 63% 68% 65% 57%

Certified Commercial Investment

Member (CCIM Institute)

27 * 25 25 26 28

Certified International Property (CIPS) 6 * 12 6 4 5

Institute of Real Estate Management

(IREM)

5 * 2 3 3 6

REALTORS (SIOR) 4 * * 1 4 7

Accredited Land Consultant (ALC) 4 9 2 3 3 5

Counselors of Real Estate (CRE) 2 * * 1 2 2


Experience as a Commercial Real EstateAgent or Broker



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Exhibit 1-7

PRIMARY BUSINESS SPECIALTY OF NAR'S COMMERCIAL MEMBERS


Investment Sales 27%

Land Sales 26

Office Leasing 25

Retail Building Sales 21

Retail Leasing 21

Office Building Sales 20

Multi-family Building Sales 18Industrial Building Sales 17Industrial Leasing 15Commercial Property Management 12Consulting 10Development 8Multi-family Property Management 6Commercial Appraisal 5

Hospitality/Resort Sales 4

Commercial Auctions 1

Other 12

All

Commercial

Members

27%

26%

25%

21%

21%

20%

18%

17%

15%

12%

10%

8%

6%

5%

3

1%

12%

0 5 10 15 20 25 30

Investment Sales

Land Sales

Office Leasing

Retail Building Sales

Retail Leasing

Office Building Sales

Multi-family Building Sales

Industrial Building Sales

Industrial Leasing

Commercial Property Management

Consulting

Development

Multi-family Property Management

Commercial Appraisal

Hospitality/Resort Sales

Commercial Auctions

Other

PRIMARY BUSINESS SPECIALTY OF NAR'S COMMERCIAL MEMBERS



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Exhibit 1-8

PRIMARY BUSINESS SPECIALTY OF NAR'S COMMERCIAL MEMBERS BY LICENSE TYPE


Broker

Broker

Associate

Sales

Agent Appraiser

Investment Sales 27% 27% 30% 26% 14%

Land Sales 26 26 32 24 13

Office Leasing 25 26 27 27 7

Retail Building Sales 21 20 24 23 13

Retail Leasing 21 21 20 25 9

Office Building Sales 20 19 24 22 14

Multi-family Building Sales 18 18 21 18 6Industrial Building Sales 17 15 24 18 7Industrial Leasing 15 15 22 15 2Commercial Property Management 12 15 8 9 8Consulting 10 11 9 6 19Development 8 10 8 6 6Multi-family Property Management 6 9 2 5 3

Commercial Appraisal 5 1 1 1 60

Hospitality/Resort Sales 4 3 5 5 2

Commercial Auctions 1 1 1 1 *Other 12 12 10 12 9


All

Commercial

Members

Licensed As



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Exhibit 1-9

PRIMARY BUSINESS SPECIALTY OF NAR'S COMMERCIAL MEMBERS BY GENDER


Male Female

Investment Sales 27% 27% 24%

Land Sales 26 25 27

Office Leasing 25 24 25

Retail Building Sales 21 21 17

Retail Leasing 21 21 20

Office Building Sales 20 20 17

Multi-family Building Sales 18 17 18

Industrial Building Sales 17 18 12

Industrial Leasing 15 16 11

Commercial Property Management 12 10 13

Consulting 10 11 5

Development 8 8 6

Multi-family Property Management 6 6 7

Commercial Appraisal 5 6 3

Hospitality/Resort Sales 4 4 5

Commercial Auctions 1 1 *

Other 12 11 13


All

Commercial

Members

Gender



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Exhibit 1-10

SECONDARY BUSINESS SPECIALTY OF NAR'S COMMERCIAL MEMBERS


Investment Sales 14%

Retail Leasing 14

Land Sales 14

Office Leasing 13

Office Building Sales 12

Multi-family Building Sales 11

Retail Building Sales 11Consulting 10Industrial Building Sales 10Industrial Leasing 8Commercial Property Management 8Development 8Multi-family Property Management 5Hospitality/Resort Sales 3

Commercial Appraisal 2

Commercial Auctions 1

Other 9

All

Commercial

Members14%

14%

14%

13%

12%

11%

11%

10%

10%

8%

8%

8%

5%

3%

1%

9%

0 5 10 15 20

Investment Sales

Retail Leasing

Land Sales

Office Leasing

Office Building Sales

Multi-family Building Sales

Retail Building Sales

Consulting

Industrial Building Sales

Industrial Leasing

Commercial Property Management

Development

Multi-family Property Management

Hospitality/Resort Sales

Commercial Appraisal

Commercial Auctions

Other

SECONDARY BUSINESS SPECIALTY OF NAR'S COMMERCIAL MEMBERS



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Exhibit 1-11

REAL ESTATE EXPERIENCE OF NAR'S COMMERCIAL MEMBERS BY LICENSE TYPE


Broker

Broker

Associate

Sales

Agent Appraiser

1 year or less * * * 1% *

2 years 1 * * 2 *

3 years 1 * 1 2 *

4 years 1 1 1 3 *

5 years 2 2 1 5 *

6 to 10 years 16 12 14 30 3

11 to 15 years 12 12 13 15 6

16 to 25 years 22 22 22 23 16

26 to 39 years 34 38 38 18 51

40 or more years 11 14 11 2 24

Median (years) 25 25 31 13 31


Licensed AsNAR's

Commercial

Members



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Exhibit 1-12


Broker

Broker

Associate

Sales

Agent Appraiser

1 year or less 4% 2% 2% 7% 15%

2 years 2 1 1 6 *

3 years 3 3 4 5 1

4 years 3 3 3 6 1

5 years 6 5 6 10 1

6 to 10 years 21 18 21 28 13

11 to 15 years 14 15 14 15 7

16 to 25 years 21 21 23 17 23

26 to 39 years 21 25 21 8 32

40 or more years 5 7 5 * 6

Median (years) 15 18 15 8 20


Licensed AsAll

Commercial

Members

NAR COMMERCIAL MEMBERS' YEARS OF EXPERIENCE AS COMMERCIAL AGENTS OR BROKERS BY LICENSE TYPE



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Exhibit 1-13


All

Commercial

Members

Counselors

of Real

Estate (CRE)

Accredited

Land

Consultant

(RLI)

Certified

International

Property

Specialists

(CIPS)

Society of

Industrial

and Office

REALTORS

(SIOR)

Institute of

Real Estate

Management

(IREM)

Certified

Commercial

Investment

Member (CCIM

Institute)

Not a

member

of any

affiliate

1 year or less 4% * 2% 4% * 2% * 5%

2 years 2 * 2 * 2 * 1 3

3 years 3 * 4 7 * 2 2 3

4 years 3 * 4 5 * 5 2 4

5 years 6 * 2 10 2 * 5 6

6 to 10 years 21 16 15 23 3 12 20 2311 to 15 years 14 12 18 13 10 12 18 14

16 to 25 years 21 24 18 19 23 18 22 20

26 to 39 years 21 32 26 14 47 39 25 19

40 or more years 5 16 11 6 15 12 6 4

Median (years) 15 25 20 12 27 26 18 13



NAR COMMERCIAL MEMBERS' YEARS OF EXPERIENCE AS COMMERCIAL AGENTS OR BROKERS BY MEMBERSHIP IN NAR AFFILIATES



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Exhibit 1-14

REAL ESTATE AND COMMERCIAL REAL ESTATE EXPERIENCES OF NAR'S COMMERCIAL MEMBERS, BY GENDER


Male Female Male Female

1 year or less * * 3% 6%

2 years * 1 2 3

3 years 1 2 3 4

4 years 1 1 4 2

5 years 1 2 5 7

6 to 10 years 14 19 19 26

11 to 15 years 11 13 14 17

16 to 25 years 22 23 22 20

26 to 39 years 37 32 23 14

40 or more years 12 7 7 2

Median (years) 25 21 16 11

EXPERIENCE AS COMMERCIAL

AGENT OR BROKERREAL ESTATE EXPERIENCE



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Exhibit 1-15

LENGTH OF MEMBERSHIP IN NATIONAL ASSOCIATION OF REALTORS BY LICENSE TYPE


Broker

Broker

Associate

Sales

Agent Appraiser

1 year or less 1% * * 1% *

2 years 2 1 1 3 1

3 years 2 2 2 4 *

4 years 3 2 3 6 *

5 years 4 3 3 6 3

6 to 10 years 22 18 19 33 19

11 to 15 years 16 16 16 16 10

16 to 25 years 23 23 25 22 19

26 to 39 years 24 28 24 9 35

40 or more years 6 7 6 1 14

Median (years) 17 20 18 10 25


Licensed AsNAR's

Commercial

Members



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Exhibit 1-16

LENGTH OF MEMBERSHIP IN NATIONAL ASSOCIATION OF REALTORS BY MEMBERSHIP IN NAR AFFILIATES


Counselors

of Real

Estate (CRE)

Accredited

Land

Consultant

(RLI)

Certified

International

Property

Specialists

(CIPS)

Society of

Industrial and

Office

REALTORS

(SIOR)

Institute of

Real Estate

Management

(IREM)

Certified

Commercial

Investment

Member (CCIM

Institute)

Not a

member of

any affiliate

1 year or less 1% * 2% 4% 2% 6% 5% 34%

2 years 2 * 6 4 2 5 4 2

3 years 2 * 2 3 2 * 4 2

4 years 3 5 4 3 * 3 6 1

5 years 4 * 4 12 5 2 5 5

6 to 10 years 22 24 31 27 16 19 27 16

11 to 15 years 16 5 21 15 21 6 15 12

16 to 25 years 23 33 8 19 21 29 17 15

26 to 39 years 24 24 10 10 27 22 13 11

40 or more years 6 10 10 4 4 8 3 2

Median (years) 17 20 10 10 16 20 10 7


All

Commercial

Members




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Exhibit 1-17

MEMBERSHIP IN OTHER NATIONAL/INTERNATIONAL ASSOCIATIONS


2013 2012 2011 2010 2009 2007

International Council of Shopping Centers (ICSC) 33% 45% 37% 37% 14% 33%

The Appraisal Institute 11 16 18 20 5 9

The Urban Land Institute (ULI) 8 13 13 16 4 8

Building Owners and Managers Association (BOMA) 8 15 16 12 6 9

National Association of Industrial & Office Properties

(NAIOP)

6 12 13 13 5 11

CREW Network 5 8 7 10 2 5

U.S. Green Building Council (USGBC) 4 8 10 NA NA NA

The International Real Estate Federation (FIABCI) 4 3 3 7 NA NACoreNet Global 3 3 6 3 1 3

American Hotel and Lodging Association (AHLA) 2 2 3 NA NA NA

National Multi-Housing Council (NMHC) 2 4 4 7 1 1

Royal Institution of Chatered Surveryors (RICS) 2 3 3 6 NA NA

Association of Foreign Investors in Real Estate (AFIRE) 1 1 1 NA NA NA

American Resort Development Association (ARDA) 1 2 1 NA NA NA

International Facilities Management Association (IFMA) 1

* 2 * 1 1

American College of Real Estate Lawyers (ACREL) * * * 1 NA NA

The American Institute of Architects (AIA) * 1 1 NA NA NA

None * * 2 5 5 11

Other 42 10 50 12 41 34


NA=Data not available



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BUSINESS ACTIVITY OF NAR'S COMMERCIAL MEMBERS

Exhibit 1-18

INFORMATION SOURCES NAR'S COMMERCIAL MEMBERS USE MOST


LoopNet 78%

NAR 48

CoStar In-House Research 40

CCIM/Net 26

Catalyst 18

CommercialSource.com 16

Local CIE 15

REIS 13

Xceligent 13Real Capital Analytics 6

CIMLS 6

CBRE Econometrics Advisors (formerly TWR) 5

Property Portfolio Research 5

Real Estate Research Corporation 4

COMMREX 3

Plunkett Research *

Rosen Consulting Group *

Other 15


All Commercial

Members



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Chapter 2

The median number of transactions for commercial specialists

was eight in 2012. The median transaction volume in 2012 among

members who had a transaction was $2,507,700. Nine percent of

commercial members reported not having a transaction. Brokers

typically had a higher sales transaction volume than sales agents.

Experience in both commercial real estate and real estate overall

also plays a factor in the sales transaction volume.

The median transaction leasing volume in 2012 among members

who had a leasing transaction was $476,400. Twenty-one percent

of commercial members reported not having a leasing

transaction.

The median dollar value of sales transactions in 2011 was$433,600. The median leasing dollar value for commercial

members in 2012 was $169,100. The median square footage of

sales transactions in 2012 was 10,400. Leasing transactions were

typically 4,200 square feet.

Commercial members who manage properties typically managed

40,000 total square feet, representing 15 total spaces.

Commercial members typically managed 16,000 total office

square feet, representing six total offices.

Seventy-three percent of all commercial members had no

international transactions in 2012. However, 16 percent of

commercial members reported an increase in international

transactions, while only one percent had a decrease. About one-

quarter of commercial members reported international business

was at least important to their company.

Commercial members are familiar with tenant-in-common (TIC)

transactions, and while 77 percent of them have not participated

in such transactions, 26 percent indicated that they plan to

engage in a TIC deal in the future.



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Exhibit 2-1 NUMBER OF COMMERCIAL TRANSACTIONS, 2012

Exhibit 2-2 NUMBER OF COMMERCIAL TRANSACTIONS, 2012, BY EXPERIENCE

Exhibit 2-3 SALES TRANSACTION VOLUME IN 2012-2006, BY LICENSE TYPE

Exhibit 2-4 SALES TRANSACTION VOLUME IN 2012, BY EXPERIENCE

Exhibit 2-5 TYPICAL DOLLAR VALUE OF SALES TRANSACTIONS IN 2012, BY LICENSE TYPEExhibit 2-6 TYPICAL DOLLAR VALUE OF SALES TRANSACTIONS IN 2012, BY EXPERIENCE

Exhibit 2-7 TYPICAL SIZE (IN SQUARE FEET) OF SALES TRANSACTIONS IN 2012, BY LICENSE TYPE

Exhibit 2-8 LEASE TRANSACTION VOLUME (GROSS LEASE DOLLARS) 2012-2006, BY LICENSE TYPE

Exhibit 2-9 TYPICAL DOLLAR VALUE PER LEASING TRANSACTION IN 2012, BY LICENSE TYPE

Exhibit 2-10 TYPICAL DOLLAR VALUE PER LEASING TRANSACTION IN 2012, BY EXPERIENCE

Exhibit 2-11 TYPICAL SIZE (IN SQUARE FEET) OF LEASING TRANSACTIONS IN 2012, BY LICENSE TYPE

Exhibit 2-12 TYPICAL OFFICE SPACE MANAGED, AMONG MEMBERS WHO MANAGE PROPERTIES

Exhibit 2-13 INTERNATIONAL COMMERCIAL TRANSACTIONS, 2012, BY LICENSE TYPE

Exhibit 2-14 INTERNATIONAL COMMERCIAL TRANSACTIONS, 2012, BY MEMBERSHIP IN NAR AFFILIATES

Exhibit 2-15 IMPORTANCE OF INTERNATIONAL BUSINESS TO COMPANY

Exhibit 2-16 PARTICIPATION IN TENANT-IN-COMMON (TIC) TRANSACTIONS, BY LICENSE TYPE

Exhibit 2-17 PARTICIPATION IN TENANT-IN-COMMON (TIC) TRANSACTIONS, BY MEMBERSHIP IN NAR AFFILIATES



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Exhibit 2-1

NUMBER OF COMMERCIAL TRANSACTIONS, 2012


Broker

Broker

Associate

Sales

Agent

None 8% 6% 5% 10%

1 to 4 29 29 25 30

5 to 9 22 22 25 21

10 to 14 14 12 17 14

15 to 19 9 10 8 9

20 or more 19 20 19 15

Median (transactions) 8 8 8 7

All

Commercial

Members

Licensed As



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Exhibit 2-2

NUMBER OF COMMERCIAL TRANSACTIONS, 2012, BY EXPERIENCE


2 years or

less

3 to 5

years

6 to 15

years

16 to 25

years

26 years

or more

None 8% 18% 4% 10% 8% 7%

1 to 4 29 55 44 30 28 26

5 to 9 22 9 14 23 22 22

10 to 14 14 18 17 12 14 15

15 to 19 9 * 10 8 7 11

20 or more 19 * 12 18 22 20

Median (transactions) 8 3 6 7 8 8


Experience as a Commercial Real EstateAgent or BrokerAll

Commercial

Members



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Exhibit 2-3

SALES TRANSACTION VOLUME IN 2012-2006, BY LICENSE TYPE


Broker

ro er

Associate

a es

Agent

Less than $100,000 7% 8% 9% 8% 18% 15% 6% 4% 12%

$100,000 to $249,999 5 5 5 6 4 4 5 4 5

$250,000 to $499,999 8 5 8 7 5 5 8 8 6

$500,000 to $999,999 9 10 10 9 7 7 7 9 12

$1,000,000 to $1,999,999 14 12 16 13 15 17 13 19 14

$2,000,000 to $4,999,999 27 23 23 24 26 17 26 31 25

$5,000,000 or more 21 17 15 14 24 35 23 20 18

No transactions 9 22 15 19 NA NA 11 5 8

Median (including those

with "no transactions") $1,857,100 $1,058,300 $1,282,100 $1,067,000 NA NA $1,939,800 $2,095,600 $1,466,700

Median (excluding thosewith "no transactions") $2,507,700 $2,010,500 $1,722,200 $1,767,900 $2,024,900 $2,248,700 $3,259,500 $2,818,200 $1,782,300

2012 2008

Licensed As

2006200920102011



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Exhibit 2-4

SALES TRANSACTION VOLUME IN 2012, BY EXPERIENCE


2 years or

less

3 to 5

years

6 to 15

years

16 to 25

years

26 years or

more

2 years

or less

3 to 5

years

6 to 15

years

16 to 25

years

26 years or

more

Less than $100,000 40% 6% 8% 8% 6% 20% 7% 6% 9% 5%

$100,000 to $249,999 10 4 6 3 5 5 5 5 5 4

$250,000 to $499,999 0 20 6 9 8 11 11 7 6 8

$500,000 to $999,999 10 14 10 12 6 13 11 10 8 6

$1,000,000 to $1,999,999 30 12 15 16 13 13 15 14 16 13

$2,000,000 to $4,999,999 0 18 25 23 30 11 22 29 28 27

$5,000,000 or more 0 18 20 20 23 4 16 20 21 27

No transactions 10 6 11 9 9 25 12 8 7 10

Median (including those

with "no transactions") $100,000 $965,000 $1,631,600 $1,583,900 $2,212,600 $250,000 $1,264,900 $1,951,400 $1,926,400 $2,307,700

Median (excluding those

with "no transactions") $175,700 $1,176,900 $1,988,200 $1,858,000 $3,757,100 $571,900 $1,651,200 $2,728,600 $2,538,500 $4,000,000

Experience as a Commercial Real Estate

Agent or BrokerReal Estate Experience



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Exhibit 2-5

TYPICAL DOLLAR VALUE OF SALES TRANSACTIONS IN 2012, BY LICENSE TYPE


Broker

Broker

Associate Sales Agent

Less than $100,000 9% 8% 7% 13%

$100,000 to $249,999 21 18 29 18

$250,000 to $499,999 27 28 26 28

$500,000 to $999,999 23 24 22 22

$1,000,000 to $1,999,999 10 10 10 11

$2,000,000 to $4,999,999 7 9 3 7

$5,000,000 or more 3 3 4 2

Median $433,600 $461,800 $393,100 $419,400

AllCommercial

Members

Licensed As



32/85


Exhibit 2-6

TYPICAL DOLLAR VALUE OF SALES TRANSACTIONS IN 2012, BY EXPERIENCE


2 years or

less

3 to 5

years

6 to 15

years

16 to 25

years

26 years or

more

Less than $100,000 9% 17% 8% 11% 9% 7%

$100,000 to $249,999 21 29 29 20 19 19

$250,000 to $499,999 27 24 31 28 28 25

$500,000 to $999,999 23 20 18 22 23 25

$1,000,000 to $1,999,999 10 5 8 11 11 11

$2,000,000 to $4,999,999 7 5 4 7 9 8

$5,000,000 or more 3 * 2 2 2 5Median $433,600 $286,900 $356,300 $427,700 $455,200 $489,900



Commercial

Members



33/85


Exhibit 2-7

TYPICAL SIZE (IN SQUARE FEET) OF SALES TRANSACTIONS IN 2012, BY LICENSE TYPE


Broker

Broker

Associate

Sales

Agent

5,000 or less 40% 37% 43% 44%

5,000 to 24,999 37 37 37 37

25,000 to 49,999 9 10 7 7

50,000 to 99,999 7 8 7 4

100,000 to 249,999 4 4 3 2

250,000 to 499,999 2 1 3 2

500,000 to 999,999 1 * 1 21,000,000 or more 2 3 * 2

Median 10,400 12,000 9,100 8,200

All

Commercial

Members

Licensed As



34/85


Exhibit 2-8

LEASE TRANSACTION VOLUME (GROSS LEASE DOLLARS) 2012-2006, BY LICENSE TYPE


2012 2011 2010 2009 2008 2006 Broker

Broker

Associate

Sales

Agent

Less than $100,000 18% 17% 24% 18% 39% 45% 17% 19% 20%

$100,000 to $249,999 12 11 11 9 12 12 13 13 9

$250,000 to $499,999 10 8 9 6 11 11 9 12 12

$500,000 to $999,999 11 8 8 7 11 9 11 9 12

$1,000,000 to $1,999,999 10 8 7 7 9 9 10 10 11

$2,000,000 to $4,999,999 11 9 7 7 10 7 13 11 7

$5,000,000 or more 7 6 6 4 8 8 7 5 7

No transactions 21 34 25 42 NA NA 20 21 22

Median (including those with

"no transactions") $230,500 $93,100 $118,400 $45,000 NA NA $245,300 $219,800 $226,100Median (excluding those with

"no transactions") $476,400 $402,100 $145,000 $330,200 $244,300 $183,300 $552,200 $402,900 $453,900

Licensed As

Note: For multi-year lease terms, respondents included the total multi-year lease value. E.g.,

3 year lease that is $500,000 per year, should be recorded as $1,500,000.



35/85


Exhibit 2-9

TYPICAL DOLLAR VALUE PER LEASING TRANSACTION IN 2012, BY LICENSE TYPE


All Commercial

Members Broker

Broker

Associate Sales Agent

Less than $100,000 38% 37% 38% 41%

$100,000 to $249,999 27 24 34 27

$250,000 to $499,999 17 19 15 15

$500,000 to $999,999 10 12 7 8

$1,000,000 to $1,999,999 5 5 3 6

$2,000,000 to $4,999,999 2 2 2 3

$5,000,000 or more 1 1 1 2

Median $169,100 $185,800 $154,600 $153,400

Licensed As



36/85


Exhibit 2-10

TYPICAL DOLLAR VALUE PER LEASING TRANSACTION IN 2012, BY EXPERIENCE


2 years

or less

3 to 5

years

6 to 15

years

16 to 25

years

26 years or

more

Less than $100,000 38% 71% 53% 41% 31% 28%

$100,000 to $249,999 27 14 24 26 28 28

$250,000 to $499,999 17 10 14 18 20 16

$500,000 to $999,999 10 * 4 9 11 14

$1,000,000 to $1,999,999 5 * 2 4 5 8

$2,000,000 to $4,999,999 2 5 1 1 3 4

$5,000,000 or more 1 * 2 1 2 1Median $169,100 $70,000 $93,600 ####### $200,900 $216,200



Commercial

Members



37/85


Exhibit 2-11

TYPICAL SIZE (IN SQUARE FEET) OF LEASING TRANSACTIONS IN 2012, BY LICENSE TYPE


Broker

Broker

Associate

Sales

Agent

5,000 or less 60% 59% 57% 62%

5,000 to 24,999 31 31 39 29

25,000 to 49,999 5 6 2 5

50,000 to 99,999 2 3 1 3

100,000 to 249,999 1 1 1 1

250,000 to 499,999 * * * 1

500,000 to 999,999 * * * *

1,000,000 or more * * * 1Median 4,200 4,300 4,400 4,100


AllCommercial

Members

Licensed As



38/85


Exhibit 2-12

TYPICAL OFFICE SPACE MANAGED, AMONG MEMBERS WHO MANAGE PROPERTIES

(Medians)

Total typical square feet managed 40,000

Total typical number of spaces managed 15

Total typical office square feet managed 16,000

Total typical number of offices managed 6

AllCommercial

Members



39/85


Exhibit 2-13

INTERNATIONAL COMMERCIAL TRANSACTIONS, 2012, BY LICENSE TYPE


Broker

Broker

Associate Sales Agent Appraisal

No international transactions 73% 77% 66% 63% 88%

An increase in international

transactions from previous year 16 13 21 23 6

About the same 10 8 12 13 5

A decrease in international

transactions from previous year 1 2 1 1 1


LICENSED AS

All Commercial

Members



40/85


Exhibit 2-14

INTERNATIONAL COMMERCIAL TRANSACTIONS, 2012, BY MEMBERSHIP IN NAR AFFILIATES


Counselorsof Real

Estate

(CRE)

AccreditedLand

Consultant

(RLI)

Certified

InternationalProperty

Specialists

(CIPS)

Society of

Industrialand Office

REALTORS

(SIOR)

Institute ofReal Estate

Management

(IREM)

Certified

CommercialInvestment

Member (CCIM

Institute)

Not amember

of any

affiliate

No international transactions 73% 80% 63% 59% 59% 77% 68% 75%

An increase in international

transactions from previous year 16 8 28 25 25 17 19 15

About the same 10 12 9 13 16 6 12 9

A decrease in international

transactions from previous year 1 * * 2 * * 1 2


All

Commercial

Members




41/85


Exhibit 2-15

IMPORTANCE OF INTERNATIONAL BUSINESS TO COMPANY


All Commercial

Members

Extremely important 6%

Important 18

Neutral 34

Unimportant 11

Not important at all 32



42/85


Exhibit 2-16

PARTICIPATION IN TENANT-IN-COMMON (TIC) TRANSACTIONS, BY LICENSE TYPE


Broker

Broker


Have completed a TIC

transaction 23% 27% 17% 17% 24%

Have not completed a TIC

transaction 77 73 83 83 76

Plan on completing a TIC

transaction in the future 26% 27% 26% 23% 27%

Do not plan on completing

a TIC transaction in thefuture 74 73 74 77 73

All Commercial

Members

LICENSED AS



43/85


Exhibit 2-17

PARTICIPATION IN TENANT-IN-COMMON (TIC) TRANSACTIONS, BY MEMBERSHIP IN NAR AFFILIATES


Counselors

of Real

Estate

(CRE)

Accredited

Land

Consultant

(RLI)

Certified

International

Property

Specialists (CIPS)

Society of

Industrial and

Office

REALTORS

(SIOR)

Institute of

Real Estate

Management

(IREM)

Certified

Commercial

Investment Member

(CCIM Institute)

Not a

member

of any

affiliate

Have completed a TIC

transaction 23% 55% 34% 28% 27% 27% 28% 20%

Have not completed a TIC 77 46 66 72 74 73 72 80

Plan on completing a TIC

transaction in the future 26% 29% 37% 38% 20% 36% 28% 23%

Do not plan on completing

a TIC transaction in the

future 74 71 63 62 80 64 72 77

All

Commercial

Members




44/85

Chapter 3

Commercial members had an annual gross income in 2012 of

$90,200. The annual income of commercial members is at its

highest reported level since 2008. Brokers and appraisers tend to

report the highest median annual incomes, while sales agents

report the lowest among licensees. Those with less than two

years of experience reported a median annual income of $35,400,

while those with more than 26 years of experience reported a

median annual income of $123,700.

Eighty-three percent of commercial members reported working at

least 40 hours a week. About half of commercial members spend

75 to 100 percent of their time on commercial real estate activity.

Most commercial members are compensated on a commissionbasis. The most prevalent form of compensation is the

percentage split commission, whereby the commission is split

between the sales/leasing representative and the broker or

brokers office.

Sixty-three percent of NARs commercial members derive 50

percent or more of their annual income from the real estate

industry. Thirty percent of respondents did not derive income

from commercial real estate leasing in 2012. Only 23 percentderived at least half to all of their income from leasing property

in 2012. A total of 46 percent of commercial members derived 50

percent or more of their income in 2012 from the sale of real

estate.

The majority56 percentof commercial members reported

working in a firm that is local. Thirty-one percent of commercial

members work in an area with a population base of 249,999 or

less, while 24 percent of commercial members work in an area

where the population base is 2,000,000 or more people. Thirty-

four percent work in offices that employ only commercial brokers

and/or agents. Fifty-eight percent work within an office that has a

mix of commercial and residential brokers/agents.

Eighty-five percent of commercial members earned some

personal income from commercial real estate investments.

Twenty percent of commercial members made at least 50 percent

of their personal income from their personal investment in

commercial real estate.



45/85

Business Revenue and Firm Affiliation

Exhibit 3-1

INCOME FROM REAL ESTATE ACTIVITIES--ANNUAL GROSS PERSONAL INCOME, 2012-2006, BY LICENSE

TYPE

Exhibit 3-2

INCOME FROM REAL ESTATE ACTIVITIES--ANNUAL GROSS PERSONAL INCOME, 2012, BY GENDER,

EXPERIENCE, AND WORK HOURS

Exhibit 3-3INCOME FROM REAL ESTATE ACTIVITIES--ANNUAL GROSS PERSONAL INCOME, 2012, BY MEMBERSHIP INNAR AFFILATES

Exhibit 3-4 HOURS WORKED PER WEEK, BY LICENSE TYPE

Exhibit 3-5 HOURS WORKED PER WEEK, BY LICENSE TYPE, BY GENDER AND EXPERIENCE

Exhibit 3-6 TIME SPENT ON COMMERCIAL REAL ESTATE ACTIVITY, BY LICENSE TYPE

Exhibit 3-7 TIME SPENT ON COMMERCIAL REAL ESTATE ACTIVITY, BY GENDER AND EXPERIENCE

Exhibit 3-8 COMPENSATION STRUCTURES FOR NAR'S COMMERCIAL MEMBERS, 2012, BY LICENSE TYPE

Exhibit 3-9 COMPENSATION STRUCTURES FOR NAR'S COMMERCIAL MEMBERS, 2012, BY GENDER AND EXPERIENCE

Exhibit 3-10 COMPENSATION STRUCTURES FOR NAR'S COMMERCIAL MEMBERS, 2012, NAR MEMBER AFFILIATES

Exhibit 3-11 SHARE OF ANNUAL INCOME FROM ALL TYPES OF COMMERCIAL ACTIVITIES, 2012, BY LICENSE TYPE

Exhibit 3-12

SHARE OF ANNUAL INCOME FROM ALL TYPES OF COMMERCIAL ACTIVITIES, 2012, BY GENDER AND

EXPERIENCE

Exhibit 3-13 SHARE OF ANNUAL INCOME FROM COMMERCIAL SALES ACTIVITY, 2012, BY LICENSE TYPE

Exhibit 3-14 SHARE OF ANNUAL INCOME FROM COMMERCIAL SALES ACTIVITY, 2012, BY GENDER AND EXPERIENCE

Exhibit 3-15 SHARE OF ANNUAL INCOME FROM COMMERCIAL LEASING ACTIVITY, 2012, BY LICENSE TYPE

Exhibit 3-16

SHARE OF ANNUAL INCOME FROM COMMERCIAL LEASING ACTIVITY, 2012, BY GENDER AND

EXPERIENCE

Exhibit 3-17

SHARE OF ANNUAL INCOME FROM COMMERCIAL PROPERTY MANAGEMENT ACTIVITY, 2012, BY LICENSE

TYPE

Exhibit 3-18

SHARE OF ANNUAL INCOME FROM COMMERCIAL PROPERTY MANAGEMENT, 2012, BY GENDER AND

EXPERIENCE

Exhibit 3-19 COMMERCIAL FIRM AFFILIATION

Exhibit 3-20 FIRM CHARACTERISTICS, BY LICENSE TYPE

Exhibit 3-21 FIRM COMPOSITION, BY LICENSE TYPE

Exhibit 3-22

NUMBER OF ACTIVE COMMERCIAL SALES/LEASING AGENTS OR BROKERS, OR PROPERTY MANAGEMENT

PROFESSIONALS IN THE FIRM, BY LICENSE TYPE

Exhibit 3-23 POPULATION BASE FOR THE MARKET OFFICE PRACTICED, BY LICENSE TYPE

Exhibit 3-24

PERSONAL INVESTMENT IN COMMERCIAL REAL ESTATE AS A PERCENTAGE OF PERSONAL INCOME IN

2012, BY LICENSE TYPE



46/85


Exhibit 3-1

INCOME FROM REAL ESTATE ACTIVITIES--ANNUAL GROSS PERSONAL INCOME, 2012-2006, BY LICENSE TYPE


2012 2011 Broker

Broker

Associate

Sales

Agent Appraisal

Less than $25,000 12% 14% 19% 23% 13% 11% 11% 11% 18% 4%

$25,000 to $49,999 13 15 16 16 12 11 12 11 21 8

$50,000 to $99,999 31 29 30 28 25 24 28 38 29 32

$100,000 to $249,999 32 30 28 23 34 33 35 30 26 41

$250,000 to $499,999 9 9 6 7 12 13 10 7 6 11

$500,000 to $1,000,000 2 2 2 2 3 5 3 3 * 3

More than $1,000,000 1 1 1 * 1 2 2 * * 1

Median $90,200 $86,000 $76,500 $68,600 $99,900 $115,600 $98,900 $86,400 $69,900 $120,000

*Less than one percent

LICENSED AS

2008 200620092010



47/85


Exhibit 3-2

INCOME FROM REAL ESTATE ACTIVITIES--ANNUAL GROSS PERSONAL INCOME, 2012, BY GENDER, EXPERIENCE, AND WORK HOURS


Male Female2 yearsor less

3 to 5years

6 to 15years

16 to 25years

26 yearsor more

Less than20 hours

20 to 39hours

40 to 59hours

60 hoursor more

Less than $25,000 12% 11% 15% 42% 19% 12% 6% 7% 64% 31% 8% 4%

$25,000 to $49,999 13 12 19 19 20 14 11 11 14 19 12 12

$50,000 to $99,999 31 29 37 19 32 30 37 27 14 32 32 26

$100,000 to $249,999 32 35 24 17 26 33 35 37 9 12 38 34

$250,000 to $499,999 9 10 3 3 3 8 10 12 * 5 7 17

$500,000 to $1,000,000 2 2 2 * 1 2 1 5 * 1 1 5

More than $1,000,000 1 1 * * 1 1 * 2 * 1 1 1

Median $90,200 $96,700 $72,200 $35,400 $68,200 $90,400 $94,700 $123,700 $19,700 $50,500 $96,800 $132,700



Agent or BrokerAll

CommercialMembers

GENDER WORK HOURS



48/85


Exhibit 3-3

INCOME FROM REAL ESTATE ACTIVITIES--ANNUAL GROSS PERSONAL INCOME, 2012, BY MEMBERSHIP IN NAR AFFILATES


Counselors

of Real

Estate

(CRE)

Accredited

Land

Consultant

(RLI)

Certified

International

Property

Specialists (CIPS)

Society ofIndustrial and

Office

REALTORS

(SIOR)

Institute of

Real Estate

Management

(IREM)

CertifiedCommercial

Investment

Member (CCIM

Institute)

Not a

member

of any

affiliate

Less than $25,000 12% 0% 7% 28% 0% 5% 5% 15%

$25,000 to $49,999 13 6 5 8 7 5 9 17

$50,000 to $99,999 31 18 42 30 11 21 27 32

$100,000 to $249,999 32 41 28 22 42 60 43 28

$250,000 to $499,999 9 35 14 8 24 5 13 7

$500,000 to $1,000,000 2 * 5 3 11 2 3 1

More than $1,000,000 1 * * * 4 2 2 1

Median $90,200 $196,500 $95,700 $72,300 $214,500 $146,100 $133,900 $79,300


All

Commercial

Members




49/85


Exhibit 3-4

HOURS WORKED PER WEEK, BY LICENSE TYPE


Broker

Broker

Associate

Sales

Agent Appraisal

Less than 20 hours 2% 2% 1% 2% 1%

20 to 39 hours 16 14 17 23 2

40 to 59 hours 60 60 59 59 60

60 hours or more 23 24 22 16 37

All

Commercial

Members

LICENSED AS



50/85


Exhibit 3-5

HOURS WORKED PER WEEK, BY LICENSE TYPE, BY GENDER AND EXPERIENCE


Male Female

2 years

or less

3 to 5

years

6 to 15

years

16 to 25

years

26 years

or more

Less than 20 hours 2% 2% 3% 6% 3% 2% 1% 2%

20 to 39 hours 16 13 24 11 23 15 16 14

40 to 59 hours 60 63 51 59 58 58 62 60

60 hours or more 23 23 22 24 17 24 20 24


All

Commercial

Members

GENDER



51/85


Exhibit 3-6

TIME SPENT ON COMMERCIAL REAL ESTATE ACTIVITY, BY LICENSE TYPE


Broker

Broker

Associate

Sales

Agent Appraisal

None 2% 2% 3% 3% 3%

1 to 24% 14 15 15 15 6

25 to 49% 13 11 13 15 16

50 to 74% 19 18 20 18 21

75 to 100% 52 54 50 49 55

All

Commercial

Members

LICENSED AS



52/85


Exhibit 3-7

TIME SPENT ON COMMERCIAL REAL ESTATE ACTIVITY, BY GENDER AND EXPERIENCE


Male Female

2 years or

less

3 to 5

years

6 to 15

years

16 to 25

years

26 years

or more

None 2% 2% 5% 15% 4% 1% 1% 1%

1 to 24% 14 12 20 23 20 14 12 11

25 to 49% 13 12 15 20 14 14 12 10

50 to 74% 19 19 17 15 22 22 15 17

75 to 100% 52 55 43 27 41 50 60 61

All

Commercial

Members

Experience as a Commercial Real EstateAgent or BrokerGENDER



53/85


Exhibit 3-8

COMPENSATION STRUCTURES FOR NAR'S COMMERCIAL MEMBERS, 2012, BY LICENSE TYPE


Broker

Broker

Associate

Sales

Agent Appraisal

Percentage commission split 45% 35% 58% 61% 24%

100% commission 34 41 30 27 17

Fee for service 6 5 1 2 8

Commission plus a share of profits 5 6 4 2 1

Commission plus salary 4 5 1 1 39

Salary plus a share of profits 4 4 4 4 5

Straight salary 2 2 1 1 1

Share of profits only 2 2 1 2 4

LICENSED ASAll

Commercial

Members



54/85


Exhibit 3-9

COMPENSATION STRUCTURES FOR NAR'S COMMERCIAL MEMBERS, 2012, BY GENDER AND EXPERIENCE


Male Female

2 years

or less

3 to 5

years

6 to 15

years

16 to 25

years

26 years

or more

Percentage commission split 45% 41% 52% 51% 48% 52% 41% 35%

100% commission 34 36 30 26 34 33 36 35

Fee for service 6 4 3 2 1 3 4 6

Commission plus a share of profits 5 5 2 4 4 3 4 7

Commission plus salary 4 6 3 13 2 3 6 8

Salary plus a share of profits 4 4 5 2 7 3 5 4

Straight salary 2 2 1 * 2 1 2 3

Share of profits only 2 2 4 2 3 2 3 2



All

Commercial

Members

GENDER



55/85


Exhibit 3-10

COMPENSATION STRUCTURES FOR NAR'S COMMERCIAL MEMBERS, 2012, NAR MEMBER AFFILIATES


Counselors

of Real

Estate

(CRE)

Accredited

Land

Consultant

(RLI)

Certified

International

Property

Specialists

(CIPS)

Society of

Industrial and

Office

REALTORS

(SIOR)

Institute of

Real Estate

Management

(IREM)

CertifiedCommercial

Investment

Member

(CCIM

Institute)

Not a

member

of any

affiliate

Percentage commission split 45% 40% 38% 48% 33% 33% 40% 47%

100% commission 34 28 32 40 41 24 39 33

Fee for service 6 8 4 1 2 17 5 2

Commission plus a share of profits 5 4 7 5 15 6 6 4

Commission plus salary 4 16 13 6 * 8 3 6

Salary plus a share of profits 4 * 2 * 7 5 4 5

Straight salary 2 4 2 * 3 2 2 1

Share of profits only 2 * 4 * * 6 1 2


All

Commercial

Members




56/85


Exhibit 3-11

SHARE OF ANNUAL INCOME FROM ALL TYPES OF COMMERCIAL ACTIVITIES, 2012, BY LICENSE TYPE


Broker

Broker


None 7% 7% 6% 10% 4%

1 to 24% 18 17 19 21 12

25 to 49% 12 10 13 15 13

50 to 74% 17 17 17 15 21

75 to 100% 47 49 45 40 50

Median 70% 74% 68% 59% 75%

LICENSED AS

All Commercial

Members



57/85


Exhibit 3-12

SHARE OF ANNUAL INCOME FROM ALL TYPES OF COMMERCIAL ACTIVITIES, 2012, BY GENDER AND EXPERIENCE


Male Female

2 years or

less

3 to 5

years

6 to 15

years

16 to 25

years

26 years

or more

None 7% 5% 14% 35% 9% 7% 4% 3%

1 to 24% 18 16 24 25 27 19 14 14

25 to 49% 12 13 9 9 13 12 13 12

50 to 74% 17 18 11 11 17 17 17 18

75 to 100% 47 48 41 20 34 46 53 54

Median 70% 72% 56% 14% 51% 70% 76% 77%


All

Commercial

Members

GENDER



58/85


Exhibit 3-13

SHARE OF ANNUAL INCOME FROM COMMERCIAL SALES ACTIVITY, 2012, BY LICENSE TYPE


Broker

Broker


None 20% 20% 14% 19% 42%

1 to 24% 18 17 18 18 18

25 to 49% 17 18 15 14 24

50 to 74% 23 22 27 23 11

75 to 100% 23 23 26 26 5

Median 43% 43% 53% 49% 11%


LICENSED AS

All Commercial

Members



59/85


Exhibit 3-14

SHARE OF ANNUAL INCOME FROM COMMERCIAL SALES ACTIVITY, 2012, BY GENDER AND EXPERIENCE


Male Female

2 years or

less

3 to 5

years

6 to 15

years

16 to 25

years

26 years

or more

None 20% 17% 31% 61% 21% 16% 16% 18%

1 to 24% 18 17 20 11 18 19 19 16

25 to 49% 17 18 14 6 13 18 20 18

50 to 74% 23 24 19 10 22 25 24 21

75 to 100% 23 25 17 13 26 23 21 27

Median 43% 49% 23% 0% 46% 47% 44% 48%


Commercial

Members

GENDER



60/85


Exhibit 3-15

SHARE OF ANNUAL INCOME FROM COMMERCIAL LEASING ACTIVITY, 2012, BY LICENSE TYPE


Broker

Broker


None 30% 27% 27% 30% 53%

1 to 24% 29 29 31 27 33

25 to 49% 19 20 22 18 7

50 to 74% 13 13 11 17 5

75 to 100% 9 11 9 9 2

Median 17% 19% 18% 18% 0%

LICENSED ASAll

Commercial

Members



61/85


Exhibit 3-16

SHARE OF ANNUAL INCOME FROM COMMERCIAL LEASING ACTIVITY, 2012, BY GENDER AND EXPERIENCE


Male Female

2 years or

less

3 to 5

years

6 to 15

years

16 to 25

years

26 years

or more

None 30% 27% 39% 72% 32% 26% 23% 28%

1 to 24% 29 30 24 11 37 30 30 28

25 to 49% 19 21 13 7 15 20 20 23

50 to 74% 13 12 15 4 8 17 16 12

75 to 100% 9 10 8 6 8 9 12 10

Median 17% 19% 11% 0% 12% 20% 22% 19%


All

Commercial

Members

GENDER



62/85


Exhibit 3-17


Broker

Broker


None 66% 58% 76% 75% 66%

1 to 24% 21 24 16 16 26

25 to 49% 6 9 3 3 6

50 to 74% 4 6 1 3 *

75 to 100% 4 4 3 3 1

Median 0% 0% 0% 0% 0%


LICENSED ASAll

Commercial

Members

SHARE OF ANNUAL INCOME FROM COMMERCIAL PROPERTY MANAGEMENT ACTIVITY, 2012, BY LICENSE

TYPE



63/85


Exhibit 3-18


Male Female

2 years or

less

3 to 5

years

6 to 15

years

16 to 25

years

26 years

or more

None 66% 65% 69% 85% 69% 70% 64% 55%

1 to 24% 21 22 15 9 18 18 21 27

25 to 49% 6 6 7 3 2 5 9 9

50 to 74% 4 4 4 1 4 4 4 4

75 to 100% 4 3 5 3 7 3 2 5

Median 0% 0% 0% 0% 0% 0% 0% 0%


Agent or BrokerAll

Commercial

Members

GENDER

SHARE OF ANNUAL INCOME FROM COMMERCIAL PROPERTY MANAGEMENT, 2012, BY GENDER AND

EXPERIENCE



64/85


Exhibit 3-19

COMMERCIAL FIRM AFFILIATION


Independent-not affiliated with a firm 31%

Re/Max Commercial 6

KW Commercial 5

Coldwell Banker Commercial 5

Century 21 Commercial 3

NAI Global 2

CB Richard Ellis 2

Cushman & Wakefield 1

Colliers International 1

ERA Commercial Investment Network 1

Grubb & Ellis 1

Sperry Van Ness 1

Marcus & Millichap *

Transwestern Commercial Services *

TCN Worldwide *

Cassidy Turley *

Duke Realty Corporation *

Jones Lang LaSalle *

Lee and Associates *

Lend Lease *

ONCOR International *Studley *

Trammell Crow *

Tishman Speyer *

Other 46


All Commercial Members



65/85


Exhibit 3-20

FIRM CHARACTERISTICS, BY LICENSE TYPE


Broker

Broker


Local 56% 64% 46% 46% 60%

Regional (2 or more States) 13 11 15 15 15

Statewide 12 14 11 10 18

International 12 7 19 18 5

National 6 4 9 10 2

LICENSED AS

All Commercial

Members



66/85


Exhibit 3-21

FIRM COMPOSITION, BY LICENSE TYPE


Broker

Broker

Associate

Sales

Agent Appraisal

More residential than commercial brokers/agents 46% 37% 61% 58% 23%

Commercial brokers/agents only 34 40 29 28 22

More commercial than residential brokers/agents 12 14 7 9 13

Not a brokerage firm 6 5 * 1 38

Residential brokers/agents only 4 3 3 5 4


LICENSED ASAll

Commercial

Members



67/85


Exhibit 3-22


Broker

Broker


None 3% 2% 2% 1% 17%

One 20 31 7 5 25

2 to 5 42 43 44 40 33

6 to 25 21 16 26 32 13

26 to 50 4 3 7 5 *

51 to 100 2 1 4 2 1

101 to 250 1 1 1 3 *

251 to 500 1 * 1 1 *

501 to 999 1 1 1 2 *

1,000 or more 2 1 3 3 1

Don't know 3 1 4 6 1

Not applicable 1 * * 1 9


LICENSED AS

All Commercial

Members

NUMBER OF ACTIVE COMMERCIAL SALES/LEASING AGENTS OR BROKERS, OR PROPERTY MANAGEMENT

PROFESSIONALS IN THE FIRM, BY LICENSE TYPE



68/85


Exhibit 3-23

POPULATION BASE FOR THE MARKET OFFICE PRACTICED, BY LICENSE TYPE


Broker

Broker


Less than 49,999 8% 9% 8% 6% 3%

50,000 to 99,999 8 6 10 8 7

100,000 to 249,999 16 15 16 17 15

250,000 to 499,999 15 14 15 17 21

500,000 to 999,999 14 16 12 12 12

1,000,000 to 1,999,999 16 19 13 14 15

2,000,000 to 3,999,999 11 9 13 14 13

4,000,000 or more 13 13 13 11 15

LICENSED AS

All Commercial

Members



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Exhibit 3-24


Broker

Broker


None 15% 13% 17% 23% 4%

1 to 24% 50 52 51 39 57

25 to 49% 15 15 14 18 17

50 to 74% 12 12 7 13 15

75 to 100% 8 8 12 8 7

LICENSED AS

All Commercial

Members

PERSONAL INVESTMENT IN COMMERCIAL REAL ESTATE AS A PERCENTAGE OF PERSONAL INCOME IN 2012, BY

LICENSE TYPE



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Chapter 4

The typical commercial REALTOR is 59 years old. Brokers, broker

associates, and appraisers are the most seasoned among

commercial members, while sales agents have the largest

representation of younger commercial members.

At 78 percent, the majority of commercial members are male.

Thirty-three percent of those with two years or less experience

are women compared with 18 percent of those with 26 years or

more experience. Sales agents have the largest representation of

female practitioners at 29 percent.

Racial and ethnic minorities comprise a small but significant

portion of NAR commercial members. Ninety-one percent of

members identify themselves as White/Caucasian. Asian/PacificIslanders and Latino/Hispanics each account for three percent of

commercial members. Black/African Americans account for two

percent of commercial members.

Thirty-five percent of commercial members have a bachelors

degree, while another 10 percent have completed some graduate

school. Twenty percent have earned a graduate degree.

Seventy-seven percent of commercial REALTORS are married,with 14 percent being divorced, and six percent being single and

never married.



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DEMOGRAPHIC CHARACTERISTICS OF NAR'S COMMERCIAL MEMBERS

Exhibit 4-1 AGE DISTRIBUTION OF NAR'S COMMERCIAL MEMBERS, BY LICENSE TYPE AND GENDER

Exhibit 4-2 GENDER BREAKDOWN OF NAR'S COMMERCIAL MEMBERS

Exhibit 4-3 GENDER BREAKDOWN OF NAR'S COMMERCIAL MEMBERS, BY LICENSE TYPE

Exhibit 4-4Exhibit 4-5 GENDER BREAKDOWN OF NAR'S COMMERCIAL MEMBERS, BY NAR AFFILIATES

Exhibit 4-6 RACIAL AND ETHNIC DISTRIBUTION OF NAR'S COMMERCIAL MEMBERS, BY AGE AND GENDER

Exhibit 4-7 HIGHEST EDUCATION LEVEL OF NAR'S COMMERCIAL MEMBERS

Exhibit 4-8 HIGHEST EDUCATION LEVEL OF NAR'S COMMERCIAL MEMBERS BY LICENSE TYPE

Exhibit 4-9 HIGHEST EDUCATION LEVEL OF NAR'S COMMERCIAL MEMBERS

Exhibit 4-10 MARITAL STATUS OF NAR'S COMMERCIAL MEMBERS

GENDER BREAKDOWN OF NAR'S COMMERCIAL MEMBERS, BY COMMERCIAL REAL ESTATE



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Exhibit 4-1

AGE DISTRIBUTION OF NAR'S COMMERCIAL MEMBERS, BY LICENSE TYPE AND GENDER


Broker

Broker

Associate

Sales

Agent Appraiser Male Female

Under 30 years 2% 1% 3% 2% 1% * *

31 to 35 years 3 2 2 6 3 1 2

36 to 40 years 4 4 3 4 5 3 3

41 to 45 years 5 5 4 6 3 3 4

46 to 50 years 10 9 10 11 7 5 4

51 to 55 years 14 14 11 16 22 9 12

56 to 60 years 21 20 24 20 27 13 18

61 to 65 years 18 20 18 15 20 21 25

66 years and over 23 26 25 20 12 19 14

Median age 59 60 60 57 58 59 58


All

Commercial

Members

Licensed As Gender



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Exhibit 4-2

GENDER BREAKDOWN OF NAR'S COMMERCIAL MEMBERS


Male 78%

Female 22%

All

Commercial

Members

Male, 78%

Female, 22%

GENDER BREAKDOWN OF NAR'S COMMERCIAL MEMBERS




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Exhibit 4-3

GENDER BREAKDOWN OF NAR'S COMMERCIAL MEMBERS, BY LICENSE TYPE


Broker

Broker

Associate

Sales

Agent Appraiser

Male 78% 80% 76% 71% 89%

Female 22 20 24 29 11

All

Commercial

Members

Licensed As



75/85


Exhibit 4-4

GENDER BREAKDOWN OF NAR'S COMMERCIAL MEMBERS, BY COMMERCIAL REAL ESTATE EXPERIENCE


2 years or

less

3 to 5

years

6 to 15

years

16 to 25

years

26 years or

more

Male 78% 67% 73% 73% 77% 82%

Female 22 33 27 27 23 18

All

Commercial

Members


Agent or Broker



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Exhibit 4-5

GENDER BREAKDOWN OF NAR'S COMMERCIAL MEMBERS, BY NAR AFFILIATES


All

Commercial

Members

Counselors

of Real

Estate

(CRE)

Accredited

Land

Consultant

(RLI)

Certified

International

Property

Specialists

(CIPS)

Society of

Industrial

and Office

REALTORS

(SIOR)

Institute of

Real Estate

Management

(IREM)

Certified

Commercial

Investment

Member

(CCIM

Institute)

Not a

member

of any

affiliate

Male 78% 78% 77% 67% 93% 72% 83% 77%

Female 22 22 24 33 8 28 17 24




77/85


Exhibit 4-6

RACIAL AND ETHNIC DISTRIBUTION OF NAR'S COMMERCIAL MEMBERS, BY AGE AND GENDER


39 or

younger 40 to 49 50 to 59

60 or

older Male Female

White/Caucasian 91% 89% 92% 88% 93% 92% 89%

Asian/Pacific

Islander 3 3 5 3 2 2 4

Latino/Hispanic 3 7 4 4 2 2 2

Black/African

American 2 1 * 2 2 3 4American

Indian/Eskimo/Ale

ut

1 * 1 * 1 1 *

Other 2 * * 3 1 1 2


AgeAll

Commercial

Members

Gender



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Exhibit 4-7

HIGHEST EDUCATION LEVEL OF NAR'S COMMERCIAL MEMBERS


High

School 5%

Some

College/

Associates

Degree

31%

Bachelor's

Degree 35%

Graduate

Study 10%

Graduate

Degree 20%

All

Commercial

Members

High School,

5%

Some

College/Associates

Degree, 31%

Bachelor's

Degree, 35%

Graduate

Study, 10%

Graduate

Degree, 20%

HIGHEST EDUCATION LEVEL OF NAR'S COMMERCIAL

MEMBERS




79/85


Exhibit 4-8

HIGHEST EDUCATION LEVEL OF NAR'S COMMERCIAL MEMBERS BY LICENSE TYPE


Broker

Broker

Associate

Sales

Agent Appraiser

High School 5% 5% 5% 5% 4%

Some College/

Associates Degree

31 30 30 36 21

Bachelor's Degree 35 32 37 36 49

Graduate Study 10 10 11 8 14

Graduate Degree 20 23 17 16 13

All

Commercial

Members

Licensed As



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Exhibit 4-9

HIGHEST EDUCATION LEVEL OF NAR'S COMMERCIAL MEMBERS


All

Commercial

Members

Counselors

of Real

Estate (CRE)

Accredited

Land

Consultant

(RLI)

Certified

International

Property

Specialists

(CIPS)

Society of

Industrial and

Office

REALTORS

(SIOR)

Institute of

Real Estate

Management

(IREM)

Certified

Commercial

Investment

Member (CCIM

Institute)

Not a

member of

any

affiliate

High School 5% * 6% 7% 6% 4% 4% 5%

Some College/

Associates Degree

31 35 24 28 13 23 25 34

Bachelor's Degree 35 30 40 25 39 33 36 35

Graduate Study 10 13 8 6 15 9 13 9

Graduate Degree 20 22 22 34 28 32 22 18





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Exhibit 4-10

MARITAL STATUS OF NAR'S COMMERCIAL MEMBERS


Married 77%

Single (never

married) 6%

Divorced 14%

Widowed 2%

Other 1%

All

Commercial

Members

Married, 77%

Single (never

married), 6%

Divorced, 14%

Widowed, 2%Other, 1%

MARITAL STATUS OF NAR'S COMMERCIAL MEMBERS




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Methodology

In February 2013, NAR invited a random sample of 42,169

REALTORS with an interest in commercial real estate to fill out an

online survey. A total of 1,796 responses were received for an

overall response rate of 4.3 percent. All information in this reportis representative of member characteristics in 2013 while sales

and lease transaction values and income are characteristic of

calendar year 2012.

The NATIONAL ASSOCIATION OF REALTORS is committed to equal

opportunity in the real estate industry. In accordance with this

commitment, racial and ethnic information was collected and

included in this report.

The primary measure of central tendency used throughout this

report is the median the middle point in the distribution of

responses to a particular question or, equivalently, the point at

which half of the responses are above and below a particular

value.



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The NATIONAL ASSOCIATION OF REALTORS, The Voice for Real

Estate, is Americas largest trade association, representing 1

million members, including NARs institutes, societies and

councils, involved in all aspects of the real estate industry. NAR

membership includes brokers, sales people, property managers,

appraisers, counselors and others engaged in both residential and

commercial real estate.

The term REALTOR is a registered collective membership mark

that identifies a real estate professional who is a member of the

NATIONAL ASSOCIATION OF REALTORS and subscribes to its

strict Code of Ethics.

Working for America's property owners, the National Association

provides a facility for professional development, research and

exchange of information among its members and to the publicand government for the purpose of preserving the free enterprise

system and the right to own real property.

NATIONAL ASSOCIATION OF REALTORS

COMMERCIAL REAL ESTATE DIVISION

NAR Commercial represents the collective commercial real estate

constituencies of NAR, including the affiliated commercialmembers the CCIM Institute, the Counselors of Real Estate

(CRE), the Institute of Real Estate Management (IREM), the

REALTORS Land Institute (RLI), and the Society of Industrial and

Office REALTORS (SIOR). NAR Commercial works to serve the

needs of our commercial practitioner members and the

commercial real estate industry through the development of

valuable products and services, technology initiatives, public

policy advocacy, education, research and legal analysis.

www.REALTOR.org/Commercial

www.CommercialSearch.com

NATIONAL ASSOCIATION OF REALTORS

430 North Michigan Avenue

Chicago, IL 60611- 4087

1-800-874-6500

Web site: www.REALTOR.org



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Affiliated Commercial Members

CCIM Institute (CCIM)

The CCIM Institute has conferred the Certified CommercialInvestment Member (CCIM) designation since 1969. Professional

experience requirements ensure that a CCIM is skilled in both

theory and practice. The Institute stresses education, networking

and ethical practice. Contact CCIM at 312-321-4460 or at

www.ccim.com

Counselors of Real Estate (CRE)

The Counselors of Real Estate is an international network of

commercial practitioners who provide advice to clients on

complex real property situations and land-related issues. CRE

designated members hold prominent positions in real estate,

financial, legal and accounting firms, as well as in government and

academia. Membership is extended by invitation only on either a

sponsored or self-initiated basis. Contact CRE at 312-329-8427 or

at www.cre.org

Institute of Real Estate Management (IREM)

The Institute of Real Estate Management provides training,

information, research, analysis and practical advice for those whomanage income-producing real estate of all types at all career

levels. The Institute awards designations of Certified Property

Manager (CPM), the Accredited Residential Manager and the

Accredited Management Organization (ARO). Contact IREM at

312-329-6000 or at www.irem.org.

http://www.irem.org/http://www.irem.org/


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Affiliated Commercial Members

REALTORS Land Institute (RLI)

As recognized experts in land, RLI members specialize in farmsand ranches; undeveloped tracts of land; transitional and

development land; subdivision and wholesaling of lots; and site

selection and assemblage. RLI has awarded the Accredited Land

Consultation (ALC) designation to a select group of over 1,000

land specialists since 1944. Contact RLI at 312-329-8446 or at

www.rliland.com

Society of Industrial and Office REALTORS (SIOR)

The Society awards the SIOR (Specialist, Industrial & Office Real

Estate) designation to brokerage specialists who meet its strict

experience, transaction, education and ethical standards.

Recipients of this designation are recognized within the

commercial brokerage industry as the most experienced and

capable practitioners. One of the leading commercial and

industrial real estate associations, the

Society has 2,300 members in 450 cities in 20 countries. Contact

SIOR at 202-449-8200 or at www.sior.com

2013 Commercial Member Profile

Documents