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Congress & Governors: Provide financial relief for real estate professionals
The number of confirmed COVID-19 (“Coronavirus”) cases continues to rise rapidly, with social and economic repercussions becoming more evident and more pronounced. Given that economic uncertainty and expected job losses will likely reduce demand for homes and place downward pressure on home prices, the impact on the real estate industry is unknown.
This rapidly changing situation is leaving real estate agents and brokers with a host of questions and no clear answers on the long-term effect on their livelihood. According to the National Association of Realtors, there are roughly 2 million real estate agents in America. The gross income of the median agent is roughly $41,800 per year — before taxes, health insurance, and other expenses.
As one of the few professions that truly reflect the diversity of the communities we live in:
- ⅔ of real estate agents are women, making it one of the largest female-led industries in our country
- 63% of agents are over 50 years old
- 70% of real estate agents volunteer in their communities