Agents are making more money despite the tough market 

While persistent real estate agents are finding success in a slow market, concern for the future is growing as several potential headwinds threaten to make their jobs even more difficult.

Redfin's latest industry survey found that most agents earned more money in 2024. The biggest jump was among agents making six figures: The percentage of those earning between $100,000 and $200,000 increased from 14% in 2023 to 19% in 2024.

The survey, which involved 500 non-Redfin agents who closed at least one deal in 2024, also found an uptick in completed transactions. The share of agents who closed five to nine deals increased from 19% in 2023 to 27% last year, while the share that closed 10-19 transactions jumped from 26% to 30% — and 15% of agents closed at least 20.

"Performance improvements are likely a reflection of fewer new agents entering the industry," said Jason Aleem, Redfin's chief of real estate services and the author of the survey. "Those agents who've made it through the rollercoaster ride of the past few years are the type of agents who can overcome challenges and thrive." 

That's not to suggest that this isn't a difficult market overall. The survey also found that, as in 2023, more than one-third of agents had a second job to boost their income.

Agents face more fee negotiations, express support for Clear Cooperation

In the aftermath of NAR's $418 million settlement, 51.2% of agents surveyed suspected commissions would decline over the next 12 months, though 56.8% said the settlement changes did not have "much" impact on their business. However, more than half (54.4%) noticed an uptick in commission negotiations, while only 6.2% reported a decline in haggling.

When it came to the Clear Cooperation debate, 74.8% of agents surveyed said withholding a listing from the MLS "is rarely in the best interest of the seller." A huge majority (88%) said they "personally recommend marketing all listings in the MLS," while only 11.2% wanted CCP eliminated.

NAR made its long-awaited decision on the controversial policy's future last week when it announced that the CCP will remain with the addition of a "delayed marketing" option.

A tough career to recommend

The answers to one survey question spoke volumes about the difficulties agents are facing. When asked if they would recommend real estate as a career, nearly half (49.8%) said they were unlikely to do so, while 21.2% said they would — the lowest net score of the four agent surveys Redfin has conducted since 2019.

"The fact that agents surveyed are increasingly less likely to recommend their career to others is at once concerning and encouraging," Aleem wrote in the report. "We need to figure out how to make real estate a sustainable and fulfilling career and be honest about whether we as brokerage leaders are creating compelling reasons to stay. And at the same time, we should get comfortable with the fact that some agents just aren't committed to the right things — and if that's the case, it's okay to leave."

The top three career drawbacks agents identified were income unpredictability (with 42.6% declaring this a major issue), the difficulty of building their business (37.8%) and dealing with rude or unprofessional agents (27.8%). On the flip side, agents identified the ability to be their own boss, help others whose lives are in transition and build customer relationships as appealing aspects of their work.

Many agents also expressed confidence about their ability to sell homes in 2025. Slightly more than half (50.4%) said they believe sales will rise in their market, up from 48.4% a year ago. Only 8.2% believed home sales would fall, down from 14.2% in 2024.

Economic concerns loom large

Despite their confidence about future sales, many agents had larger concerns, with respondents roughly split in their views on the state of the U.S. economy and the impact of climate change on insurance costs. Nearly half encountered more problems with home insurance in 2024 compared to the previous year — an issue that nearly 3 in 4 agents faced in California and Florida.

Agents also reported an uptick in discrimination, with more than 22% saying they experienced sexism in 2024 (up from 18% in 2023) and 38% saying they experienced racial discrimination (up from 32%).