Realtors® specializing in commercial real estate experienced a slowdown in sales transaction volume in 2008, but also reported an increase in commercial leasing volume, according to the 2009 National Association of Realtors® Commercial Member Profile.

The study's results represent Realtors® who practice commercial real estate; these Realtors® comprise more than 81,000 of NAR's 1.2 million members. The survey shows that the median sales volume in 2008 was down nearly 10 percent since 2006, resulting in a 13.6 percent decline in median income. However; the results also showed a 33 percent increase in commercial leasing volume during the same two-year period.

Realtors® Commercial Alliance Committee chair Robert Toothaker said that, despite the fact that commercial real estate activity has suffered, the typical NAR commercial member was doing slightly better than might be expected. "Because most of our members are involved in transactions of under $5 million, the decline in business was not quite as sharp as the drop in investment-grade transactions," he said. "The flow of funds from regional banks hasn't slowed as dramatically, leaving some credit available for commercial transactions; however, credit has tightened further in 2009, and continues to curtail commercial real estate lending activity. NAR continues to advocate on behalf of its commercial members to increase liquidity to commercial real estate and ensure overall economic recovery."

The median number of transactions for Realtors® practicing commercial real estate in 2008 was eight, unchanged from 2006. Transaction volume for commercial members was $2,024,900 in 2008, down from $2,248,700 in 2006. Sixty-five percent reported a volume greater than $1 million; and nearly a quarter had a transaction volume of $50 million or more in 2008. Leasing volume for commercial members in 2008 was $244,300, slightly higher than the $183,600 reported in 2006.

The median income in 2008 was $99,900, down from $115,600 in 2006. Brokers earned a median of $129,500, while sales agents earned $70,100. Commercial members in the business for two years or less earned a median of $30,200, while those with three to five years of experience earned $63,700. For six to 15 years, the median was $94,700, while members in the business for 16 years or more earned $147,700.

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