Real estate agents say they are holding their ground, their expenses say otherwise

19% vs. 1.9%: This is the number nobody’s talking about. That’s not a typo. According to NAR’s 2026 Member Profile, median agent business expenses rose 19% to $9,530, up from $8,010. Median gross income rose 1.9% to $59,200, up from $58,100. Costs are growing 10 times faster than income, and almost no one is saying so out loud. The story everyone else is telling The prevailing narrative is that Realtors are “holding their ground.” The evidence is real. Membership stands at roughly 1.44 million, down only slightly from 1.46 million a year ago. Veteran agents with 16 or more years in the business report median gross income of $88,500. Repeat business now accounts for 28% of the typical agent’s book, up from 20% the year before. All true. All beside the point. The real story is what it costs agents to hold that ground. Vehicle costs remain the largest expense, and the technology stack agents now treat as table stakes, from MLS software to CRMs to e-signature platforms, keeps growing. Expenses are climbing at a pace income isn’t close to matching. That pressure is sitting quietly inside every agent’s P&L right now, whether or not they’ve said it to you directly. Look at how they’re...