Thursday, April 26, 2007
Thinning the herd
In the past few years, the number of real estate sales agents has grown astronomically since the market started to pick up steam in 1997. Consider these numbers. In 1997, there were 716,078 agents who were members of the National Association of Realtors. In 2006, that number had skyrocketed to 1.36 million, an 89.6 percent hike.
Like the market itself, the growth and decline in the number of real estate agents is cyclical. With the recent correction in the real estate market, the number of agents is going down. The NAR is projecting a drop of 4.3 percent this year and another drop of 10 percent the following year. After that shakes out, there will be about 1.17 million agents nationwide.
Like the market itself, the growth and decline in the number of real estate agents is cyclical. With the recent correction in the real estate market, the number of agents is going down. The NAR is projecting a drop of 4.3 percent this year and another drop of 10 percent the following year. After that shakes out, there will be about 1.17 million agents nationwide.
