Question Details

John Souerbry, Real Estate Pro in Fairfield, CA

As buyers increase, are more agents entering the business?

Asked by John Souerbry, Fairfield, CA Fri Dec 10, 2010

Historically, when property values/prices increase, so do the number of people seeking employment as agents. Are there more agents in your market than there were a few months ago?

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In my circle, for every one agent that comes on board, we're losing 3-4. For those of us that look at this as a lifetime profession, we are hanging in there and doing what we have to in order to hang on. When the going gets tough, the tough get......well, you know.
0 votes Thank Flag Link Fri Dec 10, 2010
Uh....NO?! I understand the CA market is quite a bit different than where I live but I would say this question is WAY premature as it relates to most markets. I know agents who made 6 figures a few years ago who now have side jobs as it is their only source of income and they are close to poverty level.

The issue, at least in my neck of the woods, is few buyers and the ones that are looking are indecisive and taking their time. There is not a steady stream of qualified buyers who are snatching houses up at a rate quick enough to put food on many agents' tables.

Still, even with fewer agents than there were in the crazy inflating bubble days, there's too many.
1 vote Thank Flag Link Fri Dec 10, 2010
The local agents I've spoken to seem to think the number of agents in the area are down. In fact, many of those agents claim to be having the best year of their career and attribute part of that to there being less agents to go around.

Also, recrutiers at local firms that I know claim that the real estate class provider's classrooms haven't been full lately.

Good Luck!
0 votes Thank Flag Link Sun Dec 12, 2010
Yes, John,

I have heard of quite a number of agents that have filed bankruptcy; sold their homes; downsized; rented out their homes and some that even lost their homes. I myself had a double whammy when my husband's hours were cut by two thirds. Thank God we have been in our home for 25 years and had enough equity to refinance!

On a lighter note, I am seeing an upswing here in Wisconsin and I am looking forward to a prosperous New Year!

Signed,
Working much harder for much less, but STILL WORKING!
0 votes Thank Flag Link Sun Dec 12, 2010
In my market we're seeing the standard real estate merry-go-round, about 80% of agents fail in their first year and either become part-timers or quit altogether. But it's always been like that. I do, however, know big name agents who are trading in their leased Bentleys for something a little more "affordable." Yet, the newbies continue to arrive with smiling faces and a shoeshine hoping to cash in on the real estate bonanza, when it arrives...
0 votes Thank Flag Link Sun Dec 12, 2010
We have not seen more agents enter the business in our market, in fact the opposite. Many long time agents have decided to exit the business and it is expected since dues must be paid by the end of the year that there may be others who decide to leave as well.
0 votes Thank Flag Link Sat Dec 11, 2010
Hi John,

Thank you for posting your question.

I have to admit that I am not too familiar with California's real estate markets.
Here in Middlesex County, NJ we have seen a drastic decrease in buying interest and sales. To give you an idea, the number of homes sold in November was almost 50% less than the number of homes sold same month (November) last year. This decrease started in July after the expiration of the tax credit.
From a price perspective, we are down about 10% versus last month and down about 5% versus November 2009.
From my personal experience, yes there are always new agents entering the business but many more who are still leaving or looking for additional jobs/income...
0 votes Thank Flag Link Fri Dec 10, 2010
In Brevard County, FL member dues are due by the end of this month.
This'll effect the # of agents big time!
Web Reference: http://www.321property.com
0 votes Thank Flag Link Fri Dec 10, 2010
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