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THE RANKS OF REAL ESTATE
AGENTS CONTINUE TO GROW IN SPITE
OF NEW TECHNOLOGIES AND A SKETCHY ECONOMY.
Believe it or
not, there are over 900,000 dues-paying members
of The National Association of Realtors, an INCREASE
of over 200,000 members in three years (San Jose
Mercury News, February 27th 2004, Sec. G). |
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This
increase has baffled industry experts,
who incorrectly assumed that consumer-friendly
technological advances such as contend
that the increase is partially due to
folks becoming agents in the wake of
losing other jobs in this turbulent economy.
John
Tuccillo, former chief economist with
the Realtors group, had the following
observation: “You can explain
what is happening now very easily…when
people lose their jobs, becoming a real
estate agent and selling $5,000,000 properties
looks attractive” (San Jose Mercury
News, February 7th 2004 – "People Are
Jumping INTO, Rather Than AWAY From Real
Estate Sales As A Career")
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A 50+-year-old
female, homeowner, educated past high school who is affiliated with a
non-franchised real estate firm. This agent e-mails clients frequently,
maintains a certain independence from the firm she works for and makes
about $52,000 a year.
According to data compiled
by The National Association of Realtors, only about 6% of current members
work full time selling properties, and this is not necessarily a good
thing.
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Besides
robbing real estate sales of a certain level of
professionalism, part-time agents help heighten
the myth that selling homes is a quick, simple
way to earn extra income, according to Philadelphia-based
super agent Christopher J. Artur, who has been
in the business since he was a Penn State student
in 1976.
According to Artur, “(part-time
work) doesn't send a great message to consumers. (This
profession) has to be more than part-time, especially
when you deal with first time home buyers who need
face-to-face and accessibility all the time.” Artur
further notes that the realtor ranks are becoming
more diverse, with more minorities entering the
field as minority populations continue to grow
around the state.
90%
White, with Black, Hispanic and Asian individuals making
up the other 10%. In
1970, over 80% of agents were men; in 2003 52% of
agents were women. For
the first time since 1984, the median age of agents declined
from 50 to 49. However, most agents are still
55+ years of age. Nearly 25% of realtors make
gross over $100,000 annually from selling properties;
this is up from only 10% in 1996. And, as one
might expect, the longer an agent has been selling, the
more they tend to make. The numbers seem
to indicate that age and experience count.
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For any questions
or comments contact:
Barry
Brady
Direct: 408-201-0160 : Mobile: 408-623-1192 :
Fax: 408-273-6927
E-mail: BBrady@InteroRealEstate.com
Intero
Real Estate Services
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18600
Castle Ridge
Drive
Morgan Hill, CA 95037
  
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