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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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