So, with the number of sales down over 70% from the peak of 2006, what are many of the Realtors (agents) that are not selling real estate doing now? There was that cheeky article about Wall Street and Real Estate brokers dancing at Gentlemens Clubs in the NYPost a while back, but I haven’t heard, nor seen any of my colleagues doing that. But there’s a research project I might take on…
National Association of Realtors membership is down, nearly 20% from the 2006 peak. That being said, we really don’t know how many agents are still in the business and just not members, saving the $300 -$500 annual dues, or how many agents have paid their dues just to stay connected but aren’t really working the business.
It’s safe to say that the 80/20 rule applies here, too – only I sense the rule has gone to 90/10 in the last two years. I think that 10% of the agents are doing 90% of the business today. You can see those walking around with dazed eyes, looking for a park bench or a bargain at TJMaxx compared to those who are on the ball, working with motivated sellers and buyers, REO’s, short sales (the absolute WORST) and just basically making their own business. Or, some of us are getting into new business models.
Some recent membership numbers below. Don’t be suprised to see it drop another 10% in 2009/10.
These numbers are year…………#of Associations……………# of Realtors
see the complete chart, starting in 1908 here
see this complete report, covering the US here
See the Inman News report – Life After Real Estate here