Real Estate Blog - How many real estate agents are left in this market?

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How many real estate agents are left in this market?

How many real estate agents are left in this market? Seriously...how many agents who were licensed agents still hold a license in their state and have hung out throught this current debacle?

According to statistics in Florida, we've lost almost more than half of the agents in the last 3 years, then again...there were 60 in the new Gold Coast class.

Why does this matter?

Do you want an experienced agent?

Do you want a "so called" experienced "short sale agent" because they took a class or do you want a seasoned agent who understands your situation.

What puzzles me is, new agents who have titles such as "Short sale expert," "Foreclosure expert,"
REO expert," and they have never sold a single piece of property.

Who do you want to represent you as a customer? A Real Estate agent with a few years of experience or a new agent calling themself a specialist, just because they took a class?

Agents who have experience can certainly handle the new wave of real estate transactions...they have become educated on short sales and foreclosures and REO's (bank owned properties).

WHO DO YOU WANT TO REPRESENT YOU? A SEASONED AGENT OR NOT? WHAT ARE YOUR OPINIONS ON THIS...???

Posted by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! on 09/22/2009 09:13 PM

Comments (13)

Short Sale Specialist, Seasoned Agents vs Newbies in the ActiveRain Channel

karen monsour, fort lauderdale, pompano beach, lighthouse point, agents, situations, short sales, foreclosures

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13 Comments on How many real estate agents are left in this market?

SEP

To be quite honest, most of the seasoned agents steer away from short sales.

They have such a well-acomplished, hard-earned database that they do not need to subject themselves to that.

I'm actually glad to see alot of the get-rich-quick and fly-by-night agents leave the business because I don't like having them on the other end of my transaction because they're more apt to screw it up!!

Ralph,

Love your remarks because I totally agree with you. You are so right on with your response! Thanks for the support my friend!

Ralph,

I would have to agree. I'm a new Agent. I've been licensed since December of last year. I recently became full time on the 1st of September. Right now, I'm in the process of learning all of the basics so I won't be considered a fly by night agent. I want to have a good a reputation.

Karen - This is a great question. A lot of agents have left the business and I wonder how many new agents are getting into it.

Keith,

With a third of the market in short sale status, unless you have a great line of cash buyers in your network, you are going to have buyers looking for that great deal...and it might be a short sale...I suggest REO's myself or a reasonable seller.

Michelle,

There were about 60 newbies in the last class at Gold Coast in the new sales associates class.

Not that many considering there were over 100 in my class 5 years ago.

Then again, when they realize the cost of being an agent...(I had a discussion with an agent I was trying to recruit to m office today...$2 grand...) it is not cheap....you have to be passionate, and you need to have some funds saved for the insurance, MLX, etc...

Karen,

I currently have 3 REO listings/2 retail listings. And I'm working with 3 buyers right now. I know I will have good days/bad days but I'm up to the challenge.

Keith,

Keep that good attitude going. That is what keeps great agent staying in this troubled market!

Karen,

I'm hungry! I already have my goals set for 2010. And I look at them every morning on my bathroom mirror! I told my Broker that I'm going to be a force to be reckoned with!

SEP

Thought provoking post Karen.I agree with Ralph concerning short sales; I show them but it is a dollars worth of aggravation for a penny or two of profit from time to time (And everyone, except the bank, gets aggravated).

The short sale expert is the one who has a market full of about to be foreclosures. The agent has no choice but to get them sold because that is the local market. Hopefully, if the agent is still in the business, he will be an expert after dealing with those great bankers in a consistent, prompt and helpful manner (Yea; right)!

Robert,

Many of the agents in my office skip right over them as you are so spot on with the "dollars worth of aggravation for a penny or two of profit" statement!

Keith,

I am too, next year is going to be great! We here in SE Florida have gone from 26 months of inventory in January of this year to 10.4 months as of August. New load of REO's, where are they?

We're bored with the stuff that is just sitting there, either overpriced, or overpriced...yes, I meant to repeat myself!

SEP

Karen,

I also have a business where I remove trash/debris from foreclosed properties. This particular business carries me in between the time I'm helping someone sell their home or I'm helping an individual buy a home. It's easy money!

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