Sue & Terry-Our real estate license doesn't cost a lot to renew, however, all of our fees associated with selling add up.  Many of us have desk fees, board dues, my E&O insurance costs nearly $600 a year, and then comes the marketing costs.  I think that is why we have seen many agents this year in our market put their license in holding.

Let them go, there were 1.4 million realtors last year wich is probably 600K more than there should be.  In NJ I have heard that consistantly 66% of the Realtors do no business in a given year.

Laura: That's true.  Although, I believe most states have opportunities for an agent to keep their license in a part time or inactive state temporarily for a nominal fee. 

James:  I know... Many agents feel that way... And let's face it, there are many agents keeping their licenses that we all wish would give them up.  :)

This is a good, well thought out post, thank you.

I especially like the part about the "part-time realtor"...as I started that way I too believe that if you are going to make that commitment that you MUST be responsible.

Like I joke with my clients, I am staying in the business, but I am keeping my application at Burger King current... LOL!

Jeffery:  Thank you... We know some great part-time Realtors, and a few not so great.  It's a numbers game!  :)

Emily:  Now that's funny!  Thanks for stopping by.

I couldn't agree with you more!  All it really takes is one, possibly two sales to break even for the year and that should cover basically EVERYTHING!  Now, if you can't even sell one or two homes a year, then maybe you shouldn't renew!

Interesting topic, glad you are a member of the abundance club.......where everything comes in abundance and there is enough for everyone......I think this could cause some interesting comments especially if we can get someone to disagree.

Anybody who has been through the huge hassle of getting a license all over again because they let their license lapse knows that it's better to stay in the game.

Michael:  That's a good point.  If someone knows their heart isn't in it, or that they can't cover their expenses - then they really should not renew.  Thanks.

Ryan:  It's not about abundance or the "haves and the have nots" in my opinion.  It's about encouraging those who don't want to give up to live to fight another day... and giving them a few good reasons why we think they should.

Eric:  Exactly.  We just got licensed in Idaho after being licensed in Nevada for 18 years.  I wouldn't wish this on ANYONE... It's BRUTAL!!   :)

I'm going to be in the minority when I say that if you can't sell at least one home every two months, you probably don't deserve to be in the real estate business and should get out.

Elizabeth:  I don't disagree.  Although I would hate to see some of these agents be a victim to the market in the sense that they hadn't had the opportunity to spread their wings  before the sky began to fall.

I really think many agents who are giving up their licenses should have never been in the business to begin with. Real Estate is not a hobby. It is not a sales job. It is a lead-generation business. If you can't learn how to effectively lead generate, all while keeping your costs down, you will never make it! If you don't treat it like a business, you will never make it!

Once you get the leads, you better learn how to interact with all personality types. I see so many new agents in my office with high hopes of making that first sale. The large majority should find a different line of work. I see agents gathering around the water cooler chit chatting, rather than doing lead generation. I see agents who are on up-time playing solitaire on the office computer, rather than designing a new marketing piece for their business.

I say, let 'em go. There is more business for the rest of us.

Linda:  Very well said.  We probably should have clarified our views a little more.  We're not suggesting that the water cooler gossipers renew because let's face it, they've never done much business before & probably won't in the future. 

This was more to encourage those that are newer to the industry that never had an opportunity to build their business before the bottom fell out.  Thank you for your candid response.  It was quite accurate.

I like the quote, got to write it down.

Bart:  Yes, it is a great quote indeed.  The key is to remember to be grateful without becoming complacent.