Illinois announces there are 22.3% less Realtors® throughout the state!

But is that a good thing?  Was this 4 year process really illinois realtors,lyn sims,going to be good for consumers or just a giant revenue generator for the State of IL?

The IDFPR kept saying that extra training was really the effort in this entire 4 year process for license escalation.  In IL now, all agents must be brokers or transition to managing broker status with this last license renewal.

"According to the IDFPR, there were 69,228 licensees on April 30, 2011. At the close of processing, the agency said there were 53,785 licensees. Regulators said they had expected about a 20 percent decrease in the overall number of licensees. The decrease released Tuesday amounts to 15,443 fewer licensees overall."


Personally, I feel this is a good thing for consumers and agents throughout the state but one little problem with that is going to be evident shortly.  With that many less agents, I expect the Illinois Association of Realtors and our other local associations to raise fees to keep themselves afloat.  Instead of some possible belt tightening on an already inflated and bloated budget, they will just turn to the remaining members.

Yep, be ready for them to insert their hands into your wallet.  I've already received a notice that our local board (MOR) is going to raise the dues (but we haven't since? well.... I guess last year?) this 6 month billing period.  

But it's good for the consumer they yelled!  Yeah, right.

 
 

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Star Posted by Lyn Sims - Schaumburg Homes on 08/09/2012 04:40 PM   Comments (29)   in the ActiveRain Channel   illinois realtors  
Originally posted at: RealEstateConsumerInfo.com: Illinois announces there are 22% less Realtors® throughout the State!
Short URL: http://actvra.in/G8t
This post has been included in Illinois Real Estate News Cook County, IL Real Estate News Hoffman Estates, IL Real Estate News
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29 Comments on Illinois announces there are 22% less Realtors® throughout the State!

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AUG
09
1,028,817 Points 238 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Lyn- it would be interesting to have a good figure on just how many full time working Realtors left as a result of the economy. 
9:01pm • #10
758,607 Points 105 Featured Posts Outside Blog Called Shot Master

Not surprised that happened. Not everyone wants to be a broker. The agents who are actively working will make the change but those who really aren't working are going to finally walk away.
9:55pm • #11
1,113,874 Points 101 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I'm not clear if you mean Realtors only or licensees in your state.  My state has about 40% less membership in GAR and NAR and local board of Realtors, but only 10% less licensees in the state.  You say Realtors, but your posts leads me to believe you actually mean all licensees in your state.
10:26pm • #12
793,627 Points 5 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

We are seeing similar changes here in California, especially in Silicon Valley. This year about 30% fewer agents renewed their MLS dues, subscriptions & memberships-and here you can't access homes without them.
11:18pm • #13
466,050 Points 50 Featured Posts Called Shot Master

I don't what the figure rates are in my area, but there are agents who've left the business.
11:49pm • #14
AUG
10
492,590 Points 29 Featured Posts Outside Blog Called Shot Master

Every industry has its time. Many of the folks that are no longer in the business, shouldn't be in it, maybe should never have been in it.

On the mortgage side, 90% less since 2006.
3:15am • #15
1,049,931 Points 284 Featured Posts Outside Blog Called Shot Master

Lyn, Even without any push to be brokers in Ohio I'd bet our numbers have dropped significantly over the last few years.  I don't know of any easy way to find out what that number is, but it's got to be significantly less.  They'll be back as soon as the pickings are easy again.
5:15am • #16
1,419,334 Points 41 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

And most likely the majority of these agents do not complete over 5 transactions in one year. .
6:13am • #17
700,275 Points 39 Featured Posts Outside Blog Called Shot Master

Tammy:  Total less agents in the entire state.  The IAR is something like 16% down from last year.  I have both figures.

 

J & R:  That would be nice & a good point. With less agents there should be less staff right?

Erv:  You're funny. I can't even remember when they 'held the line'.

Debbie:  I hope not but if they don't reduce their costs with the lesser amount of agents, that's what is going to happen.

Marie:  Almost a 1/4 so who's making up that deficit?

Andrew:  That could be true.

Joan:  I'm going to keep my wallet shut.

Melissa:  We have actually waited for these results since the end of April when all the licenses were due.  I'm sure that the mandatory broker change also had a small amount of people that didn't want to make the change.

Michelle:  Then they are out of the business.  You can still be an independant here & join the MLS seperate.

Pamela:  I'm sure you will be surprised.

 
6:16am • #18
649,004 Points 70 Featured Posts Outside Blog Called Shot Master

That is quite a drop off in numbers!  Personally, I'm okay having less agents and paying a little more in local fees.  Let the cream rise to the top.  
6:40am • #19
877,786 Points 223 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I saw that... that's shaking the tree, isn't it?
6:52am • #20
729,206 Points 15 Featured Posts Outside Blog Called Shot Master

Lyn, that is a significant drop in licensees. I think you will get hit from both ends the local association and the state real estate commission. Having to get a brokers license may have scared them off.
6:53am • #21
484,443 Points 51 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Lyn - we're Both in the Chicago area, but we have not (in the North Shore area) seen much of a drop-off.  In fact, I think our little area has possibly increased . . .
7:27am • #22
858,303 Points 174 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

As long as the fees don't rise, then this is good for the remaining agents.  We need fewer agents, the ones who perform, rather than more.
8:37am • #23
496,112 Points 149 Featured Posts Outside Blog Hit Router Called Shot Master

Lyn:  I agree there is good in it ... and bad.  And you pretty much summed it all up in your last sentence.  It's all about the consumer, right??  

Gene
8:51am • #24
311,866 Points 20 Featured Posts Outside Blog Called Shot Master

I think it's terrific when the supply goes down.  I wish 1/2 of our realtors would leave.  Of course I mean the bad half, lol.  I have even suggested to our board to raise the dues to $5,000 a year to weed out the bad ones.
9:08am • #25
700,275 Points 39 Featured Posts Outside Blog Called Shot Master

Margaret:  Interesting.

Alan:  You bet!  Over 20% is a good shaking all right.

Christiansens:  You say that until you will receive a $2000 a year dues notice.  I think that if there are that many less agents - costs should be trimmed that amount.  After all 1/4 of the membership is now gone.

Michael:  That's what they think.  I've always had a brokers license so it really didn't effect me.  I didn't upgrade so to speak.

Bryan:  More of the agents perform instead of the top 5% or whatever that number is?

Gene:  I don't know - that's what they said it was for but there are rumblings that revenue was really the impetus behind this.  I'm sure it did help weed out the agents that weren't really serious but the entire massive project really cost the state (us) alot of money.  Everyone in the state had to be recertified actually within those 2 years.

Chris & Dick:  Check your numbers lol!
10:05am • #26
547,229 Points 9 Featured Posts Outside Blog Called Shot Master

Lyn:

Fewer agents means higher fees.  That has been the case since I have been in real estate. 

2:02pm • #27
AUG
11
413,687 Points 88 Featured Posts Localism Sponsor Outside Blog Called Shot Master

I wonder how many of the 22% had their license hung? Do you know if MoRE lost membership? I think RAFV has been declining steadily. I don't know if people were migrating to MoRE or just aren't seeing the value in the boards or if there really are fewer agents overall in the area.

I think I read that IAR is going up $50 because of the decline in licencees. Couldn't they just cut services instead? Since I've never been sure what they do anyways, not sure that it would matter. 
7:09am • #28
700,275 Points 39 Featured Posts Outside Blog Called Shot Master

Leslie:  Don't know how many were actually practicing. Since we just had this merger I'm not sure how many agents or areas MOR services.  I think that was actually one of the reasons that the 'blending' happened to combine services & eliminate some others.  I can't see how the system can continue with 20% less members with the same operating budget currently.  So that means?

I think that all the different sections of our bills get placed together so that people don't complain.  Boards have always said - Let's make it easy with just one quick payment!  Yeah right.

Evelyn:  When I first started many years ago there were less agents, then more agents & the fees never went down EVER!  Twice the membership over 10 years & still no one held the line - just increases.
7:42am • #29

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Lyn Sims - Schaumburg Homes

Schaumburg, IL

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