Consider these anecdotal phenomena and try to figure the rationale:
I just received a call from a prospective agent who sat this morning for his California real estate exam. The testing was done at the San Diego Convention Center and there were approximately 400 people sitting for the licensing exam.
It appears a flood of new agents are entering the market when sales are off 25 percent, and many agents are playing musical chairs by switching firms (thinking that will make a difference?). It was a puzzle to me.
I called the Department of Real Estate in San Diego, and was told that testing sites are still full, but backlog has been cut from an 8-week wait to 4 weeks.
Funny, but I would have expected a stronger decline in licensing.....
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