Albany NY Realtor Ranks expected to decline

Well its about time. The Greater Capital Region Association of Realtors expects up to a 15 percent decline in the number of licensed Realtors in the Capital Region according to a recent article published in the Business Review. Currently there are 3,500+- Realtors in the Capital Region. This is simply too many Realtors. In 2008 roughly 8,000+- homes were sold in the Capital region. Since each sale generally has a listing and selling agent, this equates to roughly 16,000+- sides. It averages out to less then 5+- home sales per agent on average which is close to the national average of only 6 homes sales per agent per year.  As in any industry the top performers do the bulk of the business. The top 100 agents in Albany sold just over 27% of the homes in 2008 as of today according to the Capital Region Multiple Listing Service. The reduction in the number of Realtors in the Capital region will weed out the worst performers and be good for consumers. If you are considering hiring a Realtor be sure they are in the top 100 agents in the Capital Region or they may not be around next year!  If you have questions visit me on line at Albany NY Real Estate