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We Are Up To Our Ears With Real Estate Agents?

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Real Estate Agent with Fredericksburg Realty, Inc.

Just finished writing a blog on another real estate blogsite  and I think you may find it ineresting.  It takes a few minutes to get that blog published so I hope it is done by the time you want to read it.

Our geographic area of Fredericksburg VA (which includes the City of Fredericksburg VA, Spotsylvania County, Stafford County, King George County, and Caroline County, is growing at an alarming rate.  As you might expect, the number of real estate agents and brokers is growing disproportionately fast as well.

Our little historic region has about 1800 members in the Fredericksburg Area Association of Realtors®.  Thought that the number would decrease with the market slowdown we are experiencing but no appreciable difference has been discernable thus far.

You might like to take a look at the figures presented here to get an appreciation for we are up against.

What kind of situation are you in in your marketplace?  Am very interested in hearing how it looks around the country.

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William Johnson
Retired - La Jolla, CA
Retired

Real Estate is an entrepreneurial business. It attracts those, like all of us who dream of bigger and better things in our lives. It is interesting that we have always felt that way about too many in the business. The strongest survive and the weaker will fall to way side. As veterans we abhor the amount of useless competition of driving the market the way too many real estate practitioners in an area have a tendency to do. The problem over the longer period usually takes care of itself. Hopefully that will be the case because we can't do one thing to slow it down. Higher costs, higher education standards, higher production requirements move the bar but they don't set the bar. Only professionalism can do that and it only seems as though it takes forever to accomplish its goal. Actually it is weeding and working around the clock. Good Post.

May 15, 2007 05:29 AM
Allison Werner
To Be Announced - Middletown, NJ
Hi Ed, we are a smaller state than yours, but still have about 65,000 licensees. In the two counties that our MLS represents there are over 11,000 agents. Less than 1/3 actually closed at least 1 side in 2006 though.
May 15, 2007 05:48 AM
Anonymous
Evelyn Rose
Interesting post.  Makes you wonder how many of the 1800 in your area are full time realtors or if they are only part time.  Any idea how many of them actually work?
May 15, 2007 05:49 AM
#3
Ed DeChristopher
Fredericksburg Realty, Inc. - Fredericksburg, VA
CRS Fredericksburg VA

William - Thanks for the nice compliment.  Evelyn's comment about how many are working is certainly a good one and Allison's statement about less than 1/3 closing at least 1 side last year is telling!

Allison - Amazing.  Two questions though: how do they pay their dues and other requisite fees?  And even a better question, how do brokers keep them on the rolls with that little production?  When I got my broker's license in 1997 a great deal of discussion was about desk fees.  If an agent does not produce they should be dismissed from the company!

Evelyn - Have no idea how many are full time.  Would be willing to bet that it is not a substantial number.  We are, nonetheless, competing for buyers and sellers with them.  Fighting an uphill numbers game is the result.  We have to keep working hard, diligently, and smart!

May 15, 2007 06:00 AM
Allison Werner
To Be Announced - Middletown, NJ
Hi Ed- To answer your questions, they pay their fees, and it seems that around renewal time every couple of years the numbers drop off. There are some brokers in this area that have hundreds of licenses, even though they have a very small percentage of the closed deal's market share, produced by an even smaller number of the total licenses the broker holds.
May 15, 2007 06:13 AM
Danny Smith
DISCOVER TEXAS HOMES - Round Rock, TX
Ed, everyone in within our MLS area has decided to get their Real Estate License! We now have around 9,000 agents.
May 15, 2007 06:20 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA
Hey Ed!  Thanks for blogging about my pet peeve!  In Atlanta we used to have about 13000 agents for about 6000 sales a month.  That was 2.5 years ago.  Today we have 44332 agents for 5,682  sales in April 2007.  Last year, April saw 6,966 sales.  Hey that is a 18.5% drop in sales acrsoss the boards, and a 290% increase of agents in 2.5 years!
May 15, 2007 10:31 AM
Ed DeChristopher
Fredericksburg Realty, Inc. - Fredericksburg, VA
CRS Fredericksburg VA

Danny - And why not.  It is so easy to sell a home; look how you do it.  Bet that several of those to whom you sold a home now have their real estate license!  Think they ever think about how long it took you to do the job you do so well?

Jim - Let's just stick with it.  Our time will come (back) again!

May 15, 2007 11:20 AM
Julio Anchante
Century 21 M & M and Associates - Vacaville, CA
CRS, Vacaville, CA - Home Search

Great post. It's time for some agent to drop off.

May 15, 2007 11:37 AM
Ed DeChristopher
Fredericksburg Realty, Inc. - Fredericksburg, VA
CRS Fredericksburg VA
Julio - Thought the same thing but our membership did not drop off at the start of the year (when dues became payable).
May 15, 2007 11:28 PM
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Musings about historic Fredericksburg Virginia in general with specific focus on homes for sale in Fredericksburg Virginia and the local real estate market.

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