Become a Realtor®! Make Millions!

By
Commercial Real Estate Agent with Contour Investment Properties

As a mountain resort town, Jackson Hole has a high cost of living. It's expensive to live here, primarily because housing is (or was) so expensive, and because you can't actually grow food here. We do brew really good beer though. But I digress.

My last blog rambled a bit about hitting cats with a dead Realtor® and about how easy that was here, because there are so many of us. But why are there so many? Is it something in the water?

Word on the street is that it's an easy living. And with a median home price north of $1,200,000 in 2010 (less for condos and vacant lots), it's true that the average sale is going to make good money for that hard working Realtor.

But how many sales are there in a year? And how many agents are there? Hmmmm. Let's look.

Number of sales and agents in Jackson Hole from 1996 to 2010

The number of licensed agents in Jackson Hole more than tripled from January 1996 to January 2008. The number of sales doubled over that time frame, which means that each agent was making fewer sales. Then....well, we know what happened then. The banking system collapsed, and real estate transactions stopped dead in the water.

Since 2008, there have been fewer sales each year in this market than there are agents! Ouch.

Sales Per Agent in Jackson Hole

And when you consider that the 20/80 rule is at work here (20% of the agents making 80% of the deals), I expect we've still got quite a few agents who will exit the business in the next couple of years. That's tough.

How's your market look?

 

Posted by

Tim Bradley
Owner/Broker
Contour Investment Properties
172 Center Street, Suite 200
PO Box 1152
Jackson, WY 83001
(307) 733-6400
www.contourproperties.com

CCIM logoTim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Valley. Tim has earned the MAI designation from the Appraisal Institute as well as the CCIM designation from the CCIM Institute.

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Vacation and Second homes
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Mentors: Agents Helping Agents
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Rainmaker
888,027
J. Philip Faranda
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY - Briarcliff Manor, NY
Broker-Owner

And yes, that is one good looking dog! 

Sep 18, 2011 01:46 AM #27
Rainmaker
288,656
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Hi Phil, thanks for stopping by! What amazes me are the full time agents who only give it part time effort. Many of them could be so successful if they would treat it seriously.

Sep 18, 2011 03:18 AM #28
Rainmaker
986,173
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Great article, very informative and useful information to have.

Sep 21, 2011 09:15 AM #29
Rainer
478,183
Not a real person
San Diego, CA

Happy Monday!

Oct 03, 2011 06:17 AM #30
Rainmaker
846,226
Barbara Altieri
Kinard Realty Group Fairfield and New Haven County CT Real Estate - Shelton, CT
REALTOR-Fairfield County CT Homes/Condos For Sale

Tim -- Good analysis, and I suspect what you say is true in many areas.  We still have a lot of new agents coming in. Many still think it's an easy buck.  They will find out it's hard work quickly enough and how you have to work constantly and consistently to be successful.   It's a great job, but you have to be committed AND LIKE what you're doing.

Oct 07, 2011 02:08 AM #31
Ambassador
2,305,570
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Tim, I suspect that there are quite a few agents that have other jobs since there's not enough sales to go around and those agents with no sales may be bussing tables down at the local cafe.  Great graphs and text to go with it.  It's a tough market right now..

Oct 09, 2011 01:51 AM #32
Rainer
59,174
Kym Wright
Prudential California Realty - Olivenhain, CA

Tim - I had to come over and check out your blog after seeing your great picture on Donna Harris' blog.  That airplane was very chummy with your daughter.  So I am greeted with your first blog, which is fantastic!  Also did they factor in the COST of being an agent.  I wonder some years if I ever break even!!

Thank you!

Oct 10, 2011 05:22 PM #33
Rainmaker
288,656
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Thanks for stopping by, Will.

Russel, is that the proverbial blind squirrel looking for a nut?

So right, Barbara, so right.

Judi, the local joke here is that the proper thing to do with the Realtor on your front porch is to pay him for the pizza...

Hi Kym, thanks for passing through! We just hired a new agent, and it's been an eye-opening experience for him as he digests how much work this is, and how much it costs him to show up to work each day...

Oct 11, 2011 03:20 AM #34
Rainer
478,183
Not a real person
San Diego, CA

Happy Hump Day!

Oct 26, 2011 03:04 AM #35
Rainmaker
235,927
Patricia Beck
RE/MAX Properties, Inc., GRI, CDPE - Colorado Springs, CO
Colorado Springs Realty

Many of those agents are not getting a paycheck so you wonder how many of them are working another job.  I didn't know Jackson Hole had so many real estate agents.

Nov 02, 2011 10:20 AM #36
Ambassador
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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Hi Tim

The wife and I plan on making a run up your way next year for a fun vacation.  I've been to Jackson Hole several times but she has never been and is excited to experience it.  She's already getting monthly news letters on the area and plotting cool things to explore along the way.

Best regards from the Q

Nov 05, 2011 05:34 PM #37
Rainer
478,183
Not a real person
San Diego, CA

....Friday’s child is loving and giving,
Saturday’s child works hard for his living

It's Sunday

Nov 06, 2011 05:27 AM #38
Rainer
206,634
Marge Piwowarski
Phoenix AZ Horse Property - Phoenix, AZ
Phoenix AZ Horse Property, LLC

Tim,

I retired from a long time career an ER-ICU RN.  Years ago, I worked as an agent in the Kansas City Area, was licensed  in both states and loved my job.  I did well then, and when I realized retirement isn't for me yet, and thought about things I could do, there was no contest.  Some of my enthusiasm came from the fact that I was looking for a new home myself and went through about a dozen agents before I found one who was interested in doing the job.  Clearly, there was a place for a buyer's agent with a work ethic. 

The market had crashed but people willl always need homes. 

I love my job.  I am not retired.  Life is good!

 

Nov 07, 2011 10:32 AM #39
Rainmaker
1,179,652
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Why are you not writing more posts Tim.  You write so well.

Nov 21, 2011 04:00 PM #40
Rainmaker
288,656
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Hi Jane, oh, same reason I haven't made it to my yoga class in months. Too busy at work, raising a new baby, worrying about my mortgage, lol. I do enjoy it when I have written a good post, but the old writer's block is something I'll have to overcome to be more proficient.

Nov 21, 2011 04:06 PM #41
Ambassador
2,305,570
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Tim, Came by to see how you are doing. Are you toying with the idea of retiring from blogging?  I thought maybe you'd decided to go out on top with a featured post. LOL..  

Please come back and write something.. Have missed your posts. 

Nov 23, 2011 01:16 PM #42
Rainer
478,183
Not a real person
San Diego, CA

Hope you had a great Thanksgiving and that your Black Friday won't get too stressful and mess up the rest of your weekend!

Happy Black Friday!

Nov 25, 2011 02:17 AM #43
Rainer
118,941
EC, JF, Double R and Zoey the Cool Cat
Russel Ray Photos - San Diego, CA

Hope you had a great Thanksgiving yesterday and a happy Black Friday today. Good luck in ending the year on a high note!

Nov 25, 2011 12:56 PM #44
Rainmaker
1,959,189
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Tim

That is expensive real estate. If you have great beer though it makes it all that better

Dec 10, 2011 12:45 AM #45
Ambassador
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Respect Realty LLC
Respect Realty LLC - Milwaukie, OR
Brokers - Oregon / SW Washington Real Estate

There are certainly those who don't realize how much work really goes in to each sale and if they really figured out the number of agents vs the number of sales like you have, they will quickly realize it certainly isn't an easy business.

Mar 11, 2012 09:13 AM #46
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Rainmaker
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Tim Bradley

Commercial Real Estate Expert in Jackson Hole, WY
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