I'll tell my readers the same thing I tell everyone who asks me about Real estate sales in Southwest Michigan: Homes are Selling.
Maybe not at the rate that will make sellers and Realtors happy, but they are selling. In our area in January of 2008, 21 Million dollars worth of Residential real estate changed hands. Albeit, this is not the level of sales to which we are accustomed, but it is hardly a poor showing. If one were to suppose 4% in Realtors' commissions on that amount (a very low guess), that's $840,000.00 that area Realtors earned from the business. I've been told that 10% of the Realtors earn 90% of the commission. That means that the top 90 or so Realtors collected in the area of $8,400.00 each.
That puts those Realtors above the $100,000 gross commission mark for the year, provided sales stay the same year-round as they are in January. January usually represents fairly low sales for homes, so things will be considerably better later in the season.
The figures above do not include commercial sales or vacant land, which accounted for an additional $2,900,000.
So, for full-time , effective, successful Realtors, 2008 is promising to be a year of possibilities. I'm looking forward to a great year.
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