Most REALTORS® have an understanding of competition in their area of operation. They know who is successful, who sells a lot of houses, who they can trust to conduct ethical business, etc. But what about just how many REALTORS® there are in a state? How difficult is it to compete in a new state or if you move to an area in your current state where your reputation has less weight?
Large states with large populations like California, Texas, Florida, and New York obviously have more REALTORS®—common sense. Some states (like Florida, again) also have a reputation for having a lot of REALTORS® compared to the overall population. We decided to look up some figures to see which states had the most REALTORS® per capita.
Check out the Top 10 rankings! States are ranked by the number of people per REALTOR® (so since Florida’s number is 133.74, there is one REALTOR® for ever 133.74 people).
- Florida— 133.74
- Arizona— 161.31
- Hawaii— 162.14
- Nevada— 191.96
- New Jersey— 205.53
- Utah— 221.66
- Idaho— 226.05
- California— 229.44
- Connecticut— 232.27
- Colorado— 237.84
No surprise with the top 3 states—they were the top 3 in 2012 as well. But there are a few significant changes in rankings. Washington, D.C. was 4th in per capita REALTORS® in 2012, but now sits at 12th. Utah is a newcomer to the top 10, sitting at 6th. Idaho made the biggest jump in rankings within the top 10 since 2012, moving from 10th to 7th as the number of REALTORS® per capita there grew faster than Colorado, California, and Connecticut. And although some states did not make a big rankings jump, 8 of 10 states in the top 10 (all except for New Jersey and Connecticut) now have more REALTORS® per capita than they did in 2012.
Of the “Western” states (I defined this as west of the plains states), only New Mexico and Washington fell outside of the top half of the 50 states in REALTOR® density and 7 of the Top 10 are Western states: becoming a REALTOR® is clearly a more common career path in this part of the country than others.
These numbers can be viewed in a number of ways. Some states with dense REALTOR® populations may look like a difficult place to make a living as a REALTOR®, but that state may have a very active housing market that is drawing people to the industry. While there is no guarantee of success, California, for example, has a strong housing market with rising prices—a good REALTOR® can capitalize on the situation with the right strategies. Likewise, a state with very few REALTORS® per capita may represent a golden opportunity. Just consider New York: it is the only state that is in the top ten for total REALTORS® while being in the bottom half for density (ranked 34th, while having the 4th highest population in the U.S.). With a huge population and a relatively sparse REALTOR® population, it is easy to see why one would seek financial success and choose to become a REALTOR® in the state.
Any REALTOR® reading this knows that these statistics show how competitive or open a market is, not a guarantee of success or failure. At the end of the day these stats should serve as motivation to perform better, not as a deterrent from entering a great field.
For the sake of space I did not list all 50 states, but if you want the full 50 rankings or want to know about your particular state comment below and I would be happy to provide the information. For any other questions (methodology, data source, etc.) also feel free to comment. What do you think? Are these stats just fun trivia or do they say something about the opportunity for success in a given state?