There is a lot of misconception as to how much business a typical Realtor does in a given year. The consumer assumes Realtors sell lots of homes each year since many brag about being a million dollar producer. Keep in mind that if the average home is $250,000, it only takes four to be a million dollar producer!
According to the Intermountain MLS, there are 3,773 Realtors (including assciate brokers and brokers) whom are members of the Boise Regional Realtors effective February 17, 2017. In 2016, according to the Intermountain MLS, there were 11,938 residential listings sold. Since we count both the listing and the sale as separate transactions, there were 23,876 closed real estate transactions in Ada County in 2016.
That equates to only 6.33 transactions per Realtor!
When you run the numbers of actual homes sold per Realtor, those are deceiving because many agents work on a real estate team, or as a buyer's agent, so their volume is reported in the name of the team leader, and some real estate brokers claim every sale in their office. If a team/office of 10 people did 63 transactions in 2016, isn't that really still an average of 6.3 per Realtor?
I have tracked this number for years and believe it or not, 6.3 is actually a bit higher than I am used to seeing. With the market continuing to recover and the huge numbers posted by some agents that list a lot of production built homes, I guess it makes sense.
Please keep in mind thought that the number of homes your Realtor closes a year has no correlation to how good or bad of a Realtor might be. If the answer was based on volume, McDonalds would have the best burger in the world and Walmart would have the best service in the United States.
Therefore, if you are looking to buy or sell a home in the Boise area, look at what matters most:
- their marketing plan (is it in writing what they will do for you and customized?),
- level of service (are they going to just put up a sign and be a data entry clerk in the MLS),
- their experience (are they used to dealing with your type of transaction),
- attention to detail (real estate is very complex - don't just use someone that smiles a lot),
- real estate education (do they just take minimum classes for CE or do they hold certifications and designations in the real estate industry),
- commitment to the industry (do they only worry about themselves or do they teach others, serve on committees, volunteer in leadership, etc.),
- Commitment to the community (do they try to make their schooos, churches, neighborhoods better or ar they just in it for the money),
- Negotiation ability (if they can't even negotiate their commission except down, what will they do with your equity and hard earned money?).
What is your potential Realtor specifically bringing to the transaction to help you with what might be your largest financial decision of 2017. I have personally closed well over 500 transactions during my Boise real estate career, I am a lifetime member of the Top Producer's Club, I am a lifetime member of our Honor Society for giving back to my industry and community, I am certified to teach other Realtors their Continuing Education classes both locally and nationally. My business is organic - I get it from my referrals from my past clients. My company is A+ accredited with the Better Business Bureau too.
If you are looking to buy or sell real estate in the Boise area, don't just hire an "average" agent - call Jim Paulson, Owner/Broker of Progressive Realty Corporation for a custom plan to help you get to the next chapter of your life! I would love to help!
I do look at days on market and find it potentially helpful. It isn't "the answer", but it can help provide clues. You have sparked my curiousity as to why the (probably half) of NAR members choose to pay dues if they aren't in sales? I am pretty sure it isn't for their incredible member benefits program. LOL
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