Where have all the Realtors gone?

By
Home Stager with We Stage Greater Detroit, Inc.

As I looked around the Expo Hall this year I couldn't help but wonder - Where have all the Realtors gone?  Attendance was down about 25% over last year. Where they out working with buyers and sellers and too busy to attend their convention?  Or is today's economy and business just for the serious Realtors?

In the 80's interest rates were so high buyers had a hard time qualifing for loans. Realtors were challenged to find buyers that did qualify for a mortgage.  In today's economy, buyers are looking for bargins, but homes aren't  appraising high enough to qualify for the loan value.  Realtors are still challenged, short sales, foreclosures, leases.  These Realtors are busy for sure and I think only the true serious Realtors are still working this business.  Congratulations to all the professional Realtors who are still working hard for us!   I hope to see you next year.

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Rainmaker
808,936
Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi Carolyn;

 I think they are all working trying to pay our bills....................................................

Anthony

Sep 19, 2008 02:20 PM #1
Rainer
3,775
Ray Toscani
1st Choice Inspection Services Ltd. - Port Coquitlam, BC

Good post Carolyn, but you obviously already know the answer.  Pardon me for speaking out of turn as a I'm a "gasp" home inspector and not realtor, but really... the situation is the same.  The people hoping to make a quick buck are leaving and pardon me for saying the true professionals are left.  A bad thing... I think not.  Those people left in the industry that want to build meaningful relationships, that are good at their jobs, and treat it like a job (yes marketing is work) are the ones that are left.  Personally I think that is a positive thing.  Yes it makes earning a living a little more difficult temporarily but ultimately the industry is better for it.  Should we have a market correction every year... no... but I can't say they are all bad.  I love the company I'm left to keep.

Sep 19, 2008 02:26 PM #2
Rainmaker
3,252,921
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Hi Carolyn

The numbers of Realtors steadily grew from 2000 to about 1,500,000 members in 2005 and has adjusted currently to about 1,250,000 members. NAR has projected that membership will adjust to about 850,000 member in 2012. The numbers will adjust to meet the market demand.

Good luck and success

Lou Ludwig

Sep 19, 2008 02:29 PM #3
Rainmaker
115,244
Susan Hilton
CENTURY 21 Beal, Inc. - College Station, TX
Texas Aggie Real Estate, College Station Bryan Texas Real Estate

First time in YEARS last month we actually had our MLS membership drop....

Sep 19, 2008 02:40 PM #4
Rainer
85,519
Rich Mielke
REMAX Results, Frederick MD - Frederick, MD
REALTOR, Frederick Maryland Real Estate

It just follows that if there are less transactions in the marketplace, there will be less agents, lenders, closers, inspectors and so on working. Our local board numbers are down as well.

Sep 19, 2008 02:44 PM #5
Ambassador
1,584,922
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

I think many real estate agents are expanding their resumes during these challenging times.  It was bound to happen--there was an oversupply of agents and not enough buyers and sellers--the market dictated it.

Sep 19, 2008 02:48 PM #6
Rainmaker
173,553
June Lewis
Northwood Realty Services - New Castle, PA
Realtor Northwood Realty - New Castle,Pa Lawrence Co 7247304571

Hi  With due respect to this blog,

I just don't think that we can put everyone in a box to say that  only the good Realtors are left.  I am sure there are plenty of excellent Realtors who have left Real Estate for various  reasons, of which, had nothing to do with whether they were good or bad agents.  In the situation in the market, mortgages, economy, my heart goes to these Realtors  who are

self supporting or have families and households where expenses have to be met.  I think we lost many who didn't deserve the title of being a good agent,  but there are just as many who left to find other means to support their families in these days of an unstable market as well as industry.

Sep 19, 2008 02:48 PM #7
Rainmaker
575,658
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

I was here showing a buyer homes and he bought tonight.  You are right we are a smaller group and only the strong will survive.

Sep 19, 2008 02:49 PM #8
Rainmaker
274,342
Ron Tarvin
Residential, Investment properties, rehab projects, property management, luxury homes, new construction! - Katy, TX
Broker, Katy, Houston, Cypress 77450,77494,77095

It's a shake out...some will fall others will step in to take some of their places and when the smoke clears, we'll start the cycle over again!

Sep 19, 2008 03:19 PM #9
Rainmaker
507,961
Jerry Murphy, CRS, SRES
Long Realty West Valley - Anthem, AZ
Anthem, Phoenix, and Scottsdale AZ Real Estate

We've noticed a significant drop in the number of Realtors  in our area Phoenix/Scottsdale.  We had a lot of fly by nighters during the boom.  Teenage kids right out of high school, part time agents looking for a quick buck, and also the shcheisters (sp?).  We still have some bad agents, but for the most part we've cleared a lot of them out.  Hopefully they won't all rush back in when the news turns positive.  Let those who stuck it out reap the rewards.

Sep 19, 2008 03:31 PM #10
Rainer
20,318
Carolyn Stieger
We Stage Greater Detroit, Inc. - Bloomfield Hills, MI
RESA PRO, ASPM, CRTS

Thank you all for your comments! 

Anthony, I have to agree, this is hard work and some good Realtors had to leave the industry to pay the bills.  That is so unfortunate for all of their clients they worked with through the years. 

Jerry, Ron, June:  My husband has spoken of the correction in the market.  I never thought to look at this as a correction to the numbers of working Realtors.

Terry: Congratulations on the contract!  Let's hope it appraises now and they qualify!! Keep us posted.

Norma: Do you think the multi-level marketing companies are growing?  I met a Realtor from California last weekend that is a re-seller of phone services.  He's still selling Real Estate, but he does have a side business. Hum, maybe we should consider that.

Ray:  I'm sure you have worked with many "agents" and are happy to have the Realtors left to work with!  Professional and ethical, that's what I like.

It's Saturday morning, it's been a long week and I"m heading out for a restful weekend! Thanks again to all of you for your comments. They were insightful.

 

Sep 19, 2008 11:46 PM #11
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Rainer
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Carolyn Stieger

RESA PRO, ASPM, CRTS
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