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Home Real Estate Agents Port Angeles Real Estate Agents

Realtors Leaving Business

Chuck Marunde by Chuck Marunde
September 12, 2008
Reading Time: 2 mins read
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12

Port Angeles Real Estate AgentReal estate agents are leaving the business around the country.   No surprise.   Jokes abound about how every Tom, Dick, and Jane holds a real estate license.   With a real estate market that is way down, one would expect that many would be washed out of the business.

The National Association of Realtors just announced they lost more than 100,000 members since 2006.   I believe that number only represents the tip of the iceburg.   Here’s why.   For every agent who stops paying their dues to the NAR, there are several agents who are on the fence.

I’ve talked to some local agents, and this is not an unusual statement, “I’ve not done anything in real estate in months.   I’ve been home with my (husband or wife), and frankly, I have no idea what’s doing on in real estate.”   Many agents have left the business in favor of a salary so they can pay bills and support their families.   Nothing wrong with that.

My speculation on a local level is that as many as 30% of all licensed agents who were working when the business was better are not currently working full time and are essentially out of the business, although they are still licensed and paying their dues to the local, state, and national associations.     There are no reliable stats we can analyze to understand how many agents are quitting and leaving the business.   We do know they are leaving the business in droves.

This is actually good news for consumers.   When the dust settles, consumers of real estate services will be left with agents who are full time professionals and committed to the profession and their careers.   This will leave consumers with Realtors with more experience, better track records, and   greater longevity than the “flock” of licensees who got licensed and made money in easier times.   (We can also expect that some real estate brokers will literally go out of business.   You may be surprised at who does go out of business.)

Our free enterprise system has a way of cleaning up imbalances.   The system is often harsh, but in the long run, opportunities to fulfill greed diminish, prices find balance, poorly managed brokers shut down, and slowly health returns.   Good will come out of this, and in the long run we will all be glad for the results.

By the way, I’m not leaving the business.   I’m as busy as an agent could be.   This week I wrote an offer on a $400,000+ house, and today I write an offer on a lot for $200,000+.   I have several pending transactions, and many listings.   As I have said elsewhere, there are still buyers, just less of them.   The key is connecting with them.

Last Updated on September 12, 2008 by Chuck Marunde

Tags: Port Angeles Real Estate Agents
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Chuck Marunde

Chuck Marunde

Chuck grew up in remote Alaska, graduated from the University of Alaska with a degree in Economics and Teacher Certification, and after teaching high school for two years, went to law school at Gonzaga University in Spokane, Washington. He served four years as a Captain and JAG in the USAF at Nellis AFB in Las Vegas. After practicing real estate law for 20 years in Washington, Chuck founded iRealty Virtual Brokers covering Sequim and the beautiful Olympic Peninsula. He is the author of 2,200 real estate articles and a dozen real estate books, and he produced over 100 real estate videos. Chuck combined his love for real estate and technology to create a massive Internet presence, and his articles and videos and books have been viewed by millions. Chuck is a well recognized real estate expert and his counsel is sought by other brokers and practicing attorneys around the country. Buyers from New York to Hawaii and from Florida to Alaska seek him out to retain him as their buyer's agent, and home owners around the State of Washington seek him out because of his new Flat Fee Listing Service. 

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Comments 12

  1. Glen Godlonton says:
    14 years ago

    We have a lot of Realtors getting out of the Business here in Calgary too! It is good, it will clean out the Part time Realtors from the industry that typically do not do a good job for the cleints.

    Glen Godlonton, Remax Realty Professionals
    Glen@Godlonton.com
    http://www.godlonton.com
    http://www.infillsCalgary.com

    Reply
  2. Manchester NH Real Estate says:
    14 years ago

    Yeah, the real estate market is horrible right now. I believe it will pick back up, so if agents and brokers can stay alive through this period, they’ll be set

    Reply
  3. Naeba says:
    13 years ago

    No surprise here. With such a declining market. But there is still business out there for the real estate people. You just have to find a knack for the short sale

    Reply
  4. Branson Homes For Sale says:
    13 years ago

    Our town of only 6000 residents has over 500 real estate agents trying to do business and stay afloat.

    We live in a major vacation and tourism market. But still, 500 agents make the business way too saturated.

    And now that times have been difficult, we are seeing more and more realtors drop out each month and start new careers elsewhere.

    Many of the agents in our office have had to find part-time jobs to supplement their income. But many of them have had no such luck.

    Either way, I think it is important to just keep a postive mentality and hang in there. Times will get better for all of us soon.

    Reply
  5. Brainerd Minnesota Real Estate says:
    13 years ago

    “Branson Homes..”

    It is about the same where I am at. There is still quite a few agents trying to stay afloat. Something will have to give soon.

    I sure feel for the people dealing only with commercial property and those in the construction trade too.

    Reply
  6. Brainerd Minnesota Resident says:
    13 years ago

    100,000 is a huge number. Do you know how many realtors left the association after 2006.

    Reply
  7. Portland Realtors says:
    13 years ago

    Wow thats a terrible loss. I hope the industry gets back on its feet soon.

    -Kim

    Reply
  8. Eric Lincoln says:
    13 years ago

    This is no wonder at all for the Market is declining. Its still good that we still have realtors and agents that stays afloat. Real estate will be at its peak again.. soon…

    Reply
  9. vacuum pool cleaners says:
    13 years ago

    Your blog came to my attention by word-of-mouth, and I was skeptical at first, so I visit your blog… And I think that this is really a nice blog!
    I really like it! Great reading. Thanks.

    Reply
  10. Pingback: Latest buyer agent naeba news – Real Estate Blog – Suckers Fall for Real Estate Staging!
  11. Joel Clark says:
    13 years ago

    This is great post. You’re an excellent writer dealing with some complicated real estate issues.

    Reply
  12. fence prices says:
    12 years ago

    If you really want to buy just look for a real state agent is the best way to do it, they will give you a lot of options.

    Reply

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