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THE RANKS OF REAL ESTATE
AGENTS CONTINUE TO GROW IN SPITE
OF NEW TECHNOLOGIES AND A SKETCHY ECONOMY.
Believe
it or not, there are over 900,000 dues-paying
members of The National Association of
Realtors, an INCREASE of over 200,000
members in three years (San Jose Mercury
News, February 27th 2004, Sec. G).
This increase has baffled industry experts, who incorrectly
assumed that consumer-friendly technological advances such
as contend that the increase is partially due to folks becoming
agents in the wake of losing other jobs in this turbulent economy.
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John
Tuccillo, former chief economist with the Realtors
group, had the following observation: “You
can explain what is happening now very easily…when
people lose their jobs, becoming a real estate agent
and selling $5,000,000 properties looks attractive” (San
Jose Mercury News, February 7th 2004 – "People Are Jumping
INTO, Rather Than AWAY From Real Estate Sales As A Career")
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The
Typical Profile Of A Real Estate Agent In 2004:
According
to data compiled by The National Association of
Realtors, only about 6% of current members work
full time selling properties, and this is not necessarily
a good thing.
Besides robbing real estate sales of a certain
level of professionalism, part-time agents help
heighten the myth that selling homes is a quick,
simple way to earn extra income, according to Philadelphia-based
super agent Christopher J. Artur, who has been
in the business since he was a Penn State student
in 1976.
According to Artur, “(part-time work) doesn't send a great message to consumers. (This
profession) has to be more than part-time, especially when you deal with first
time home buyers who need face-to-face and accessibility all the time.” Artur
further notes that the realtor ranks are becoming more diverse, with more minorities
entering the field as minority populations continue to grow around the state.
Demographically, The Agent Population Looks Like This:
90% White, with Black, Hispanic and Asian individuals making up the other 10%. In
1970, over 80% of agents were men; in 2003 52% of agents were women. For
the first time since 1984, the median age of agents declined from 50 to 49. However,
most agents are still 55+ years of age. Nearly 25% of realtors make gross
over $100,000 annually from selling properties; this is up from only 10% in 1996. And,
as one might expect, the longer an agent has been selling, the more they tend
to make. The numbers seem to indicate that age and experience count.
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