Number of Agents Continues to Grow

The state of California is reporting an increase in real estate licensees, despite the changes in the market. I can’t find similar stats for Maryland, but according to one source at the Maryland Association of REALTORs, we add 2000 a month. The last stat I read said that 93% of those will not renew their license in two years when the time comes. This was the stat during the housing boom. NAR currently has 1.3 Million members, and I have heard speculation that they expect that number to hit 1 Million again within three years.

The barrier for entry into real estate is relatively low. You have to take a state approved 60 hour course, and pass a state issued test. Once you have done this you will quickly spend a couple of thousand dollars to get started. Then you are a self employed business owner, which is great because instead of one boss, you now have how many ever clients you have as your boss! So, how do you make it into the 7%? I think that line above says it all, if you realize you are a business owner, and that every client is your boss, and who you owe loyalty to, then you will do fine. Just a thought that came to mind after reading the California information this morning.