We see a lot of statistics and there is one set that I found interesting regarding our local agents at
CAAR - Charlottesville Area Association of REALTORS.
Specifically what are Agents doing since Jan 1, 2009?
We currently have 1318 active agents in our Associaton of Realtors
1. New Agents = 28
2. Agents who have transfers from one Broker to another = 104
3. Agents who have become inactive = 105
So about 8% of our members have left the business and about 8% have decided to switch Brokers. Now there are a lot of reasons why an agent might switch to a different office but I think most are thinking it will help their personal business....
I am a little surprised that we still have over 1300 agents who are active so I thought I would dig a little deeper...
What does ACTIVE really mean?
609 Agents have 1 or more transactions this year
122 Agents have 6 or more transactions (1 per month) this year
49 Agents have 10 or more transactions this year
So these numbers are telling a story. Less than half our member have 1 transaction and less than 10% are selling at least 1 property per month.
Is your agent a top agent? Are they part of the 49 out of 1318 agents? Ask them the tough questions... How many transactions have you done this year?
You may be shocked at the answer...
NOTE: I just checked and 25% of the agents in our RE/MAX office are included in the 49 agent.
 |
|
|
As your Buyers Agent/Broker in Charlottesville and Albemarle County, you are my priority. We are always available, email or call anytime at 434-515-1585.
SIGN, SIGN everywhere a SIGN!!!
Virginia Department of Transportation memorial - near Charlottesville Virginia
NGIC - Where are we now? Charlottesville and NGIC Real Estate
Monticello Trail - Charlottesville Virginia
Frank Lloyd Wright Inspired in Charlottesville Virginia
Wisteria - A home with natural beauty
Speechless Sunday - cold thoughts!!!
Rent vs Buy - the perfect answer...
We will be opening new doors soon… Ivy and Charlottesville Real Estate
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
Sobering numbers for sure. Unfortunately, this trend is becoming the norm.
Have a great 4th!
Tricia
Charles, sounds like the old 80/20 Rule or more like 90/10 applies. Have a Happy 4th.
Glad to be in your good company!
Sobering numbers, but I feel this applies to most markets. A phrase I use in my seminars is "7% of the agents produce 93% of the work!"
Charles - We have about 8,00 in our board and is always growing it seems... Talk about competition huh? Have a Happy 4th
Hi Charles:
I would love to see the numbers in my area. Unfortunately, we don't have access to those numbers.
For me personally, I'm proud to say that I've already closed $8.4M / 26 transactions so far this year.
Charles - It doesn't take rocket science to realize if there are 5000 agents in an area association, and only 500 sales, that there is a lot of pain out there in our industry. I think the winners in this market are those agents, who quickly aligned themselves with banking entities to move the REO and "short-sales" market. T
here are many agents who religiously farmed, and forged a strong tradtional clientele over the years, that are sitting on the side-lines because home-vales are often upside down. When an area has more than 50 - 80% of its sales being foreclosures or short-sales, you can quickly see the problem.
I may not be making a lot of friends out of local agents by posting these numbers but I think that when a person/family is making one of the biggest financial decisions of their lives, they should be prepared with the facts.
We just reported similar numbers it is a bit hard to imagine that agents are still here with less than 10 transaction for the year.
Charles, these are pretty scary numbers! I think our Association keeps it under wraps!
It sure is true - at least here in Charlottesville, Virginia anyway - that fewer than 10% of the agents are responsible for getting more than 90% of the business.
Here is another amazing stat... 25% of the agents in our RE/MAX office are included in the 49 agents mentioned in the post.
The sobering fact is that the "next generation" of real estate agents are not being groomed in a viable market to take over from the "old pros"....IREM * Institute of Real Estate Management * has been offering insight into where the next generation of professional property managers will come from for several years - yes, they are graduating from VT with real estate degrees and migrating from multi-unit on-site mgmt to getting their real estate licenses and working for brokers; however, the fall back income feature of selling properties they list for rent is no longer a viable attraction in most areas of the country.
As a third generation real estate professional (my aunt put two of my cousins through St.Catherine's, Bennett and Smith from the rental income of the SC commercial properties left to her by my grandfather), it should be a greater concern of NAR/CAAR that new Realtor/agents be groomed for their future of our profession. The real estate market will recover and knowledgable agents will be necessary for the continued economic well being of the US housing industry!