Tuesday, October 12, 2010

California: Number of Licensed Real Estate Agents declines Sharply

by Calculated Risk on 10/12/2010 08:32:00 PM

From Eric Wolff at the North County Times: Agents flee real estate slump

Small Business Optimism Index

The ranks of holders of the "sales person" license thinned by 18 percent since the peak, down to 327,341 active licenses in August.

The number of brokers, who have a larger investment in time and money into the business, also slumped, but by 3 percent to 148,373.

The drop in licensees whacked membership rolls at the California Association of Realtors by 20 percent, pushing their membership to 160,000.
...
"When you go from one to three sales a month to one sale every three or six months, you can't make a living," said Susana Marquez, a San Diego real estate agent.
Not only are sales down, but so is the percentage commission, also from Eric Wolff: Real estate agents reducing commissions