California Has a Real Estate Agent for Every 52 Adults
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If you live in California you should have no trouble finding a real estate agent. A new report from the California Department of Real Estate says there is a real estate agent for every 52 adults in the state. This is a 57 percent increase over the last 5 years.
This sounds like many people taking the test and then doing nothing with the license. But if you think about it, with this many people running around with a license, how do you find the good ones? And after all these new real estate agents start screwing up, and it is perfectly natural for new people in a job to make errors as they learn, it will cast an even darker pall on the reputation of the real estate agents in the state.
Ask any top producing real estate agent and they will tell you that a closing can turn into a mess with new agents which hurts the reputation of everyone associated with the closing. And this in turn will push people to the new technology of the web and end up lowering commissions across the board.
As of April, the trend continued with the number of licensees climbing to 495,000.
To accommodate the demand for real estate licenses, the DRE conducted numerous “mega-exams” in which thousands of applicants took the real estate license examination. The department also increased the services available through its online licensing system, which has issued licenses to more than 70,000 people since March 1, 2005.
“The level of interest in real estate licensure is unprecedented,” Commissioner Jeff Davi said. “With so many new licensees, the DRE has also increased its consumer protection efforts.” via the Sacramento Business Journal:
Update: The Next Bracket has an interesting point on the comparison of real estate agents and doctors in the country.
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Comment by Sam Dodd on 24 May 2006:
Wow that is a big amount per person I would be interested to see if that is active agents or both active and inactive.
Pingback by Next Income Bracket » More Real Estate Agents than Doctors in the US on 24 May 2006:
[...] There are currently 298,815,342 people in the USA, according to the US Census Bureau. The Real Estate Bloggers writes that there’s a new report from the California Department of Real Estate that says there is a real estate agent for every 52 adults in the state. Let’s take a look at the number of people in the US divided by the number of active physicians (approximately 800,000) and compare that with the population in California divided by the number of real estate agents. [...]
Comment by kyle on 24 May 2006:
That’s interesting. That’s more real estate agents than doctors per person!
Comment by Jerry P on 26 May 2006:
That is allot of agents. But the rate at which agents quit the business is extremely high as well. I’m not sure, but I think that 75% of all agents who get licenced today quit within 18 months because they can’t make enough money with all of the competition around. They end up getting ‘real jobs’. And don’t forget that they are moving forward with the rule that requires a potential agent to take all 3 exams first, before they can get a licence. No more ‘conditional’ licences. I think you’ll see a drop in the number of licences being issued in the year after that takes effect.
Pingback by THE REAL ESTATE BLOGGERS » California Real Estate Agents Will Have To Recieve More Training Before Being Licensed on 23 September 2006:
[...] California presently has 1 licensed real estate agent for every 52 residents. Many of these are so poorly equipt to provide adequate service for their customers that problems in real estate transactions have increased dramatically. [...]
Comment by Carlos Herrera on 25 September 2006:
This why we as Realtors can not sit on our laurels and must provide a higher level of service to earn the respect and business of the clients we serve.
Pingback by 1 in 50 Now an Licensed Agent In California, Will the Madness Never End? — The Real Estate Bloggers on 24 June 2007:
[...] expect the numbers to start to shrink. From roughly 495,000 licensees (brokers and agents), or 1 in 52 adults in the state, the number is now exclipsing [...]
Comment by Tamara Dorris on 3 August 2007:
I’m conducting a study of what new agents find most appealing when choosing a broker, as well as other trends related to new agents leaving the business. If anyone has any input, I would love to hear it.
Comment by Cuttlefish Guy on 9 October 2008:
Senate Bill 1461
As a result of SB 1461 all California real estate agents will be required to display their DRE number on their marketing materials. This includes business cards, stationary, flyers postcards and websites created for introductory purposes and it begins in 2009. http://www.cuttlefishdesigns.com is available to help agents make this transition. ei. $76. for 1000 full color front and back, glossy 14 pt. business cards. Have us design them or design your own online at http://www.cuttlefishdesigns.com/idesign