1 in 50 Now an Licensed Agent In California, Will the Madness Never End?
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An interesting phenomemon is occuring in California. With sales slowing and the market soft, you would 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 532,000.
Meaning that 1 out of every 50 adults in California is a licensed real estate agent. That means on the typical street in the state is holding a license to sell properties.
What is even more amazing is that brokers in California have increased 10,000 from 135,458 last year to 145,224 this year. The gold rush philosophy that populated the state in it’s early days must still be continuing to this day.
If you had told me last year after all the doom and gloom that the state would continue to add agents I would have told you that you were mad. But looking at these numbers, there is a bit of madness running rampent throughout the state of California.
The number of real estate sales license holders in California is continuing to rise despite the downturn in the housing market, but the number of Realtors statewide and in the East Bay is falling. There were 387,077 licensed real estate salespeople in the state in April, up from 385,043 in March and from 359,871 a year ago, according to California Department of Real Estate spokesman Tom Pool. The agency did not have individual county license data. Another 145,224 people held real estate broker licenses, up from 144,332 in March and up from 135,458 a year ago. via the East Bay Business Times
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Comment by Jennifer Steck on 26 May 2007:
That is surprising! I was hoping the field would clear to include only the serious contenders. I’ll have to check our numbers in Colorado.
Comment by Sock Puppet on 26 May 2007:
That is werid.
I guess FSBO will take on a new meaning eventually….
-Athol
Comment by Widget on 27 May 2007:
That makes sense. Licenses ae good for 18 months or 4 years, depending on the license. Many real estate agents have left the biz, yet their licenses are still valid. They may be non practicing, or just part timing it. The numbers of Realtors will be a much better estimate of change – Realtors must renew annually.
Comment by john harper on 27 May 2007:
I was going to mention this on our blog – but why reinvent the wheel? I’ll just send folks over here to get the news…
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Comment by Jerry on 16 June 2008:
I am a Broker here in Indiana, and I will say that if you now take a course, pass a test, you can get your license. It seems there are too many agents and this really hurts sellers and buyers when they come to expect professional experience. I have written our senators to try to require stricter pre-licensing, fingerprinting and background check on all applicants, nobody cares. Real Estate is definately turning into an expensive hobby.
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