Alternative Title Everyone Knows a Realtor
As a home owner or home buyer, there are a lot of real estate agents and brokers out there to pick from but precious few have worked in the business as consistently and diligently as I have. Let me explain.
As home sales volume declines, "part time agents" continue to go back into hiding with some expected to “pop up” again once the market returns to full strength.
There is a direct correlation between home sales volume** and agent licensing with licensing movement changing 6-12 months after a consistent change in home sales volume.
Today’s decreased license renewal rate is directly related to the flat-to-down home sales volume experienced since 2016 with 79.3% renewing in 2018 versus 81.4% the year prior 2017. Additionally new sales agents have declined about 10% from 2017 to 2018.
The next substantial increase in sales agents won’t occur until the next boom in real estate sales volume...
and prices. This boom, most likely to occur in the years following 2021, will see the Great Confluence of first-time homebuyers and cash-flush retiring Baby Boomers.
What does that mean? There are a lot of newbies, active/inactive, here today/gone tomorrow Realtors currently in the business. You need a Realtor that has been in the game CONSISTENTLY and I’ve been doing this since 2004.
I also recently discovered that out of 10,000 agents registered at the Greater LA Association of Realtors only 2100 had 2 deals or more in 12 months – yikes! I had no idea how low the number was but happy to announce I made the cut off – by a lot!
Brokers are a different story although they too have declined since their peak in 2010 – now at 94,900 in the state of California. Brokers tend to have staying power because they are more educated and typically started out as agents so know the ropes.
Additionally as a Broker I have been studying and increasing my real estate acumen since 2004 including knowledge about zoning, construction, permits, appreciating neighborhoods, real estate law, appraisal, lending/finance, rent control, etc. How’s that for diligent??
When you’re ready or even if you just have questions, I’m always at your service.
**Home sales volume is a leading indicator for the real estate market with home prices too. As sales volume declines, prices start to fall within 12-18 months. However with the lack of inventory in the Greater LA area, this decline in prices may be shallower than the past.
Source First Tuesday Journal
Crissi Avila will teach you how to buy smart. We’ll look at location, development, and turnover so you can spot opportunities long before most even start considering them.