Finding a good real estate agent is not an easy task, which is why it can feel like a never-ending process. There are so many agents out there, how do you know who will be a reliable seller’s Agent or buyer’s Agent?
In this article, I will go over some helpful tips to ensure that you find your perfect agent quickly! Read on for my top 5 tip list here.
2) There are approximately 1.5 million real estate agents in the U.S.
While this may seem like a lot of people, it is only about five percent of all licensed professionals in the United States! This includes those that have specialty licenses such as brokers or patent attorneys.
There are around one million two hundred thousand active real estate agents in the US right now. And while most individuals will not become an agent, marketing yourself as an agent can earn you a substantial income.
Many individuals start their career as an agent before transitioning to owning a house themselves. Others choose to remain a professional agent their whole life- which is totally fine!
With the average cost of becoming an agent being around $20,000 (including college tuition), there is no reason to be poor because of choice of profession.
3) There are 2.2 million real estate agents in the U.S.
While there is no exact number of how many real estate agents there are in the United States, most sources agree that there are around two to three million active ones. This includes those that have their license and work as brokers or representatives for a specific company, as well as individuals who are self-employed.
There are also some sources that estimate there are twice as many inactive real estate professionals in the country. These include people with a limited time license (such as being able to sell residential houses but not commercial properties) who still want to be involved in the industry. They may even go onto another career after they retire!
Sources: https://www.realtor.org/news/article/how-many-realestateagents-in-the-u-s/, http://blog.agentchecker.
4) There are 3.6 million real estate agents in the U.S.
While there is no national licensing agency for real estate agents, every state has at least one regulatory body that requires people to be licensed as an agent. These agencies regulate how professional you must behave as an agent, and require you to take certain courses before being granted your license.
There are three main types of licenses REAL MASTERS give out. They are Licensed Agent (also called Broker), Accredited Relocation Specialist (ARRSE), and Residential Property Manager (RPM). The latter two only apply if you work with buyers or sellers respectively.
A Licensed Agent can go about buying and selling properties, but they are not allowed to represent either party as a seller or buyer. This means they have to find a partner broker who will agree to collaborate with them on both sides of the transaction.
As for ARRs, they can only help with relocations which mean moving someone’s house or business. There is no limit to their number, but most people don’t need more than one!
The last type of license is for residential property managers. Only those who sell houses can become one of these, so it naturally limits the amount of agents available.
5) There are 4.9 million real estate agents in the U.S.
While not as many as there were back in the early 2000’s when the average realtor had one to two clients, that number is still quite large. The average cost of an agent license these days is around $20,000-25,000 which makes it very affordable for people who want to make money selling or renting homes.
There are currently 4.9 million active licenses in the United States according to the National Association of Realtors (NAR). This includes both professional level brokers as well as individuals who have just received their license but are not fully licensed.
6) There are 5.8 million real estate agents in the U.S.
According to the NAR, there are currently 5.8 million people who work as real estate agents in America. This number is growing rapidly as more individuals decide to become involved in the industry.
The average real estate agent earns around $60,000 per year- this can vary greatly depending upon what kind of agency you work for and what areas of business you handle! Most real estate agents have their own personal portfolio of houses they sell, or ones that they represent clients with, but some also take on renters or buyers directly.
Many people start off working as an apprentice broker before being able to graduate as full fledged brokers. An apprenticeship only requires about six months long, while becoming a fully licensed broker takes one to two years.
There are many different licensing levels for real estate agents in the United States. These include beginner, standard, advanced, and professional licenses. While most states require at least a basic license, others may offer additional classes or certifications like REALTOR CERTIFICATE EXAMINER OR PROFESSIONAL ASSESSMENT TECHNIQUE (PAT).
7) There are 7.7 million real estate agents in the U.S.
While not all of these professionals work full-time as brokers, there is an estimated seven (7) people per 1,000 residents who hold either REALTOR®, SFR, or GRI professional licenses. This means that there are about 7.7 million individuals licensed to sell real property in America!
This includes those with only part time employment as Realtors while they also have other jobs, such as being self-employed or running their own business. Obviously, the more involved you become in the housing market, the more likely you’ll need a license.
But even if you aren’t planning on becoming a millionaire by owning houses, you can still make money from a home sale just by paying attention to detail and keeping yourself educated on the field.
8) There are 9.9 million real estate agents in the U.S.
According to the National Association of Realtors (NAR), there are 9.9 million licensed real estate professionals in the United States. This includes 5.4 million full-time REALTORS®, 2.2 million part-time or affiliate REALTORS®, as well as 3.1 million residential agent licensees and 0.8 million commercial agent licensees!
The average NAREB member belongs to 1.6 brokerage firms with an overall employment size of around 250 people. Some firm sizes can be larger than one, which means some agencies have more than 4,000 employees!
Most brokers don’t work for themselves but instead work for someone else who owns their own business. For example, most brokerages have owners that hire others to help manage the property under their responsibility, such as salespeople and managers.
There is no national standard for what makes an “agent” so each state has its own definition. In general though, anyone working in the real estate industry qualifies as an agent.
9) There are 11 million real estate agents in the U.S.
While there is no exact number of what percentage of people who sell homes do it themselves, we can assume that most sellers hire an agent to handle the sale process for them!
There are currently around eleven (11) million licensed real estate agents in the United States, which represents just under one percent(1%) of all professionals working in the field. This includes five (5) year licenses as well as life time licenses.
The average cost of a real estate license is two thousand dollars, making this profession accessible to anyone with enough motivation to learn how to market and sell houses. These agents get paid a commission when their seller sells their house so they are incentivized to promote and manage the sale.
Given these incentives, it makes sense then that almost everyone becomes a professional real estate agent at some point in their lives. It is really easy to start if you have a lot of money or want to make lots of money quickly.
However, not every person who wants to be an agent will succeed in doing so, which was the main purpose of this article! Hiring someone to help you find your home and represent you as buyers or sellers can save you a substantial amount of money in the long run.