Tuesday, July 20, 2010

How Many Real Estate Agents are there in California?!

Doing loans and Real Estate in Santee, California seems fairly routine.  However, I wanted to know how many agents there were out there, who is my competition?.....in my market....
Would you believe that there are 483,250 licensed real estate agents in the State of California? According to http://www.dre.ca.gov/gen_stats_09_10.html
Is that a lot?  Well, yes!...... and thankfully.... No... I will explain later why it is so good.... That said, what other profession has that ratio?  Just think about that for a minute?  1 agent for every 90 people.  How many of those people are renters?  How many of those people cannot qualify for a loan?  50%?  I am not sure the exact number, but lets wipe out 50% just for the sake of argument.... Would it be realistic to say there is "now" 1 licensed agent per 45 people in the State of California?  Maybe and maybe not, because there are how many inactive agents?  I'm not sure about that either... But, for the time being I am only conducting surface level secondary research, so this is about as in-depth as I can go.  I do want to dig much deeper to find some more firm statistics.

Though that may seem high, the rate is decreasing each month. One year ago this month there was 519,941 licensed agents and two years ago this month there was 542,267 licensed agents.
At this rate, we will soon shed some 100k licensed agents from where we were a few years ago, and with a higher population. I tend to be optimistic; when the market turns the remaining agents who stuck it out or even made the system work will be well positioned.... Are you using this market to your advantage?  Are you keeping tabs on your competitors?  I know I am....

Stack of Money

I am not sure how many licensed agents who are also hold the MLO designation, but I can say that I will be in this category.  With the new NMLS requirements, I am looking forward to seeing some room on that side of the fence....
See you in Santee, CA.

Best Regards,

Keith Bennett
DRE# 01869992

Premier Mortgage & Real Estate
9225 Carlton Hills Blvd. Suite #3
Santee, CA. 92071
Direct Line - 858.344.4512
Fax - 619.312.1621

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