Wednesday, August 24, 2005

A Realtor Bubble?

The National Association of Realtors ( NAR) just issued a study showing information about Realtors' members.
  • Members who have been in the business for two years or less earned only $12,850.Members who have been in business for 6 to 10 years earned a median $58,700 in 2004, up 18.6 percent from 2002. Members with at least 26 years of experience earned $92,600, up 37.2 percent from two years earlier.
    • NAR membership totals increased 26.6 percent to 1.1 million.Between 2002 and 2004
    • Sixteen percent of members own at least one vacation home. Additionally, 39 percent own additional residential properties for investment (outside of primary residences and vacation homes), and 13 percent hold an ownership interest in at least one commercial property.

    These numbers represent just NAR members.

    3 comments:

    1. Carlton WainwrightAugust 23, 2005 2:52 PM

      I can just imagine you, holding the NAR report in your hand just like Colonel Walter E Kurtz at the end of Apocalypse Now, stroking your hand through whats left of your hair, and shrieking in a dulcet tone, "the horror, the horror."

      Or maybe it's more like the beginning of the movie when Matrin Sheen, with helicopter sounds in the background, is in the hotel room drinking, doing Tai Chi, slamming his hand into a mirror and saying things like "in Vietnam everyone gets everything they want, I wanted a mission and for my sins, they gave me one" and tails off with some comment about it being brought up on a silver platter by room service.

      My point is obvious, but since you obviouly won't get it, I'll just continue to read your blog and scratch my hair, while muttering, "the horror, the horror."

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    2. Realtor ranks always rise and fall with bubble surges and their eventual busts. In most states it's still relatively easy to obtain a license and get hired since you're paid 100% commission. The logic here in socal is if I sell one $500K house per month @ 3% commission...... The real world is a bit different and it takes a lot more work than most are willing or able to do so don't let those numbers fool you.

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    3. In a few years the number of realtors will decline- in many places now there are two manny chasing too few homes.

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