The number of REALTORS (doesn’t count people with licenses that don’t join the Realtor Association) has grown from 876,000 in 2002 to 1,357,000 in 2006. As of last month, the number sits at 1,363,000. In California, the number of members has dropped about 5,000 to 195,329 from last year.
The annual bill to remain a member is due in January (at least around here). I’m thinking that’s when we’ll see more drop out of the Association.
We’re already seeing some indicators. Some brokerages around the county have lost a lot of their agents and we’ve seen some close. I’ve talked to a few Brokers in the SF Bay Area that are with discount brokerages over the past few months and they are having a tough time since they count on volume to make their business plan work. One has already closed their doors, another plans to close when their franchise agreement is up for renewal, and another has moved to a traditional brokerage.
It’s a challenging time for many in this current market…