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New York

Fewer enter real estate’s lower ranks 

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From the February issue: Turmoil in the real estate market appears to be having another impact besides affecting prices, as the number of new real estate salespeople entering the profession for the first time in recent memory stalled last year. For the five boroughs, the number of salespeople, who enter at the lower ranks of the profession and are less experienced than licensed brokers, was flat for 2007. Meanwhile, the number of brokers was up 4.8 percent for the year, likely a sign existing salespeople are taking the higher level of licensing as the market grows more competitive. “People considering careers in real estate are reading all the negative publicity about the market and the mortgage situation, and it’s turning them off,” says Phyllis Pezenik, vice president of residential sales for DJK Residential.