Here’s why there are more real estate agents now than ever before

National Weekend Edition /
Mar.March 06, 2022 02:00 PM
There’s a whole lot of new agents (Getty)

There’s a whole lot of new agents (Getty)

Thousands are seeking their license to sell.

More than 156,000 people became real estate agents in 2021 and 2020 combined — nearly 60 percent more than the two previous years — as Americans looking for work during a pandemic found a hot housing market as an answer to their prayers.

The New York Times is reporting there are more real estate agents now than ever before and even more could be on the way: the top job-related search on Google between January 2021 and January 2022 was “how to become a real estate agent.”

There’s a reason why real estate has drawn a host of workers while most other industries in the United States have struggled to find workers: flexible schedules and a booming market during the pandemic make selling homes an easy choice.

And some Realtors say that making the move paid dividends.

“Even in the middle of the pandemic, you talk to almost any Realtor and they’ll tell you 2021 was their best year ever,” Maggie Gwin, a Los Angeles-based agent with Sotheby’s, told The Times.

The growth in the number of agents isn’t the largest in history. That came in the boom years of 2005-2006, when more than 250,000 people became agents. But that changed after the crash of 2007, and by 2008, about 10 percent of the population of real estate agents left the industry.

But that boom or bust mentality appears to be a thing of the past.

Today there are now more than 1.5 million members of the National Association of Realtors — a record number — and they are all vying to sell the relatively small amount of homes on the market. There were 910,000 homes on the market in December, according to the newspaper, down 14 percent from the previous year.

But that hasn’t stopped workers of different ages and from many industries from jumping in.

[New York Times] — Vince DiMiceli





    Related Articles

    arrow_forward_ios
    Related CEO Jeff Blau and 455 Tenth Avenue (Chris Martin, Google Maps, iStock)
    Related launches lodging for executives’ hybrid work
    Related launches lodging for executives’ hybrid work
    Matt Lauer with 26, 28 & 32 Actors Colony Rd (Getty, Susan Breitenbach)
    Matt Lauer finds buyer for languishing Hamptons estate
    Matt Lauer finds buyer for languishing Hamptons estate
    Barbara Russo, Danielle Englebardt, and Oren and Tal Alexander (Getty, iStock BFA)
    Ranking the top residential brokers on the Upper East Side
    Ranking the top residential brokers on the Upper East Side
    From left: PropTech's Thomas Hennessy and Joseph Beck; Appreciate's Chris Laurence (Appreciate, LinkedIn/Tom Hennessy, LinkedIn/Joseph Beck, iStock)
    Single-family rental platform Appreciate to go public in SPAC deal
    Single-family rental platform Appreciate to go public in SPAC deal
    From left: Douglas Elliman's Scott Durkin, Stephen Kotler and Avi Dan-Goor (Douglas Elliman, iStock)
    Douglas Elliman bets on Vegas in westward expansion
    Douglas Elliman bets on Vegas in westward expansion
    366 State Street and 37 Sidney Place in Brooklyn (Corcoran, Zillow)
    Passive house asking $15M tops Brooklyn contracts
    Passive house asking $15M tops Brooklyn contracts
    100 Eleventh Avenue (iStock, Rhododendrites/CC BY-SA 4.0, via Wikimedia Commons, Illustration by Kevin Cifuentes for The Real Deal)
    Lower-end listings dominate Manhattan’s luxury deals
    Lower-end listings dominate Manhattan’s luxury deals
    Wildfire, Houses
    One in five homes facing wildfire risk, report says
    One in five homes facing wildfire risk, report says
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...