SmartMoney Blogs

Real-Time Advice
Our real-time advice on how market shifts and news impact you and your money

Housing Sector Drives Job Losses


  • Total employed: 1.01 million, down 26% since the peak in 2006
Christian Kieffer / Shutterstock.com

During the housing peak, there was a spike in new real estate sales reps, but once sales plummeted those who entered the field last were also the first to leave, says Walter Molony, spokesman for the National Association of Realtors. The number of realtors dropped an additional 6% from 2010, according to the NAR.

Those who stuck around share similarities: 72% of them have other realty jobs in areas including property management, relocation services or land development. This helped them survive financially during years of poor home sales, experts say. Also, those who’ve remained in the business have more years of experience, which means they probably have more repeat customers and networking connections that lead to more clients during lackluster sales cycles, says Molony.

If sales continue to pick up, it’s uncertain how long it could take for real estate agents and brokers to swarm back into the market. The NAR is projecting a 9% to 10% increase in home sales this year and says median member income is up for the first time since 2002 to $34,900. That’s a 2.3% increase from 2011. Still, the association expects membership levels to remain stable – at least for this year.

Impact on home buyers and sellers: Fewer real estate agents and brokers might help both buyers and sellers, experts say. “It’s to their benefit that a lot of the more marginal, less informed, less skilled agents are dropping out,” says Goldman. In 2007, realtors had a median experience of seven years – the lowest in the history of the NAR’s survey that dates back to 1997. This year, that figure is up to 11 years.

A booming housing market tends to attract employees looking to make a quick buck, says Goldman. In this market, the chances of running into such a person are slimmer. The NAR’s Molony says with fewer less-experienced agents and brokers in the market, home buyers and sellers are likely choosing among a more experienced pool of real estate professionals.



We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (5 of 11)

View all Comments »
    • Remember that blogging is not the same as article writing. You don’t have to do a lot of research on a topic. The point is to write your own experiences and share your own perspective on a subject. People are eager to know about the everyday experiences of others, and your experience is unique. Writing from your heart will help you create a popular blog.

    • Hey there, You’ve done a great job. I will definitely digg it and personally suggest to my friends. I am sure they’ll be benefited
      from this website.

      Take a look at my website; Immigration Solicitor Greenwich

    • I gotta favorite this internet internet site it seems really beneficial.

    • I loved as much as you will receive carried out right here.
      The sketch is tasteful, your authored subject matter stylish.

      nonetheless, you command get bought an impatience over that you wish be delivering the following.

      unwell unquestionably come further formerly again since exactly the same nearly
      a lot often inside case you shield this increase.

      My website :: Deborah

    • By WebOsPublisher

      Fukushima nuclear accidents vector graphics with skull,radioactive icons and danger symbols. Following the 2011 Tohoku earthquake,the Fukushima power plant
      Radiation Vector | Vectorss
      Misc Objects
      Website Elements
      Friends Link
      Stock Photo
      Radiation Vector
      Categories: Abstract
      Fukushima nuclear accidents vector graphics with skull, radioactive icons and danger symbols. Following the 2011 Tohoku earthquake, the Fukushima power plant reactors suffered from ongoing failures and radioactive materials were released, harming the environment.Fukushima skull by CG Johnson for FreeVector.com
      Designed By: freevector
      Format: AI – EPS – PDF
      Size: 2В  MB
      Tags: Fukushima Vector, Radiation Vector, Vectors
      Other Vectors
      0 comment
      Add Your Comment
      XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> –
      Free Vector Graphic, All rights reserved В© 2009 Vectorss
      Theme Design: OS Designer – Heytbecom
      var pageTracker = _gat._getTracker(“UA-5416041-5″);


About Real-Time Advice

  • How breaking news — in the markets, Washington, and around the world — affects you and your money. Have a question about how current events may change your financial future? Email us at ask@smartmoney.com.