If you’re considering a career in real estate, now may be a better time than ever before. And for existing real estate agents, you may find that your client base is growing steadily because the latest figures released by the National Association of Realtors has revealed that the nation’s pool of Realtors is gradually decreasing. In today’s article from Southern Connecticut Coldwell Banker Realtor Judy Szablak and founder of Szablak Consulting, we’ll explore why this is happening and what it means for the industry.
According to the National Association of Realtors, figures from 2015 reveal that just 2% of real estate agents were under the age of 30. A survey of California Realtors revealed that the average age amongst real estate agents was 58, reflecting an increase from 55 just one year prior.
On average, more than 40% of all Realtors are age 60 or older. And in 2015, it’s estimated that more than 100,000 Realtors retired or left the industry for other reasons.
With figures such as these in mind, it’s believed that the aging real estate work force, combined with minimal recruitment is going to lead to a steady decrease in the number of real estate agents in the nation.
Why Are There So Few New Real Estate Agents?
Getting started as a Realtor can be challenging due to the lack of a weekly paycheck. As a result, most real estate agents start out gradually, pursuing a career in real estate as a part-time job. This is especially true for the younger demographic of 20-somethings and 30-somethings, as they’re less likely to have several months worth of income set aside to cover the bills while they get established in a new career niche. Plus, the average American in their 20s or 30s will also have tens of thousands of dollars in student loan debt, which only complicates the equation..
To pull in more Realtors, real estate firms may soon start to offer incentives, such as weekly compensation for the first six to nine months, which could allow new agents to pursue a career on a full-time basis.
Some may also fear that the popularity of online real estate websites could render Realtors redundant in the not-so-distant future, but most experts agree that the need for real estate agents will remain constant. In fact, the most successful Realtors at those who have found ways to leverage technology to complement their marketing and sales skills. The internet allows for some powerful marketing capabilities — but only if you use the proper strategy.
What Does a Real Estate Agent Shortage Mean for Me?
For current or soon-to-be real estate agents, the predicted real estate agent shortage could actually bring benefits in the terms of more clients and more listings.
This could mean greater job security and more opportunities for newer agents, who often struggle to get listings when they’re just starting out. So in many ways, now may be the ideal time to get into the industry.
Tips to Grow Your Career With Szablak Consulting Founder and Realtor Judy Szablak
A career consultant like Judy Szablak can provide new real estate agents with valuable insights and recommendations that put them on the path to success in today’s competitive real estate industry. A consultant will not only offer advice and recommendations, but she will also share her valuable knowledge and expertise on topics such as online marketing for Realtors and social media marketing to get leads, to sales motivation tips and other tips to sell more homes!
Aspiring top producing real estate agents may also with consider reading Realtor Judy Szablak’s related article with advice to help you enjoy a long lasting real estate career.
If you’re ready to take your career to the next level or are just starting working as a Realtor, turn to real estate professional and consultant Judy Szablak, founder and CEO of Szablak Consulting and Best Agents Online, LLC. With Judy’s guidance and expertise, you’ll take your career to incredible places, finding success that’s beyond what you believed to be possible!
If you’re a real estate agent who is ready to elevate your sales or if you’re a realty owner or manager who’s seeking a dynamic, expert coach to bring a new element of professionalism to your sales team and your brokerage firm, turn to Realtor Judy Szablak of Szablak Consulting. Call 855.438.5839 or complete the booking form.