A market in Transition

Some Realtors should find a new profession - so says the Minnesota Association of Realtors (thanks, Inman). So far this year, in the Charlottesville Area Association of Realtors, (most of the top 10 agents are either new construction or condo conversion agents) as of today, 382 agents have had at least 5 “sides” and 201 have had at least 10 (out of ~1300 Realtors). In the Charlottesville regional market, to make a living, I think that one has to have at least 15 sides to make a living.

This is going to be a constant theme for the next six to eighteen months. Think, for instance, about this - in a conversation today with another experienced (~7 years) agent, she said “I still don’t know what it means to be in a Buyers’ Market.” She’s a great agent, and like me, neither of us have known first hand anything other than a strong Sellers’ market. I pull from my parents’ (both Realtors) and other “seasoned” agents, but even that peripheral knowledge cannot replace living and working through the ups and downs. We shall see …

Note: Here’s Greg’s take on this letter.

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October 25, 2006 | Filed Under General Real Estate, Public Perception 

Comments

2 Responses to “A market in Transition”

  1. REALTORS: Do Not Go Gentle Into That Good Night | The Real Estate Zebra on October 26th, 2006 3:42 pm

    [...] I noticed that an open letter to Minnesota REALTORS has been making its way around the blogosphere recently. I first saw it on the Inman Blog, and then Greg Swann had something to say about it. It has been talked about in the Charlottesville area, and again in Arizona. I think the reason that the letter is noteworthy because it appears that the Minnesota Association of REALTORS is doing something contrary to what people might expect. Namely, they are telling many REALTORS to get out of the business. Of course, they expect us to believe that isn’t what they are saying; but if you read the letter, it is difficult to come to any other conclusion. [...]

  2. Real Central VA - Tracking the Charlottesville and Central VA real estate market and more » Charlottesville Realtor and Marketing Stats on December 19th, 2006 4:43 pm

    [...] Charlottesville Realtor and Marketing Stats By Jim Duncan Continuing my ongoing and inconsistent series on the perceived “agent bubble” … [...]