Realtors® and Dead Cats: What does your market look like?

By
Commercial Real Estate Agent with Contour Investment Properties

I've been hearing how easy it is to hit a Realtor® by swinging a dead cat, so I thought I'd do a little research. I couldn't find a source that tracked dead cats, so I focused on the number of Realtors instead. In Hawaii, there's a licensed Realtor for every 161 people, but in West Virginia you'd need to whack 648 people with that cat to be sure you hit a Realtor.

I looked up the stats for my local market, Jackson Hole, WY, and WOW! Just over 400 licensed Realtors belong to the local board, and the year-round population here is just 20,000. That works out to be one Realtor per 50 people in Jackson Hole, WY! It was even worse in 2008, when there were some 1,000 licensed agents, making the ratio an astounding 1 Realtor per 20 people. One in Twenty. Think about it. Now that's competition.

Or is it? 60% of those agents have disappeared in the past two years, as the real estate market collapsed. How much business did they really do? How many were part timers, listing only family property, or getting a license because the business seemed so easy?

What does your market look like?

Realtor to Population Ratio 2010

Posted by

Tim Bradley
Owner/Broker
Contour Investment Properties
172 Center Street, Suite 200
PO Box 1152
Jackson, WY 83001
(307) 733-6400
www.contourproperties.com

CCIM logoTim Bradley is an owner of Contour Investment Properties, the only brokerage firm in Jackson exclusively focused on commercial and investment property in Jackson Hole and Teton Valley. Tim has earned the MAI designation from the Appraisal Institute as well as the CCIM designation from the CCIM Institute.

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Joe Kenny 06/12/2011 11:21 PM
  2. Bob & Leilani Souza 06/23/2011 01:26 PM
Topic:
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Location:
Wyoming Teton County Jackson Hole
Groups:
Posts to Localism
Realtors®
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"Whacked"!!!
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Show All Comments
Rainmaker
1,229,716
Al & Peggy Cunningham Brokers, Brampton Ontario Homes For Sale 905-450-5500
RE/MAX Realty Services Inc. - Brampton, ON

And the numbers keep changing....here on the Toronto Real Estate Board, we are swinging at 30,000 agents Tim.

Jun 19, 2011 08:11 PM #12
Rainmaker
948,282
Bob & Leilani Souza
Souza Realty - Roseville, Rocklin, Lincoln, Loomis, Granite Bay, Penryn, Newcastle, Auburn, Meadow Vista (California) - Roseville, CA
Placer County, CA: Foreclosures, Auctions, Rentals

Tim, your blog post sure was a catchy one! I'm glad this post wasn't really about dead cats, though. :)

Interesting...I would have thought California would be higher on the list.

Leilani

Jun 22, 2011 09:25 PM #13
Rainmaker
255,968
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Leilani, California is still in the top 7, and I'm sure certain markets in California are pretty saturated.

Jun 22, 2011 10:38 PM #14
Rainmaker
436,991
Richard Yates
Mission Viejo, CA
Broker and Realtor Orange County, California

Tim, This was a very interesting report.  Perhaps there was a Shadow Inventory of Agents, that simply disappeared.  I have always believed that 10% of the agents are doing 90% of the business.  That has always been the case in my office.  It is probably also true, that 10% of the bloggers are writing 90% of the blogs on Active Rain.  What do you think? 

Jun 24, 2011 02:20 AM #15
Rainmaker
180,327
Brenda Whitman
CENTURY 21 Real Estate Center, Inc., Laramie, Wyoming - Laramie, WY
Associate Broker, Laramie, Wyoming

Great numbers, Tim!  Of course, your narrative is what makes it really fun!

Jun 24, 2011 05:20 PM #16
Rainmaker
255,968
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Richard, I suspect you're right. The same names that have been in the business, making a good living, for the past couple of decades, are still here, still working, and still making a good living. The other 80-90% come and go...

Nice of you to say so Brenda, and good to see ya!

Jun 24, 2011 11:24 PM #17
Ambassador
839,130
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Tim, what a great post. I had no idea what the numbers were. We could lose a few more and it wouldn't hurt anything!

Jun 26, 2011 12:23 PM #18
Anonymous
Anonymous
Anonymous

Out of all those Realtors in California, I had to choose one of the bad ones. I’m tempted to see if she is still in business.

I had no idea that there are states with fewer people than those who call the City of San Diego their home!

Jun 30, 2011 02:23 AM #19
Rainmaker
255,968
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Hi Connie, thanks for stopping by. It is an eye-opener, isn't it.

Eric, sorry you had a bad experience. Here's a link to look up and see if a particular person is licensed in California... http://www2.dre.ca.gov/PublicASP/pplinfo.asp You've landed in a great place with Russel though! Say hi to Russel for me.

Jun 30, 2011 08:35 PM #20
Anonymous
Anonymous
Anonymous

Just stopped by to say that I

Happy Fourth of July!

Jul 04, 2011 03:36 PM #21
Rainmaker
896,676
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

I guess West Virginia is the place to hang your license. 

Jul 17, 2011 10:19 PM #22
Anonymous
Anonymous
Anonymous

Happy Friday!

Aug 05, 2011 07:23 PM #23
Anonymous
Anonymous
Anonymous

Tim I love your blog post why important to have a niche you specialize in therefore higher % of clients ;p

dallas homes for rent by owner dallas houses for rent by owner lynn911.com

Aug 10, 2011 01:55 PM #24
Rainmaker
255,968
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Thanks for stopping in Russel, Jane and Lynn!

Aug 13, 2011 08:44 PM #25
Anonymous
Anonymous
Anonymous

Oh, Tim? Where are you? I hope you're not having too much fun there in JH.

Happy Wednesday!

Aug 17, 2011 07:49 AM #26
Rainmaker
1,108,389
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

When I started in August 2005, my mom said, "But there are so many of you!" So many of them are not here in August 2011. I am!

Aug 31, 2011 11:10 PM #27
Rainmaker
255,968
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Russel AND Jim?? Hi guys! Thanks for stopping by, and I'll be posting again soon, I promise...

Aug 31, 2011 11:54 PM #28
Rainmaker
622,668
Sandy Shores Broker, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County FL Real Estate

Tim, Very interesting post. I remember at the peak of the market, everybody had a real estate license, because it was sooo easy.  We went from about 1000 Realtors to over 4000 in a couple of years.  Each new agent was good for one or two transactions.  It was crazy back then.  Now we are back down to under 1600, I believe.

Sep 15, 2011 04:48 PM #29
Rainmaker
338,965
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley R since 1976;408-565-8177

Your featured post brough me over here.  I like the title.  Our State Association reported that there was 1 licensee per 54 adult Californians.  That may be right because many licensees are not NAR members.

Here's the old joke

Guy walks into a liquor store to cash a check.

The clerk asks to see his Real Estate license.

Guy says: "Real estate license?? Don't you mean my 'Driver's License'"

Clerk says: "Well, not everyone has a Driver's License.

haha

Sep 16, 2011 03:14 PM #30
Rainmaker
365,365
Cathy Bureau
www.GreenHomeRealty.com - Alamo Heights, TX
Your Personal Real Estate Concierge

Tim, that's too funny!  I see Texas isn't too bad. I knew Hawaii was ridiculous, and I assume the others are high too with their huge bubbles.  I think in San Antonio there are 7,000 registered with the board with a pop of 2.2M for the greater MSA.  Austin has twice as many Realtors and half our population!  Have a good week!

Nov 02, 2011 03:34 AM #31
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Rainmaker
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Tim Bradley

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