More Work, Fewer Sales, Less Money?

I came across an article from the Idaho Statesman published on 3/27/2011. It's discusses how difficult the real estate business is these days. It truly is; it's not for the faint of heart. Here's an interesting excerpt.


"The number of licensed real estate agents in Idaho has fallen nearly by half, from its peak of 12,994 in 2007 to 6,872 at the beginning of March 2011. Just under half of the remaining agents work in Ada or Canyon county. (There are just under 3000 agents in Ada County and probably about 300 - 400 in Canyon - MH) And some of those active licenses are held by people who have long-since left the professions.

“A lot of them have just parked their licenses,” says Idaho Real Estate Commission Executive Director Jeanne Jackson-Heim.

There are fewer agents — and fewer sales to generate commissions. At the 2007 peak, the Treasure Valley recorded 18,486 sales worth $3.6 billion. By 2010, however, annual sales in the Valley had fallen to 8,819, with a value of $1.3 billion."

So what does this mean for buyers and sellers in today's Boise Idaho Real Estate market? 

In Ada County in 2010, the bottom 1000 agents sold ZERO Homes, the middle 1000 agents sold an average of 1 - 5 homes (by the way, you can't put food on the table by selling 1 - 5 homes unless real estate is a hobby for you), and the next top 1000 agents sold the remainder. So if you did the math, there were 7389 properties sold in Ada County in 2010. The top 1000 agents sold approximately 4900 properties. Applying the 80/20 rule, the top 200 agents sold 3920 properties. or an average of 20 properties. 

The Iron Eagle Realty Team was involved in over 40 transactions last year; so what it all means is that if you want to buy or sell a home, you should engage with a Well Above Average Realty Team (like us ;)) to help you meet your real estate needs in the Boise Real Estate Market. 

Read more: http://www.idahostatesman.com/2011/03/27/1582066/more-work-fewer-sales-less-money.html#storylink=misearch#ixzz1IqqYKepq
The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.
Regards,
Michael Hon
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

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