Agents Face Growing Competition in 2017!
SoCal home sales are the highest in 8 years,and so are industry revenues but so are the number of agents entering the industry.
Thru Sept. 2016, $55.7 billion dollars have been generated by all SoCal home sales.
In Orange County, this year’s dollar volume is generated by combined home sales hit $18.9 billion up 83% from 2009. In LA County, home sales revenue totaled $24.5 billion,up 78% from 2009.
In San Bernardino, revenue totaled $5.5 billion this year, up 52% from 2009. Riverside County increases were up 25% to $6.8 billion from 2009.
But the number of offices is also way up! Southern California real estate brokers have opened more than 1,000 new offices from 2009 through 2014, raising the total to 6,287. Source: U.S. Census Bureau
R.E Offices Increase from 2009
Orange County: 1,690 (28%)
Los Angeles County: 3,478 (21%)
Riverside County 680 (11%)
San Bernardino County 439 (11%)
Southern California 6,287 (21%)
Entire State of Calif. 13,681 (16%)
From the highs of 2006-2009, the number of agents has also risen.
New Real Estate Licenses Issued Source: Calif. Bureau of Real Estate
So whats the answer to increasing your bottom line?
The answer to increased completion is threefold.
The first is “continuing education” thru your local R.E. board which will avail you to education, cutting edge technology, and networking opportunities with your contemporaries.
The second is becoming a licensed broker; becoming a broker gives you more credibility with your buyers / sellers, and upward mobility often translating into better commission splits.
The third is developing better marketing info. In today’s market your clients have access to as much info as you do.
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It’s tempting to rely on “glitzy” (and expensive) marketing materials to brand yourself. Glitz can get a client’s attention but accurate and hard information (data and statistics) gets signatures on contracts.
No Gimmicks. No Hidden Fees.
Contact us for our listing rate of 1.5% commission and save!