The Great Real Estate Agent Bust

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Here is a long term graph of the number of real estate licensees in California. The number of agents peaked at the end of 2007 (housing activity peaked in 2005, and prices in 2006).

The number of salesperson's licenses is off 29% from the peak, and has fallen to 2004 levels. But brokers' licenses are only off 7% and has only fallen to early 2007 levels. Even if activity and prices have bottomed, the number of agents will probably continue to decline.

http://www.businessinsider.com/the-great-real-estate-agent-bust-2012-5

California has about 11.5 million households. Real estate sales people are at 280 thousand, down from 400 thousand. Real estate brokers are at 140 thousand, down from 150 thousand.

Even now there is one real estate professional per 27 households!