Can’t Take a Step Without Meeting a Realtor?

In New York City, at least, it sometimes seems that way. Not long ago, we wrote a column about how a real-estate boom actually lowers median Realtor income because of all the new agents who rush in to join the boom.

Homethinking.com, a new website that allows customers to rate Realtors, has posted an interesting item on Realtor density. It shows how many Realtors there are per capita in the 25 most expensive real-estate markets (as identified by CNN). Here’s a sample:

City/People per Realtor:

Bethesda, Md.: 37
Newport Beach, Ca.: 45
Greenwich, Ct.: 73

Unfortunately, Homethinking doesn’t yet have data for NYC. But according to the website, Miami — which didn’t make the list of the 25 most expensive cities — has one Realtor for every 17 people. No wonder the sales of Freakonomics have always lagged in Miami.


zbicyclist

Following the link provides this definition: "...real estate agents per person (as defined by someone who bases themselves in that city or has managed a recent listing/sale there)."

This seems to mean that a realtor who handled listings "recently" in 4 cities would count in all 4. The multiple counting creates an overstatement of the problem.

kkwan

Ha! Greenwich, CT. I used to live there. Everyone and their sister was an agent. Helps that proceeds from one sale already propels you into the top 20% of income earners in the USA.

I'd be more interested in the number of active agents. A lot of people obtain licenses because of the low cost of entry and never utilize it.

patik

Interesting, I just happened to see this article which lists NY as the 49th state in housing growth.

http://www.nyjournalnews.com/apps/pbcs.dll/article?AID=/20060822/BUSINESS01/608220340/1066

RobertI

There seems to be a strong relationship between areas in the country with historically high appreciation rates and a high per capita realtor rate. So, it seems Mr. Levitt has made the argument that real estate agents create high appreciation rates. Thanks, it is nice to get such support from the neo-gump economics movement in this country.

dmozzy

Very many agents under the real estate became valid

zbicyclist

Following the link provides this definition: "...real estate agents per person (as defined by someone who bases themselves in that city or has managed a recent listing/sale there)."

This seems to mean that a realtor who handled listings "recently" in 4 cities would count in all 4. The multiple counting creates an overstatement of the problem.

kkwan

Ha! Greenwich, CT. I used to live there. Everyone and their sister was an agent. Helps that proceeds from one sale already propels you into the top 20% of income earners in the USA.

I'd be more interested in the number of active agents. A lot of people obtain licenses because of the low cost of entry and never utilize it.

patik

Interesting, I just happened to see this article which lists NY as the 49th state in housing growth.

http://www.nyjournalnews.com/apps/pbcs.dll/article?AID=/20060822/BUSINESS01/608220340/1066

RobertI

There seems to be a strong relationship between areas in the country with historically high appreciation rates and a high per capita realtor rate. So, it seems Mr. Levitt has made the argument that real estate agents create high appreciation rates. Thanks, it is nice to get such support from the neo-gump economics movement in this country.

dmozzy

Very many agents under the real estate became valid

Jim Esposito

Some of these sites are okay, but often you can find better local listings by going through the website of a local realtor like http://www.fortlauderdalebeachproperty.com