Now that the easy mortgage money is flowing like mud around the country, the upbeat optimism that persists in the real estate sales professional may also be starting to wane. Too many realtors running down too few qualified buyers.
The California Association of Realtors is forecasting a year-end count of 185,000 members compared with more than 199,000 last year:
Badagliacco said she knows people like to "poke fun at the Realtor in the nice car," (like Markus Arelius at Rancid Truth blog!) but she expects there to be fewer objects for pokes and jokes in coming years.
In California, where home sales continue to decline, between 110,000 and 140,000 agents are sustainable long-term so she expects bigger drops in membership in the next two years.
Due to the national downturn in the real estate industry, the National Association of Realtors predicts a 4% decline in realtor ranks in 2007.