There are currently an estimated 348,800 real estate agents in the United States. The real estate agent job market is expected to grow by 5.8% between 2016 and 2026.
How employable are real estate agents?
CareerExplorer rates real estate agents with a D employability rating, meaning this career should provide weak employment opportunities for the foreseeable future. Over the next 10 years, it is expected the US will need 24,100 real estate agents. That number is based on 20,200 additional real estate agents, and the retirement of 3,900 existing real estate agents.
Are real estate agents in demand?
Employment of real estate agents is sensitive to swings in the overall economy, the health of the real estate market, and especially to fluctuations in interest rates. As economic activity declines and interest rates rise, the volume of sales and the subsequent demand for agents falls. This occupation is relatively easy to enter, allows for flexible working conditions, and offers high earnings potential – factors which historically attracted retired people and those seeking part-time careers. However, increasingly complex licensing and legal requirements associated with the industry are reducing the number of part-time agents. New entrants to the field naturally face intense competition from their experienced counterparts. Increased technology, which is improving the productivity of established agents, may also impact the rate at which new agents succeed in the field. In general, growing housing needs, perception that real estate is a sound investment, and low interest rates should continue to stimulate real estate sales and the job market for agents. Well-trained and motivated entrants with sales savvy and social and business connections in their communities stand to have the greatest success.
What’s the supply of real estate agents?
The real estate agent industry is concentrated in Florida, Texas, Georgia
Real Estate Agent job market by state
|State Name||Employed Real Estate Agents|
|District of Columbia||620|