Question of the Day: How Many Houses Do Real Estate Agents Sell a Year?13535
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 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| Hi All, The WGAN Forum Question of the Day for Friday, 13 November 2020: How Many Houses Do Real Estate Agents Sell?) "The average house is around $225,000. That means an agent would make about $5,000 per house sold if they sold average priced homes. If the average agent makes $40,000 a year that means they sell about 8 houses a year. If an agent is in a much more expensive market they may only have to sell one house to make $40,000 or 20 houses if they are in a cheaper market," says this source on 12 September 2019. Got a source for a different number of listings sold per year? Best, Dan |
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 WGAN Fan Club Member Gilroy, California |
Dataventurer private msg quote post Address this user | |
| There is another way to find out sales volumes for your local area/county. Check with the local MLS (Multiple Listings Service)! And instead of trying to figure out how many houses an agent sells in a year, look at the monthly sales volume for your local area. That will provide a realistic idea of the "pie" in your area. Then go after your piece of it! In my own research as a Coldwell Banker agent to see what kind of media were being used in the listings, I created a table from the MLS for my local area. There were 84 listings on August 18 in my study. I was shocked to find that 33% of the properties selling for over a million dollars DID NOT HAVE A 360 TOUR!?!?!? (last line on the table)  Here are three links to examples of information you might find by searching on your local MLS site. The local MLS posts a monthly summary presentation of real estate stats per county on their YouTube channel. It's easy to subscribe to the channel to receive notifications when the presentations are posted. I watch it every month to get a quick idea of the local market, then use stats of interest to create a monthly market update to my mailing list. https://www.youtube.com/watch?v=vQnwY__FQTI&feature=youtu.be see slide at 1:53 Check the MLS site in the Media section of your local site for other stats: https://mlslpub.blob.core.windows.net/cms-content-assets/media-center/2020/MLSL_MktInd_Snapshot_Oct2020.pdf https://mlslpub.blob.core.windows.net/cms-content-assets/media-center/2020/MLSL_SFH_MarketDataReport_Oct2020_111020.pdf I found these resources within about five minutes on our local MLS site. This info is available to the public. Check your local service to see what they offer. At the least, you should be able to find out the monthly sales number somewhere on the site. Another favorite stat is the average selling price. |
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dave3d private msg quote post Address this user | |
| On sales per agent I think you are missing the boat a bit. Look at NARS info and MLS data in your markets. First - almost 90% of agents fail within 5 years. So most are under 8 houses a year. The upper 10% sell a lot of the homes with the upper 5% selling far more houses than the rest. Agents have to sell about 2M a year to reach income of less than 40K. And that 40K is before expenses. The tour comes out of that income - so if they can avoid it they will. Tours are as much (or more) to get the listing than to sell the house right now. Now too you have companies like Zillow taking 1/3 of the real estate fee in a number of markets. So the number of homes sold by an agent to make the same income is increasing. Another issue is that a lot of the sales agents do have - are for buyers - not listings. Beginning agents, are more likely to be bringing buyers (still called selling a house). Add in, that in this market you have the lowest interest rates in history with no inventory. Houses are going up in price because there aren't many to buy. Double digit increases in price over last year across the US - with the lowest double digit increase in the midwest. So don't be terribly shocked if many don't have tours. And tours per agent isn't the predictor. Your agent market is much smaller than agents in general. I'm not saying tours are down - they aren't - tours are way up with covid. I'm guessing a lot of the tours that are out there are iphone and such and 360 cameras like thetas. I don't have numbers on those counts as percentages of total that I've seen. |
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Expertise private msg quote post Address this user | |
| Average or median?? About half of them don't list and sell anything. |
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Matt19 private msg quote post Address this user | |
| @DanSmigrod Why do you want to know this information? I have heard that 10% of agents do 90% of the work and I believe this to be true. |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
Quote:Originally Posted by @Matt19 @Matt19 Please permit me to answer your question with a question. Hi All, How will knowing "How Many Houses Do Real Estate Agents Sell a Year?" - and related discussed above - help you succeed faster as a real estate / virtual tour photographer? Best, Dan |
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