Minnesota is the land of 10,000 lakes, and according to RISMedia’s annual Power Broker Report & Survey is is also that land of 22,409 Realtors.
It looks like we also sell a lot of real estate.
The Land of 20,000 Realtors
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glad to see Virginia is right up there, too! No rest for the weary…
Those figures are mighty low.
I know for a fact that Georgia has FAR more agents than that!
I suspect Minnesota does, as well.
Those numbers seem really low to me too. According to the Arizona Department of Real Estate, there are 47,000 licensed real estate agents and brokers in the greater Phoenix metro area…
http://www.phoenixrealestateguy.com/there-are-a-lot-of-real-estate-agents-out-there/288
It isn’t my data. I think I read somewhere that there are 30,000 licensed agents in Minnesota. Maybe they just counted the licensees that are actually selling real estate.
I’m trying to figure out how minnesota has
more selling sides than Texas, whose pop.
is 21,000,000+, and which is growing exponentially. Almost twice as many deals than smoking florida, boom OR bust, and almost twice as much as neighboring Illinois, which includes the nine-million
plus Chicago metro. I can see the twin
cities accounting for a fair share of sales,
but its an only 3 million million metro,
and all you have outside of the TC is Rochester, St. Cloud, Duluth, and a handful of other small cities. I know Minn isn’t growing much, if at all, and investors certainly aren’t flocking there in droves from outside the state, so where in the hell did the 200,000 sides come from? If that is the case, a VERY high % of existing homes were sold,
and/or new construction, vis-a-vis the other top ten states. As the others said,
something seems very wrong in the statistics for both maps……
Interesting graphics.
Some might quibble about the exact statistics here, but let’s not get to nit-picky. The obvious fact is that the market is flooded with real estate agents, and there are more agents than buyers. Most of us who have been in the business for a while have known this for a number of years, and have seen this phenomenon just get worse.
You have to wonder why the MAR has not taken any decisive measures to stop this trend. I have suggested to the MAR that they should lobby for tougher licensing requirements; the license exam, for example, could certainly be beefed up to help slow this trend down. This was met with howls of protest about how we “need to be fair to the people who are trying to get into the business!” I wonder how flooding the market with less qualified agents is being “fair” to the consumer. I also wonder how this is being “fair” to member REALTORS who have been paying thousands of dollars in dues over the years.
How many other professional or trade associations would allow this sort of market to develop? I cannot envision the AMA allowing the number of practicing physicians to exceed the number of patients needing care. I cannot imagine that the electrician’s union would allow the number of electricians to exceed the number of active customers by a factor of two or three times!