A Realtor® is a member of the National Association of Realtors. When home sales increase people become more interested in careers in real estate. Membership in NAR peaked in 2006 at over 1.3 million and then fell to just below a million in 2012.
We are back up over a million nation wide with about 13,300 members here in Minnesota. It doesn’t take long to get a real estate license and start a career in real estate but the failure rate among new agents is high. Working on a 100% commission basis isn’t for everyone. When home prices go down so to real estate commissions.
The chart shows the dollar volume of home sales each year in St. Paul. Home prices are rising but we are not seeing the prices we saw a decade ago.