Why LiveGood is The Ultimate Work-From-Home Solution for Realtors in 2024

Navigating the Real Estate Shake-Up: Thousands of Realtors Adapt Amid Market Shifts

In a landscape where the housing market is returning to normalcy, tens of thousands of real estate agents are reevaluating their roles, marking a significant departure from the surge witnessed during the pandemic.

Realtors, often the frontline observers of market dynamics, are strategically adjusting to the changing real estate climate. With fewer opportunities to capitalize on the housing boom, the profession is experiencing a shift that extends beyond mere numbers.

By the Numbers:

Over the past six months, more than 60,000 real estate agents have left the sector, according to insights from the National Association of Realtors, meticulously analyzed by Reventure Consulting. The count, which stood at approximately 1.537 million in April, has seen a decline from the peak of 1.6 million in October.

The Bigger Picture:

The allure of home-selling professions soared as the pandemic unfurled, driven by escalating prices and increased sales. The Realtor count rose from 1.372 million in March 2020 to 1.531 million in March 2022.

“Historically, surges in home prices attract a flood of Realtors into the market,” observes Reventure Consulting CEO Nick Gerli. “Many see it as a lucrative opportunity to make a quick buck during the housing boom.”

However, the Reality Check:

Sales of existing single-family homes plummeted by 42% from their January 2021 peak to 3.85 million in April 2023. Average annualized Realtor commissions, which hit $84,355 in January 2021, have fallen to $56,632 by April 2023, according to Reventure’s estimates.

Median prices also saw a noteworthy dip of 4.1% ($17,603) from April 2022 to April 2023, marking the most substantial drop in dollar terms and the largest decline since January 2012 in percentage terms, as reported by Redfin.

The rise in 30-year fixed-rate mortgage interest rates, briefly surpassing 7% in late 2022 and remaining above 6% in 2023, has priced some potential buyers out of the market. Gerli comments, “Realtors can’t make as much money anymore; we’re witnessing the initial stages of a Realtor exodus.”

Why Realtors Are Joining LiveGood in 2024

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Why LiveGood Stands Out:

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