Agents getting rich...

[Richard F.]

There were some interesting stats in this month's "Hawaii Realtor". I realize they do not accurately reflect all markets, but nonetheless I feel they illustrate an important point.

Currently, we have approximately 20,000 licensees. For the twelve month period ending Sept. 30, 2007, for single family homes and condos listed through the MLS, 39% of licensees did not close a single transaction. 27% closed 2 or less, 12% closed 3-4, 14% closed 5-9 transactions, and 8% closed 10 or more sales.

(As an aside, according to the Honolulu Board of Realtors, there were 1,366 condo sales and 975 single family home sales in the third quarter, for a total sales volume of $1.311 billion. Median price was $649,900 for sfh, and $330,000 for condos.)

To recap, 78% had 4 or fewer sales over a twelve month period.

All licensees are not created equal. You can not assume that just because someone is an agent, that they should be able to provide you the service you need. Experience is the best teacher, so whether you are looking for an agent to help you find properties, or if you are looking for a PM, keep this in mind!