Here come the new agents! 15 new real estate agents added per month in Washoe County

Licensee Statistics - January 2015Frequent readers of this blog know that I periodically report on the number of real estate licensees in our area as well as across the state. I report these numbers as they’re released by the State of Nevada’s Department of Business & Industry’s Real Estate Division — roughly twice a year.

The last time I reported the numbers (October 2014), I noted how “Washoe County [saw] an increase in its agent count for the first time since the housing bubble burst. Washoe County’s number of Active real estate licensees totaled 2,455 in August — a 1 percent increase over March’s 2,431 Active licensees.” [See Washoe County real estate licensees increase for the first time since the collapse of the housing bubble – October 2014]

I also remarked to expect this increasing trend to continue. Well, the most recent numbers (for January 2015) have been released from the state’s Real Estate Division and not surprisingly they are up.

The total number1 of Active real estate licensees in Washoe County climbed to 2,531 in January 2015. [See Washoe County table below.] This number is a 3.1 percent increase over the 2,455 licensees reported in August 2014. Or roughly 15 new real estate agents per month entering the business.

In comparison, statewide, the total number1 of Active real estate licensees in Nevada climbed to 20,544 in January 2015. [See Nevada table below.] Interestingly, this number represents only a 0.7 percent increase over the same time period – a much lower rate of growth across the state than compared to that of Washoe County.

With all the positive press of late regarding new businesses entering our market and the wild projections of the number of new jobs to be created over the next few years, it doesn’t require much analysis to assume that real estate sales would present a potential for high growth and returns as well.

That being said, the field of real estate sales has a notoriously high rate of attrition — particularly among those new to the industry. Google “dropout rate for real estate agents” and you’ll find a variety of sources quoting anywhere from a 75% to 90% dropout rate. Some of these new agents leave the business relatively soon after entering; some last a little longer — but one statistic that seemed to reported was that 80% last only two years, or less.

Given these statistics it’s a certainty that we’ll see the number of Inactive licensees2 increase as well. In fact, January’s total number of Inactive real estate licensees in Washoe County climbed to 659 — a 4.8 percent increase over the 629 Inactive licensees reported in August. Or the equivalent of six licensees per month leaving the business.

Welcome new agents and good luck!

1 The total number includes those licensees holding “broker”, “broker-salesperson” and “salesperson” licenses.
2 Inactive Licensee – current licensees who have chosen to place their license “on hold” for an indeterminate amount of time until they decide wether to re-active their license or not. If a licensed is not renewed by the renewal date it expires. For more info see the Nevada Real Estate Division’s Inactive Licenses – FAQs

Active Inactive Total
Washoe County Licensed RE Agents and Brokers
January 2015 2,531 659 3,190
August 2014 2,455 629 3,084
March 2014 2,431 601 3,032
November 2013 2,460 538 2,998
April 2013 2,490 543 3,033
September 2012 2,506 555 3,061
May 2012 2,517 587 3,104
January 2012 2,537 623 3,160
June 2011 2,574 699 3,273
February 2011 2,578 744 3,322
March 2010 2,644 803 3,447
November 2009 2,737 779 3,516
September 2009 2,737 796 3,533
August 2009 2,725 817 3,542
March 2009 2,770 1,022 3,792
December 2008 2,888 1,001 3,889
September 2008 2,791 1,011 3,802
June 2008 2,984 1,085 4,069
January 2008 3,104 1,142 4,246
October 2007 3,176 1,134 4,310
August 2007 3,229 1,137 4,366
June 2007 3,221 1,237 4,458
April 2007 3,166 1,304 4,470

 

Active Inactive Total
Statewide Licensed RE Agents and Brokers
January 2015 20,544 5,020 25,564
August 2014 20,403 4,671 25,074
March 2014 19,710 4,101 23,811
November 2013 19,484 3,937 23,421
April 2013 19,719 3,704 23,420
September 2012 19,832 3,642 23,474
May 2012 19,925 3,855 23,780
January 2012 19,987 4,264 24,251
June 2011 20,395 4,861 25,256
February 2011 20,744 5,276 26,020
March 2010 22,139 5,652 27,791
November 2009 22,612 5,802 28,414
September 2009 22,865 5,943 28,808
August 2009 22,920 6,066 28,986
March 2009 23,466 7,448 30,914
December 2008 24,327 7,457 31,784
September 2008 23,814 7,345 31,159
June 2008 25,986 7,518 33,504
January 2008 26,997 7,470 34,467
October 2007 28,115 6,970 35,085
August 2007 28,548 6,988 35,536
June 2007 28,763 7,418 36,181
April 2007 28,886 7,723 36,609

Source: Nevada Real Estate Division

Related post: Washoe County real estate licensees increase for the first time since the collapse of the housing bubble (October 11, 2014)

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