How Many Real Estate Agents Are There And How To Fine a Good One?

According to the latest estimates by the National Association of REALTORS® (NAR), there are approximately 2 million licensed real estate agents in the United States.  Last year, according to the NAR, there were a total of 5.341 million existing homes sold which equates to one agent for every 2.67 homes sold during the year in the U.S.  Wow, talk about competition!  Granted, not all licensed agents sell residential real estate as many focus us on commercial real estate, including industrial, retail, office, multi-family, and land, and others focus on farms, large tracts of land, recreational property, etc.  Nonetheless, there is still a lot of competition in the real estate industry.

As of last month, there are 1,327,880 real estate agents that are members of the National Associaton of REALTORS® (NAR) and, according to a survey done by NAR of its membership, 70% of their members (929,516) list residential real estate brokerage and their primary field of practice.

How to choose a good real estate agent….

One question that is frequently asked by people interested in buying or selling a home is how should they choose a real estate agent?  You can find extensive information on how to choose a good agent at AvoidBadAgents.com, but below is a list of questions to consider asking an agent you are considering working with:

  • Are you a full-time real estate agent?
  • Are you a REALTOR®?
  • How long have you been an agent?
  • What professional designations and industry awards have you received?
  • How do they communicate?
  • Do they know technology and does their firm use it for your benefit?
  • Ask to be walked through the sales transaction.