Too Many San Francisco Realtors?
People are wondering: Are there too many real estate agents?
(Well, mostly this Business Insider article.)
It’s true, becoming an agent is remarkably easy. A few hundred dollars, some light coursework, and you’re licensed in states like California. No college degree, mentoring or apprentice hours required! In some ways, this is a good thing for equity and inclusion. There are many boot-strapped, DIY success stories in real estate.
However, the low bar of entry leaves a lot of room for inexperience, and even incompetence, which can be a big problem since real estate is the largest financial transaction most of us make in our lives. At the risk of sounding biased, there is an enormous difference out there between agents. Being a full-time, career professional worthy of the commission, repeat business, and client referrals takes time, experience, intelligence, social skills and a serious commitment to the art of marketing, pricing, negotiations, operations, and managing interpersonal dynamics and client expectations.
It’s funny when I think back to my early twenties before real estate. My original career goals were lawyer, teacher, and therapist. Totally all over the place, and yet a perfect description of what our Vivre team and I do now…
In 2015, an Inman survey found that real-estate pros considered “low-quality agents” to be the industry’s biggest challenge. Fast forward, and San Francisco now boasts over 5,000 licensed agents, but had under 1,000 active listings as of July according to SFARMLS.
While numerous excellent professional agents exist in San Francisco—many with whom we’ve worked and built great relationships for over 20 years—not all provide the expertise and savvy you deserve. Should the bar be raised? As dedicated career agents, we welcome the challenge.
Regardless of industry changes, service quality will vary. When buying or selling, the best thing you can do is choose a reputable agent aligned with your goals. Dive deeper in our blog: Too Many Agents! How to Spot the Best San Francisco Realtor (and Avoid the Rest).
On a somber note, we are heartbroken to witness the deadly wildfires on Maui. If you feel compelled to help out, the Hawaii Community Foundation’s Maui Strong Fund is the place to donate, with 100% of contributions going directly to community needs.
As always, please don’t hesitate to reach out with any real estate questions. We are happy and grateful to assist you and anyone you send our way!
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