Sokanu rates Real Estate Agents with a D employability rating, meaning this career should provide weak employment opportunities for the foreseeable future. Over the next 10 years, it is expected the US will need 33,000 Real Estate Agents. That number is based on 9,400 additional Real Estate Agents, and the retirement of 23,500 existing Real Estate Agents.
Demand for Real Estate Agents
Employment of real estate agents is sensitive to swings in the overall economy, the health of the real estate market, and especially to fluctuations in interest rates. As economic activity declines and interest rates rise, the volume of sales and the subsequent demand for agents falls.
This occupation is relatively easy to enter, allows for flexible working conditions, and offers high earnings potential – factors which historically attracted retired people and those seeking part-time careers. However, increasingly complex licensing and legal requirements associated with the industry are reducing the number of part-time agents. New entrants to the field naturally face intense competition from their experienced counterparts. Increased technology, which is improving the productivity of established agents, may also impact the rate at which new agents succeed in the field. In general, growing housing needs, perception that real estate is a sound investment, and low interest rates should continue to stimulate real estate sales and the job market for agents. Well-trained and motivated entrants with sales savvy and social and business connections in their communities stand to have the greatest success.
Supply of Real Estate Agents
The Real Estate Agent industry is not particularly concentrated in any state.
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