The report said that the number of aspiring realtors has climbed by as much as nearly 100 percent in states like Florida and California. In Florida alone, the number of license applicants has “almost doubled” from 23,863 in 2010 to 40,901 in 2013. California also saw its number of license takers double since 2012.
Nevada also had a 23 percent increase in real estate exam takers last year.
Citing data from the National Association of Realtors, the report also said that the association added 42,000 new member agents last year, marking a first-time increase in seven years.
Even though there are signs that the market have slowed down, the U.S. real estate market has strongly recovered from the housing crash that shook the economy. The Wall Street Journal reported that the Dow Jones U.S. Real Estate Index jumped 92 percent since 2009, even though it has failed to outpace S&P 500 index.
“But it's an impressive recovery for a sector devastated by a historic slump starting in mid-2007,” the Journal noted.
According to the Case-Shiller index, home prices in the country surged by 9.3 percent in May from last year, but that failed to exceed industry expectations.
Advantages and Disadvantages of Becoming a Realtor
Tampa Bay Times noted that aspiring real estate agents are enticed to enter the industry due to the job’s relatively easy requirements and short learning curve. Training to become an agent is also affordable with course and licensing fees averaging at no more than $1,000.
However, becoming an agent has its downsides as well, according to Tampa Bay Times. “Selling real estate is a difficult job with long hours. Studies show that most new agents quit with no or few sales,” the report said.
But for those who persevere, the returns are rewarding. NAR said that realtors earn $47,700 in 2013 on average, up from $43,500 in 2012.
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