Realtor Ranks Exploding - Business Insider

Here's a sign the housing market is maybe, possibly, overheating: the number of people becoming realtors is surging.

ChicagoGrid.com's Emmy Storms reports the Chicago Association of Realtors added 600 new members this spring, at a rate of 75 to 100 enrolled each month.

Meanwhile, Miami Association of Realtors vice president Lynda Fernandez says there's been a 25% increase in the growth rate for new members, from to 3,800 YOY from June 2012 to this year, compared with 3,000 for June 2011-June 2012. She said only a small percentage were likely to be transfers from other associations.

Chicagoland housing market analyst Gary Lucido, who linked to Storms' post, blogs that this puts us in deja-vu territory:

During the height of the real estate bubble every doorman, bar tender, and tax driver became a real estate agent so they would have a ticket to earn the outrageous commissions from friends, family, and casual acquaintances. ...

Flash forward a few years and we're almost back to those golden days, though the licensing standards are a tad more rigorous (but not much more) and money isn't exactly easy.

Given that inventory remains constrained in most parts of the country, the figures are only likely to increase.

Source: http://www.businessinsider.com/realtor-ranks-exploding-2013-7

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