Salt Lake Board of Realtors lost approximately 2,600 members from 2008 numbers as a result of hard economic times in the real estate market. This number represents 30% of the associations membership as of December 31,2008; which was the deadline to pay the required fees to continue membership. Other associations around the state are expected to post similar numbers.
Why is this a good thing?
During the real estate heyday of a few years ago, anyone that had a pulse was getting their real estate licence. Everyone had a relative or neighbor, friend or foe that had a licence. It was a financial smorgasbord of real estate money making bliss. As we know, this didn’t last.
Most of the people that jumped in the business to catch the money train, ended up being poor contributors to our profession as Realtors. The weeding out process began in 2008, and now, those Realtors that survived, are the Realtors that were here before the bubble, or were taking the profession seriously from the beginning. They weren’t in in for the fast buck, but for what it represented as the profession it was meant to be.
How does this benefit the consumer?
The remaining Realtor members are the most successful and best educated of the last 10 years. They have paid the price of a successful career through customer service, education and community service. They have created a client base based on referrals and repeat business, and are in the profession for the long term, through all the market cycles, and are committed to the best in service for their clients. These, the Realtors left standing after the storm, are only the strongest, best positioned to meet the challenges of the coming recovery. These are the people you should be seeking as a future buyer or seller.
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{ 3 comments… read them below or add one }
Well, that IS good news. I think you need a chart in your sidebar showing the decline. HA HA! Now the question is how much will the dues go up in 2009 to make up the difference? Not that higher dues are a bad thing. They SHOULD be higher.
Yes, I think they will need to raise our dues in the future, unless we get a lot of backfill from even newer agents. We have to pay for that new building on 90th south, remember.
This trend is certainly reflected in Michigan too. Many agents stand at an important crossroads. There is a tendency in some to stick their heads in the sand and wait for the storm to blow over. I think that is a mistake. This is the time to retool and invest for the future in my opinion.