73 Percent Of Homes Sold Involved A Tallahassee REALTOR®
With all of the homes for sale in Tallahassee, do you ever wonder how many are being sold with or without a Tallahassee REALTOR®? This is something that I track on a regular basis to get a feel for both the effectiveness of Realtors as a group, as well as an indication of "consumer confidence" for real estate professionals.
Long time readers of the Tallahassee Real Estate Blog know that I track a ton of data for reports on home sales in Tallahassee. I rely on two key sources of information for my reports - The Tallahassee MLS helps me produce supply and demand information, while the Leon County Property Appraiser maintains information on all property transfers, some of which do not involve a Tallahassee real estate agent. By comparing these two sources, we can establish just how active the Tallahassee Realtor community is in selling homes.
In the real estate graph above, the red area represents all home sales in Tallahassee, while the area shaded with the Tallahassee Board of REALTORS logo represents the "subset" of all home sales. The yellow line shows the Tallahassee REALTOR share of the housing market, which currently is running around 73%. So does this mean that Realtors are involved in roughly 3 out of every 4 home sales?
Actually, it means that at a bare minimum, a Tallahassee Realtor was involved in the sale of 73% of all homes sold in Tallahassee. This graph only plots information in the Tallahassee MLS versus all homes sold, so it does not consider homes sold by Realtors that do not make it into the MLS. Often times, we sell a home before it makes it into the MLS, and many firms consider it a waste of time to enter these sales into the system. Of course, all home sales recorded in Leon County make it to the "red area" in the graph above. I would think that more than just a handful of sales are included in this un-tracked segment.
Tallahassee REALTOR® Production
I am always amazed at how low the average agent production is in real estate. Currently, the average agent in Tallahassee is selling fewer than 4 homes each year, and this is consistent with national averages as well.
There are a lot of misconceptions about how much money people in the real estate brokerage business earn every year, and I can tell you that 3.7 homes per year (at a current average sales price of $160,000) rewards the average agent with an annual take-home pay of about $8,800. This little known fact is pretty darn important if you want to sell a home in Tallahassee!
In the real estate graph above, the blue vertical lines show the average number of Realtors in Tallahassee each month, while the red line shows their average annual production (number of homes sold each year). Currently, there are 1,145 Realtors in Tallahassee who average 3.7 home sales each year.
Choose A Tallahassee Realtor You Can Trust
If you are thinking about selling a home in Tallahassee, can you see how all real estate agents aren't the same? You might not be too concerned about the average annual production of a real estate agent, but when you are in a market where nearly 60% of all homes listed for sale are failing to sell, you will want an experienced, productive Tallahassee REALTOR to guide you to the successful sale of your home.
If you would like a confidential interview to explore your home selling options, feel free to drop me a note at any time and we will schedule a time to meet and demonstrate how our targeted home selling plan can get your home sold in two weeks or less!