Carnival of Real Estate
Check out this week’s carnival at Real Estate Investing for Real. He put a new spin on the festivities, only selecting posts that spoke to “real people”, versus real estate beltway insiders. Interesting spin; and we’re all for being interesting!
Here’s a stand out quote from one carnival winner, on whether or not there is an agent bubble:
To put things in perspective, consider that in Silicon Valley, approximately 22,000 resale properties sold for the first 9 months of 2005, whereas a little over 16,000 did so during the same time period in 2006. With a reported 26,000 licensed real estate brokers in the county, with say half of them assumed to be actively in business, then that would suggest that an estimated one sale per broker was generated for the first 9 months of the year. With an average of $700,000 per property and a 3% commission, we’re talking about each agent grossing $21,000, but with their employing brokerages taking half as commission, particularly for newer agents, then the gross would only amount to a paltry $10,500 for 9 months work.
Fuzzy math? Inactive licenses? Read on at the Digerati Life.
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Joshua Dorkin said,
November 27, 2006 @ 3:09 pm
Hey! Glad you like the “spin” we put on this week’s carnival. Thought we’d change it up a bit.
All my best,
Joshua Dorkin
BiggerPockets.com
The Digerati Life said,
November 28, 2006 @ 7:28 pm
Just want to say hello and thank you for viewing my post!