How changes in the market have affected real estate agents

How has the real estate downturn affected real estate agents? The graph below paints a clear picture. It shows Dane County home and condo sales (in millions of dollars) dating back to the year 2000.




You'll see 2005 was the grand daddy of all years, with Dane County home and condo sales totaling $1.94 billion. That's the year everyone and their uncle was in real estate.

Home and condo sales decreased steadily thereafter to $1.247 billion in 2009, a 36% decrease from the peak year of 2005. That 36% decrease is a good proxy for how much annual commission dollars have decreased since 2005. In reality, commission dollars have probably decreased by more than 36% due to the compensation structures for some of today's listings.

All of this negative news means it's a great time to be in real estate. There are plenty of opportunities right now for real estate professionals who have a long-term focus and a commitment to service.

It's also a very rewarding time to be in real estate. Many of today's clients want someone they can trust who will help them successfully navigate today's complex market. And then there are those clients who are in a really tough spot and need help getting out of a challenging situation.

This year promises to be another year full of challenge and opportunity. We're very much looking forward to embracing the next 12 months and growing our business once again.

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com