- The National Association of Realtors (NAR) membership suffered a 1.4 percent decline in the year concluding in October.
- The take-down in membership numbers drew a direct parallel to local housing stats, indicating that realtors might be stepping out due to the existing housing conditions.
- Findings from a comprehensive state-by-state analysis by Intel exposed this rather intriguing correlation.
Hot Take
So, the fancy suit-and-tie real estate fellows at NAR are dropping like the stock market crash of ’29, eh? By a majestic 1.4 percent in the homely confines of just one year, might I add. Now, we may have a non-x-ray vision (curse), but it looks suspiciously like our chirpy real estate people are scurrying away at the mere sniff of changing housing market winds. Yikes!
This fascinating revelation came courtesy of those smartypants folks at Intel. Behold, the majestic power of analysis! Who knew running a fine-toothed comb through state-by-state data could reveal such laugh-out-loud, oh-no-they-didn’t trends? Apparently, our lovely NAR members have been making helter-skelter exits, taking their gavel and gong with them. Naughty!
Moral of the story? Even the “sold-it!” screamers and “you’re darn tootin’ this property is a steal!” persuaders are not immune to the effects of the market – or the occasional reality check. Not sure if I should laugh or feel sorry for these guys, but hats off to them for walking away when the going gets tough. Who knows? Maybe they’ve gone off to start their own avocado toasts cafes or fancy craft beer breweries…
All hail the Power of Analysis!
Seriously though, isn’t it intriguing how a thorough state-by-state analysis has thrown the real estate industry into a mini tizzy? It’s like watching an episode of ‘Real Estate Survivor’ unfolding in real-time. All we need now is some over-the-top dramatic music and slow-motion exits.
No hard feelings towards our dedicated realtors, though. After all, they’re just trying to make a living in this wild, wacky world of bricks and mortar. Plus, that 1.4% hit is really not that big when you add some perspective to it. In a challenging environment, the survival of the fittest rule applies and the real estate industry apparently isn’t any exception.
And What Next?
While we may enjoy a hearty chuckle at the NAR membership’s expense, we mustn’t lose sight of the bigger picture. It’s clear that the failure to adapt to shifting market conditions can be detrimental. On the flip side, we should probably raise our glasses (filled with craft beer made by our ex-realtors, of course) to those who are flexible and agile enough to newcomers in these tricky territories.
Until then, ladies, gentlemen, and real estate gurus: grab your popcorns, fasten your seatbelts, and stay tuned for the next episode of ‘When Realtors Retreat’. It promises to be a riveting watch!
Original article: https://www.inman.com/2023/12/06/nar-enrollment-fell-in-2023-heres-where-membership-rose-and-why/
