No Shortage of Arizona Realtors

The Arizona Republic reports that roughly one of every 80 Arizonans is a licensed real estate agent. Arizona now has more than 72,000 licensed real estate agents.

But Joe Scarp, owner-broker of Phoenician Properties, says "20 percent of the Realtors do 80 percent of the business". The number of agents in Arizona increased 44% in the past three years , but the median income of a new real estate agent during that time dropped 8 percent, to $38,300, according to figures from NAR, ADRE and the Arizona Real Estate Center. This also points out that nearly 50% of our realtors have less than three years experience, so be careful when choosing your next real estate agent in Phoenix!

The article states that with all that competition, buyers and sellers have plenty of options and programs to choose from, including the emergence of discount brokerage. More...