Real estate is hot. But you know that. It’s been in all the newspapers. With so much talk about who is selling what to whom and where, it should come as no surprise more Texans are signing up to become real estate agents.
In May alone, the Texas Real Estate Commission (TREC) issued 16,216 sales agent licenses, slightly more than the same month last year. That brought total Texas active sales agents to 101,382.
If you think that’s a lot of folks trying to get a share of the real estate pie, you’re right. But that’s only part of the picture. Texas also has 43,343 active real estate brokers. With an estimated state population of 27.9 million served by 144,725 real estate licensees, that means there is one real estate agent for every 193 Texans of all ages—renters and homeowners alike.
But, wait. If there are 16,000 new licensees being signed up each month, why aren’t they as thick as fire ants? That’s because 10 percent of the real estate agents make 90 percent of the money. Many new agents don’t make it past their first license renewal, which comes after two years.
The old adage that the three most important ingredients to the real estate pie are location, location, and location, also applies to where a licensee sets up shop.
WalletHub did a report on “2017’s best places to be a real estate agent.” Honolulu was ranked No. 1 based on “real estate market health” (home turnover rate, days on market, etc.) and “job opportunity and competition” (sales per agent, median home price, agent wages, etc.). Austin was the highest ranked Texas city at No. 10 (falling from No. 4 last year).
If you want to know how much real estate agents in each Texas city make, check out salary.com.