The number of real estate agents in Florida has been growing over the last decade. And for good reason, as the Florida real estate market has also been growing.
Like a few other states with a favorable cost-of-living index, good weather, and strong job prospects, Florida saw an influx of residents in 2020 due to the pandemic. Buyers are further incentivized to purchase a home because of low interest rates. Plus, many homeowners have found that their current home just doesn’t work in a pandemic where everyone is stuck working, learning, and hanging out at home for months on end.
So there is a high demand for real estate agents to represent the many real estate transactions happening in Florida.
In this post, we’ll look at how many real estate agents are in Florida. And we’ll give you tips on how to compete with them when you launch your own real estate business.
How Many Real Estate Agents are in Florida?
According to theNational Association of Realtors® (NAR), there are 195,647 active Realtors in Florida as of February 2021. This represents a 6.17% increase from the previous year. In fact, nation-wide, there were more active Realtors than at any other point in history.
But the 195,647 doesn’t give the full picture. There are actually many more real estate agents operating in Florida.
Realtors and real estate agents aren’t exactly the same thing. Realtors are agents who are members of the NAR. While many agents decide to join NAR and become a Realtor, some do not. So the agents who have chosen not to become Realtors are not included in this count.
The Florida Department of Business and Professional Regulation shows over 5 million licensees, but this number is even more inaccurate than the NAR figure because it includes inactive licenses.
The actual number of real estate agents in Florida is likely somewhere in the high 200,000s to low 300,000s.
3 Reasons It’s Great to Be a Florida Real Estate Agent Today
Part of the reason there are so many real estate agents in Florida is that it’s a great time to be a Florida real estate agent! Here’s why:
So many buyers! With interest rates at historic lows and people wanting more living and outdoor space following the 2020 pandemic, the market is full of active buyers.
Increasing home values. Home values have been on the rise since the bottom of the Great Recession. Growing home values make buyers want to get in on the action and sellers want to cash out their home equity.
Strong income potential. Since real estate agent income is tied to home values, rising home values mean rising incomes. The mean wage as of 2019 was $62,790, with agents in the 90th percentile earning over $125,000!
Ways to Compete with the Other Real Estate Agents in Florida
Remember, you don’t actually have to compete with every other real estate agent in Florida. First, some people with an active real estate license rarely use it. Retired agents, for example, may keep their license active just in case they ever need it.
And, you’re not competing with the entire state, just the agents in your local market.
Still, you need to be competitive to win business. Here are a few ways to compete with agents who might have more experience and resources than you do:
Niche down. Focus on a specific niche (like military or seniors) to become the go-to agent for that market. You’ll be competing for a smaller market share, but you’ll also dramatically increase your chances of winning each lead.
Build your online presence. Old-school agents may have an impressive client base, but today’s buyers and sellers are looking for homes and information online. Launch a website as early as possible and be active on the major social networks.
Focus on video. Social media platforms now favor video to images. And video is a great way to capture attention as users are scrolling.
Ready to Become a Florida Real Estate Agent?
Getting your real estate education is the first step in joining the ranks of Florida real estate agents. Enroll in your Florida real estate pre-licensing education course today and get ready to launch your new career!