Real estate is a hot career choice that isn’t going away anytime soon. According to the National Association of REALTORS® (NAR), as of March 2023, there were 1,526,915 registered Realtors in the U.S. This represents a 2% decrease since December 2022 — and these numbers may decline further as the housing market continues to cool.
If you've been considering a real estate career in Florida, you might wonder how many real estate agents are currently practicing there, and whether the state is experiencing similar trends. Let's take a look at the number of real estate agents in Florida specifically.
How Many Real Estate Agents Are There in Florida?
The NAR reports that Florida has more Realtors than any other state. As of March 31, 2023, there were 216,493 registered members in Florida, representing a 0.08% year-over-year decrease.
However, this number doesn’t exactly tell the whole story. Realtors and real estate agents aren’t the same thing. A Realtor is a real estate agent who has registered with the NAR, and while many agents choose to do this, some don't. So, it’s likely that the actual number of actively licensed real estate agents is higher.
How Many Agents Are in the Miami-Dade Metro Area?
After nearly three years, the number of Realtors in Miami is shrinking rapidly. A report found that there were 22,286 real estate agents in Miami in the fourth quarter of 2022. Of them, only 20.3% were active, representing a 36.3% decrease since the same time period in 2021. While the Miami metro area may be experiencing a more extreme shift, it's likely that trends are similar across Florida's other major metro areas.
However, this doesn’t necessarily foreshadow a market crisis. When the pandemic-fueled buying frenzy transformed the real estate market in South Florida, new agents also flooded the market. In 2021, the number of active agents was up 14.5%. So while the recent declines are significant, they come after an outlier year.
What Do These Changes Mean for You?
With so many licensed real estate agents in the state, you may wonder whether the competition could be too fierce. The good news is that you don’t actually have to compete with every other real estate agent in Florida. 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.
You're also not competing with the entire state, just the agents in your local market.
Still, you need to be competitive to build a thriving real estate 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 media platforms.
Focus on video. Social media platforms now favor video over images. Video is also a great way to capture a user's attention as they are scrolling.
Ready to Become a Florida Real Estate Agent?
If you're thinking about joining the ranks of Florida's licensed real estate agents, now is a great time. Enroll in your Florida real estate pre-licensing education course today and get ready to launch your new career!
Updated 5/3/23