Is housing a rising tide lifting all boats? It sure buoys real estate agents

By John Luciew | jluciew@pennlive.com 

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on August 21, 2013 at 11:30 AM, updated August 21, 2013 at 11:32 AM

There’s an old saying that a rising housing market lifts all boats. That might be hyperbole. But when the real estate

market recovers, as it's doing now, so does the job market for real estate agents.

One can practically chart the Great Recession by glancing at a year-by-year listing

of the membership ranks of the Greater Harrisburg Association of Realtors.

In the heady days of the housing market, the local real estate ranks swelled to 1,785 licensed members. That was the peak back in 2007. The years since have been a

slow downward slide, as agents allowed licenses to lapse and GHAR memberships waned. Already this year, GHAR’s membership has rebounded, with 1,514 card-carrying and licensed real estate agents working listings in Dauphin, Cumberland and Perry counties.The bottom came just last year, when the membership count sank to 1,465, just as a moderate but steady real estate recovery was beginning to take hold.

More are undoubtedly on the way. Agencies like RSR Realtors are actively hiring,

even going as far as recruiting an ambitious sellers with an interest in hawking houses.

For its part, GHAR has held five new member orientations so far this year. The

average number of attendees is 29, says Kathy Ludwig, GHAR’s executive vice president. The association's swelling ranks represent both those new to real estate looking to make it a career, as well as former agents who are renewing lapsed

licenses and memberships.

All want a piece of the growing pie that is the recovering real estate market in

central Pa. Yet, even as the real estate ranks swell, it remains a profession where

the commission-only rewards can vary wildly.“GHAR continues to have new agents

in our market area,” Ludwig says. “In addition, GHAR continues to see previous licensees reactivating their licenses.”

It’s estimated that only about 20 percent of agents are full-time, sinking or

swimming solely on their sales commissions.

An average year is an agent closing anywhere from five to 10 houses. But at the top,

less than 20 percent of the agents are responsible for nearly 80 percent of the sales.

Or as Melissa Watson, sales manager at RSR Realtors, soberly says:

“It’s not easy money. It takes tenacity. It takes dedication. You have to earn it. It

can be extremely rewarding. But it’s not for everybody.”

But with the housing market rising, more will think a career in real estate is for them. Yet if past is prologue, only a few will be correct.

“Hiring is interesting,” says Garrett Rothman, an RSR partner and attorney.

“People come all the time. Their eyes glaze over. But we’re always looking for agents that fit our culture and want to be successful.”

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