Real estate is a popular career choice that shows no signs of slowing down. According to the National Association of REALTORS® (NAR), there were 1,526,915 registered Realtors in the United States as of March 2023. This represents a 2% decrease since December 2022, and these numbers may continue to decrease as the housing market cools off.
If you’re considering a real estate career in Florida, you might be curious about the number of real estate agents currently practicing in the state and whether it’s experiencing similar trends. Let’s delve into the specifics of the real estate agent population in Florida.
The Real Estate Agent Count in Florida
Florida takes the lead among all states in terms of the number of Realtors. As of March 31, 2023, there were 216,493 registered members in Florida, indicating a 0.08% year-over-year decrease.
However, these figures don’t provide the complete picture. It’s important to note that Realtors and real estate agents are not synonymous. A Realtor is a real estate agent who has registered with the NAR, but not all agents choose to do so. Thus, the actual number of actively licensed real estate agents in Florida is likely higher.
Real Estate Agents in the Miami-Dade Metro Area
The number of Realtors in Miami has been rapidly decreasing for nearly three years. A report reveals that there were 22,286 real estate agents in Miami during the fourth quarter of 2022. Out of these agents, only 20.3% were active—a 36.3% decrease compared to the same period in 2021. While the situation in the Miami metro area may be particularly severe, it’s probable that similar trends are occurring in other major metro areas across Florida.
However, this shouldn’t necessarily cause concern about a market crisis. When the pandemic-driven buying frenzy shook up the South Florida real estate market, numerous new agents entered the scene. In 2021, the number of active agents saw a 14.5% increase. Therefore, although the recent declines are significant, they come after an exceptional year.
What Do These Changes Mean for You?
Given the substantial number of licensed real estate agents in the state, you might wonder if the competition is too fierce. The good news is that you don’t have to directly compete with every single real estate agent in Florida. Many individuals with an active real estate license rarely put it to use. For instance, retired agents may keep their license active just in case they need it in the future.
Moreover, you’re not competing against the entire state, but rather the agents in your specific local market.
Nonetheless, to establish a thriving real estate business, you need to position yourself competitively. Here are a few strategies to compete with agents who may possess more experience and resources:
- Niche down: Focus on a specific market segment, such as military or seniors, to become the go-to agent for that particular niche. Although you’ll be vying for a smaller market share, your chances of winning each lead will significantly increase.
- Develop your online presence: While some traditional agents may have an impressive client base, today’s buyers and sellers are primarily searching for homes and information online. Launch a website as early as possible and actively engage on major social media platforms.
- Emphasize video content: Social media platforms now prioritize videos over images. Utilizing videos is an excellent way to capture users’ attention as they scroll through their feeds.
Ready to Become a Florida Real Estate Agent?
If you’re contemplating joining the ranks of licensed real estate agents in Florida, the present moment is opportune. Enroll in a Florida real estate pre-licensing education course today and prepare to embark on your new career!