According to the most recent NAR (National Association of Realtors) monthly membership report, Georgia Realtor membership is down 18.73% over the past year--the biggest decline in the United States. Where are they all going? Many Realtors are leaving the real estate industry due to less than optimal Atlanta real estate market conditions while others may be moving to real estate brokerages that do not require NAR membership in an attempt to save on membership dues/fees as they cut costs.
Many of these Realtors entered into the business in 2002 when membership jumped to above 25,000 to take advantage of hot Atlanta real estate market conditions. Unfortunately, most of these Realtors have no experience with difficult market conditions and do not know how to adequately prepare, market, and sell a home in this market. The previous "sales technique" of sticking a sign in the yard and waiting for calls that worked for years...simply does not work now.
Ultimately, this reduction of Realtors is a good thing for the Atlanta real estate market and for home buyers and sellers. This correction will leave the industry stronger as only the best agents and firms will continue to flourish.
On a positive note, NAR membership (which was down in 49 states) actually increased in North Dakota. In North Dakota membership rose from 1376 to 1378 over the past year. Word on the street is they are shooting for the stars and a net increase of 4 for next year. Dream big, ND!