The California Association of Realtors has been saying that they are expecting a 15% to 20% reduction in the number of active real estate agents is California over by mid-2009.

In February 2008 the records show 396,260 valid real estate salesperson license in California. In February 2007, the number was 382,946.

Where’s the big shake out of real estate agents that has been predicted due to the downturn in real estate?

The records show 1,347 salesperson licenses issued in February 2008 as compared to 3,208 a year ago. The number of people rushing to the gold fields to become a California real estate agent has fallen off quite a bit, but the impact has yet to lead to a reduction of active real estate agents.

I suspect, like the gold rush of 1849, it takes a while for the news to reach the masses that the gold fields are drying up and many prospectors hoping to find gold nuggets lying on the ground for the picking are waking up to the reality of hard work and lean times. Or, in the case of real estate – these days it takes a lot more than just putting a sign up in a yard to sell a home.

In conversations with our network of real estate agents, most report an increase in buyer activity, but attendance at local marketing meetings seems to be down and their are some faces we just don’t see anymore.

By the end of summer, we should have a better read on this sitiuation. Right now the, with the number of real estate transaction down, there’s a lot of competition to get listings. This is good for the seller, hungry agents are motivated agents, but make sure the agent you choose has the war-chest to market your property to get it sold, many real estate agents are running on fumes.