by Tom Kelly
Inman News
“Are there too many Realtors?”
The question, posed by a veteran reporter from Houston, certainly was understandable. After all, when the number of members of one organization reaches a greater figure than the total residents of some entire states, it’s time to at least inquire about ceilings.
“No. I don’t think so,” said a surprised David Lereah, the National Association of Realtors’ chief economist, who clearly had not pondered the subject in the past few weeks. “That’s because some of these new people are serving segments of our population - mainly immigrants and seniors - that have not been targeted in the past.”
NAR is the largest trade association in the country with a hefty 962,000 members, up an amazing 102,000 from 2002. And, remember not all persons who have a real estate license are members of NAR. While the term “Realtor” has become nearly generic, only members of NAR are actually Realtors.
According to Lereah and Ellen Roche, NAR’s vice president of research who headed up the 2003 National Association of Realtors Member Profile survey conducted in July, many of newcomers do not fit the typical salesperson profile. The study covered a variety of member characteristics, including demographic data, current business attributes and technology use.
“A lot of these people are younger and are definitely considering real estate as a full-time occupation,” Lereah said. “They look at some of the money Realtors are making, see many sectors of the economy continuing to struggle and figure this is a pretty good place to be. Whether or not they will stay when things slow down remains to be seen.”
The membership pedal appears firmly stuck to the metal. Lereah, who attributed the significant growth to the historic rise in home values, expected the association to easily exceed a million members by the end of the year.
In addition, members vote - and lobby - with intensity. Greater than 94 percent are registered voters and 87 percent of them voted in the past national election, compared with 55 percent of the U. S. population, according to the U.S. Census Bureau. Not only do NAR members flock to the polls but the group also has one of the strongest lobbying efforts in Washington, D.C.