Handing over the real estate license

The California Department of Real Estate, the state's real estate regulatory agency, reports that the total number of real estate licensees dropped for the first in five years in December (see Inman News report). It was a slight decline compared to the previous month, but it could be a portent of things to come, as the population of active real estate professionals tends to ebb and flow with the market's cycles and there is some lag time from the start of the market decline to the drop in licensee numbers.

The National Association of Realtors has reported a shrinkage in total membership, which fell 3.7 percent from January 2007 to January 2008. In Florida, Realtor membership has declined 15.2 percent from Oct. 31, 2006, to Jan. 31, 2008 -- sales and prices are also down a bunch in that state (see related report here).

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