Real estate 'purging' has begun

More agents than home sales in some markets

There are more real estate agents than home sales in some markets — and simple economics tell us that something has to give, said Jack McCabe, a real estate consultant in Deerfield, Fla.

McCabe said that there are already examples of Realtor membership declines in the Fort Myers-Cape Coral, Fla., area, and in Palm Beach County, Fla., as well as real estate brokerage office closures and consolidations.