Best real estate agents get severe haircuts

August 30, 2010
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It’s tough at the top of the hierarchy of local real estate agents.

You may have noticed in this weekend’s IBJ list of All-Star Agents that only 45 teams made the list, down from 58 last year. The seven individuals included on the list were about half the 13 who made it last year.

To make the list, the team or individual must rack up total sales of at least $20 million in 2008 and 2009.

Here’s additional perspective on the conditions.

The top 45 teams sold about the same number of houses in 2009 as in 2008, just over 1,000, but the total value of the sales plummeted a whopping 27 percent, to $200 million.

The individuals saw their sale numbers fall 10 percent and the total value of the sales slide 18 percent, to $81 million.

Lots of people would like to be able to say they sold $15 million of anything last year. That’s what the top solo agent, Carl Vargas of F.C. Tucker Co., pulled off. Still, even Vargas was down about $1 million.

Any thoughts?

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  • Sales?
    Do "sales" include just what the agent was the closing rep on or does it also include what they listed that eventually closed?
  • Norm
    CK, the sales figures include everything that closed during the two years.
    • Sales Definition
      Right but if Bif Ward lists a house for $1.4 mil and Carl Vargas sells it for $1.4 mil, do they both get credit for $1.4 mil?
    • sales definition
      IBJ asks for total volume from closed sales during the two years. It's possible that if more than one agent received a commission on a sale, they'd both report the sale in their totals.

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