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LOCATION, LOCATION,
LOCATION: BEST CITIES FOR
REAL ESTATE AGENTS
Real estate agents rely heavily on their
area of operations, so their location is just as
important to them as it is to their clients. In
a recent study, WalletHub tried to determine
which cities were best for real estate agents.
e site examined over 170 U.S. cities using 18
indicators to determine where the market was
healthiest for agents due to demand, prices,
and a number of other factors.
Ranked overall best for real estate agents
was San Francisco. San Francisco ranked
second in job opportunity and competition,
and ninth in real estate market health, and
also ranks highest for median home price.
Seattle is a close second, ranked fifth in job
opportunity and competition and first in real
estate market health.
In terms of sales, Honolulu ranks boasts
the highest number of sales per agent, as well
as the highest annual median wage for agents.
Despite the high earnings of agents in
metro areas such as these, agents must be
willing to adapt to change, even in these
high-earning markets. ese changes include
new tools such as inline buying services and
apps. WalletHub asked a panel of experts,
"Should real estate agents feel threatened
by new apps and other online tools offering
services to potential homebuyers?" e answer
from most panelists was "maybe." According
to WalletHub's study, agents need to adapt
to change and utilize new tools, technology,
and techniques to their advantage in order to
remain competitive.
"Real estate agents who are willing to
embrace technology and innovative changes
should be excited and should embrace these
things," Daryl D. Green, Dickinson Chair of
Business and Professor in the Paul Dickinson
College of Business at Oklahoma Baptist
University said. "However, those individuals
who are unwilling to embrace change should
be scared. Change is coming to all industries,
ready or not."
