All that glitters isn’t golden for state’s real estate agents

More than half of California’s real estate agents quit within their first five years, according to a recent study.

In 2000, the California Assn. of Realtors selected 100 new Realtors and followed them through the first years of their careers. By the fifth year, only 43% of the original agents stayed the course; the other 57% went searching for greener pastures.

CAR found that many left because of a lack of support from their brokers, but others left because of an inability to make a decent living.

The association’s membership is at a record level at more than 161,000 members. A quarter of that total, 42,000, came on board in 2004 on the heels of one of the state’s hottest housing years. Home prices in California increased nearly 110% during the five-year study period.

A job selling homes in the Golden State has the potential for a six-figure income. Unfortunately, with housing inventory tight and so many real estate agents who have the same idea, competition has become fierce.