As I mentioned two days ago, California surpassed 500,000 new agents.  Thats 55,000 agents and brokers than last year.  With that many people we can easily predict many, many seminars on how to get rich quickly in real estate, many, many companies calling these new agents to pay desk fees for the priviledge of working and being mentored.  We can also easily predict, many, many very entrepreneural people with exotic business models cropping all over the state to help these new agents make a name for themsleves.

What is really scary is what will all these people do in a deflating market where houses stay longer on the market.  With a glut of agents and brokers, where will they find work?  I read somewhere that there are one agent for every five families in California.  Don’t quote me on that but it was an absurd number.

One good thing out of this is that it will bring competition and help agents remarket themselves.