Residential real estate market thriving, drawing more agents

Residential real estate market thriving, drawing more agents

An increasing quantity of sales and rising prices are just a couple of signs that the real estate market in Florida is rejuvenated. Yet another sign of the success of Florida's residential real estate market is that more people are becoming real estate agents. The increase started in 2012 and has been growing since then.

Last year, more than 24,100 people were able to pass the Florida state licensing test to become sales associates. This was a jump of 36 percent from 2013, and it is the largest increase since 2009. Class sizes shrank drastically during the most recent recession, but they are bouncing during this period of recovery.

Right now, more than 145,000 people in Florida have active and current sales agent licenses. Meanwhile, 73,000 have licenses deemed inactive. Many of these individuals left the industry when housing sales started to plunge, but they may rethink their decision if the market keeps improving. Single-family housing prices and sales are expected to increase by 10 percent in 2015 as a result of the strengthening economy.

With the residential real estate market burgeoning in Florida, many homeowners may be interested in selling their properties while demand for homes is strong -- especially with spring around the corner. In addition, home buyers would be wise to jump on the opportunity to purchase available properties at competitive prices and historically low interest rates. An applied understanding of real estate law may help people on both sides of a real estate transaction to protect their best interests at each stage of the process and achieve their individual aims.

Source: tampabay.com, "More people go to real estate school as Florida housing market improves", Susan Taylor Martin, Jan. 16, 2015