To get an idea of what constitutes an exceptional number of Realtor sales per year in different areas of the country, let's take a look at how some Realtor associations measure "top producer" status.
Sacramento: Masters Club
In Sacramento, members of the Sacramento Association of Realtors' "Masters Club" must earn $5 million in sales volume and have 8 transactions or a total of 20 transactions to achieve top producer status.
Chicago: Awards Program
The Chicago Association of Realtors' awards program recognizes agents who have sold more than $11.5 million in sales volume and/or completed 27 transactions per year.
Iowa: Sales or Listings Closed
The Iowa Association of Realtors offers awards to agents who participate in at least $1-$10 million worth of sales or listings closed. They do not measure transaction sides.
It is important to note that "sales volume" refers to the total value of the properties an agent represents in a year. For example, if an agent sells three $500,000 homes in a year, their sales volume would be $1.5 million.
While the number of sales per year is an important factor, it is just the tip of the iceberg when evaluating an agent's performance. Here are some other measures to consider:
Homes Sold in Your Area
An agent who regularly sells homes in your neighborhood can provide valuable insight into your specific market. They will be well-versed in the local amenities, such as coffee shops, walking trails, and proximity to grocery stores, which can attract potential buyers.
Years of Experience
Consider an agent's years of experience in the industry. This will give you an indication of their knowledge, expertise, and ability to navigate different market conditions. An agent with a long-standing presence in the industry has likely developed the skills necessary to succeed in both strong and weak markets.
Reviews and Ratings
Client reviews and ratings provide firsthand accounts of an agent's performance. When searching for an agent on HomeLight, you can easily find client reviews on their recent transactions. This gives you insights into what it's like to work with a specific agent and highlights their strengths.
Average Days on Market
The average days on market (DOM) measures the time between when a house is listed and when it goes under contract with a buyer. Agents with a lower average DOM than the area average demonstrate their ability to price homes accurately and attract quick offers. HomeLight tracks average DOM and compares agents in your area to their competition. Agents awarded with HomeLight's "Sells Homes Fast" badge are among the top 5% based on average DOM for seller transactions.
Types of Properties Sold
Consider an agent's history of selling properties similar to yours. A listing agent who specializes in single-family homes may not have the expertise to stage, market, and navigate the rules of a townhome or condo. HomeLight provides information on the types of properties an agent has historically sold, allowing you to find an agent aligned with your specific needs.
Area of Expertise
If your home sale requires specific skills or knowledge, review the "Specialties" section of an agent's HomeLight profile. They can list areas of expertise such as luxury, investment, waterfront, or probate properties, helping you find an agent with the right set of skills for your needs.
Average Sale-to-List Price Ratio
The sale-to-list price ratio indicates what percentage of the asking price a home actually sells for. It demonstrates an agent's ability to accurately price homes and deliver a seller's list price. A higher average sale-to-list price ratio indicates a better track record. If a house sells over asking price, the sale-to-list ratio will be over 100%.
Remember, while the number of homes sold per year is important, it is just one factor to consider when choosing a Realtor. By evaluating other indicators of performance, such as local market knowledge, experience, reviews, average days on market, expertise, and average sale-to-list price ratio, you can find an agent who is the right fit for your needs.
