Headline: Market Sees Agents Sales Volume Increase

Northwest Arkansas has a total of 3,753 real estate agents registered with the Arkansas Realtors Association. That’s up 10 percent from 3,400 agents in 2003 and 17 percent from 3,199 in 2002. The Rogers board, with a 27 percent increase, saw the biggest change in the last year.

Evidence suggests that sales volume has kept pace so far.

Pat Dacus, sales manager for Lindsey & Associates Realtors in Fayetteville, said even though her firm continues to add agents, overall sales volume between the Rogers and Fayetteville offices of Lindsey will be up this year. The average sale, Dacus said, will probably be about the same.

The total reported sales volume for the Northwest Arkansas Business Journal’s 2004 Top Producing Real Estate Agents list increased 45 percent from $1.2 billion in calendar 2002 to $1.7 billion in 2003. Based on figures from January to November, sales are on pace to increase at least 35 percent year-over-year.

That number is based on sample surveys of reported sales volume to area metro boards of the Top 20 performers in 2004 over their sales volume listed on our 2003 list.

Marcella Hagan, broker/co-owner of Re/Max Real Estate Results in Bentonville, said business this year is up 39 percent, through late October goal setting.

Janet Nielson, relocation director for Century-21 Galloway Realty Inc. in Springdale, said sales are down about 10 percent over last year. Nielson attributes most of that decrease to turnover and other factors.

“The market is changing,” Nielson said. “Right now, houses are selling so fast, you don’t get to market them. You list them one day and they are gone within an hour.”

Agents aren’t getting as many client leads as they used to, she said.

“Normally when you put a house on the market, you get a lot of calls from buyers and they might not buy that particular house, but you can show them other houses.”

Nielson said they couldn’t build new homes fast enough.

“There is a shortage out there of ‘used’ homes,” Nielson said. “New homes are selling quickly, and the new homes take over everything else.”

Dave Bevis, executive director of Basset Mix & Associates Inc. of Fayetteville, said he’s had a record sales year. Bevis, who has been in the market 13 years, said he sees veteran agents holding their own with referrals alone.

“The agents who have only been in the market a few years are probably suffering the most because they don’t have as many contacts,” Bevis said.

Bevis added that he doesn’t think the market needs more agents.

“Not from a competition standpoint,” he said.

“It’s not something (real estate) that you can get into and do easily. Even when you do everything perfectly you can still face consequences.”