NYC Broker Population Market Overview- August 2020 | Corofy

Total Agents In NYC By Borough

This graphic shows how many real estate agents there are in New York City this month, taking a specific look at each borough.

Number of Real Estate Agents in New York City -August 2020

Each month, the number of real estate agents in New York City fluctuates. This overview will discuss how many real estate agents there are in New York City this month, taking a specific look at each borough. As of May 2020, there are 62,403 licensed real estate agents in New York City’s five boroughs.

More than half of the real estate agents in New York City are located in Manhattan, with 32,560 agents licensed at Manhattan-based firms. Queens is second with 13,302 agents, followed closely by Brooklyn with 11,139 agents. Bronx and Staten Island firms have 2,564 and 2,838 agents, respectively.

Number of Real Estate Agents in New York City by Borough

Number of Real Estate Agents In NYC By License Type

This graphic shows how many agents there are in New York City this month separated by borough and license type.
As of August 2020, there are 60,754 licensed real estate agents in New York City’s five boroughs. Licensed real estate salespersons are the most common license type, accounting for 59.55% of the active licenses, while associate brokers in New York City represents 12.90%.
Other broker license types make up the remaining 27.55%. Other broker license types include limited liability brokers, tradename brokers, partnership brokers, corporate brokers, and individual brokers.

Number of Real Estate Agents in Manhattan

There are 31,675 real estate agents licensed at Manhattan-based firms. Licensed real estate salespersons are the most common license type, accounting for 57.30% of the active licenses, while associate brokers represent 15.92%. Other broker license types make up the remaining 26.78%.

18,149

Licensed Real Estate Salespersons

5,044

Licensed Associate Brokers

8,482

Other Brokers

Number of Real Estate Agents in Brooklyn

There are 10,773 real estate agents licensed at Brooklyn-based firms. Licensed real estate salespersons are the most common license type, accounting for 58.97% of the active licenses, while associate brokers represent 9.88%. Other broker license types make up the remaining 31.15%

6,353

Licensed Real Estate Salespersons

1,064

Licensed Associate Brokers

3,356

Other Brokers

Number of Real Estate Agents in Queens

There are 13,042 real estate agents licensed at Queens-based firms licensed real estate salespersons are the most common license type, accounting for 65.24% of the active licenses, while associate brokers represent 9.12%. Other broker license types make up the remaining 25.63%.

8,509

Licensed Real Estate Salespersons

1,190

Licensed Associate Brokers

3,343

Other Brokers

Number of Real Estate Agents in the Bronx

There are 2,549 real estate agents licensed at Bronx-based firms. Licensed real estate salespersons are the most common license type, accounting for 56.38% of the active licenses, while associate brokers represent 6.94%. Other broker license types make up the remaining 36.68%.

1,437

Licensed Real Estate Salespersons

177

Licensed Associate Brokers

935

Other Brokers

Number of Real Estate Agents in Staten Island

There are 2,715 real estate agents licensed at Staten Island-based firms. Licensed real estate salespersons are the most common license type, accounting for 63.87% of the active licenses, while associate brokers represent 13.26%. Other broker license types make up the remaining 22.87%.

1,734

Licensed Real Estate Salespersons

621

Licensed Associate Brokers

360

Other Brokers

The license type which recorded the most significant change from last month are licensed real estate salespersons, decreasing by a total of 188 real estate agents in New York City’s five boroughs. Manhattan-based firms led the way, decreasing by a total of 52 salespersons, followed by Queens-based firms decreasing by 83 salespersons, Brooklyn based-firms decreasing by 33 salespersons, Staten Island firms decreasing by 23 salespersons, and Bronx-based firms increased by 3 salespersons. Associate brokers and other brokers remained steady in the overall number of licenses throughout the month.

Number of Real Estate Agents in New York City by Borough

Number of Agents Entering The Real Estate Industry In NYC

This graphic shows how many agents have entered the industry this month, separated by borough.
New York City experiences a high turnover of real estate agents on a monthly basis. New real estate agents enter the industry, while many existing real estate agents leave the industry. Further, many real estate agents in New York City will switch brokerages. August alone saw 730 agents switch brokerages and place their license at another firm.

Number of Real Estate Agents in Manhattan

Manhattan accounts for 48.28% of the real estate agents entering the industry this month. This is 4.70% less than the number of real estate agents at Manhattan-based firms who are leaving the industry. 44.98% of real estate agents in New York that became unlicensed are from Manhattan-based firms.

Number of Real Estate Agents in Brooklyn

Brooklyn accounts for 22.29% of New York real estate agents that are entering the industry this month. This is 0.51% more than the number of real estate agents at Brooklyn-based firms who are leaving the industry. 21.78% of real estate agents in New York that became unlicensed are from Brooklyn-based firms.

Number of Real Estate Agents in Queens

Queens accounts for 20.21% of New York’s real estate agents entering the industry this month. This is 3.20% less than the number of real estate agents at Queens-based firms who are leaving the industry. 23.41% of the real estate agents that left the New York real estate industry are from Queens-based firms.

Number of Real Estate Agents in the Bronx

The Bronx accounts for 5.13% of the real estate agents entering the New York real estate industry this month. This is 0.83% more than the number of real estate agents at Bronx-based firms who are leaving the industry. 4.30% of the real estate agents that left the industry in New York are from Bronx-based firms.

Number of Real Estate Agents in Staten Island

Staten Island accounts for 4.09% of the real estate agents entering the industry this month. This is 1.44% less than the number of real estate agents at Staten Island-based firms who are leaving the industry. 5.53% of the real estate agents that leave the industry in New York are from Staten Island-based firms.

Conclusion

According to Corofy’s data, the Bronx has the best ratio in terms of agents entering the industry vs. agents leaving the industry. With 5.13% of new real estate agents in New York City joining Bronx firms, compared to only 4.30% of those leaving the industry, the retention rate at Bronx-based firms is higher than any other borough.

Real Estate Agent Turnover and Growth Rates

Number of Agents Leaving The Real Estate Industry In NYC

This graphic shows how many agents have left the industry this month, separated by borough.
The total number of real estate agents in New York City is constantly changing. Every month presents noticeable changes. August saw a significant decrease of 218 licensed real estate agents in New York City. This saw the total number of real estate agents in New York City decrease to 60,754, compared to July when there were 60,972 agents.

Real Estate Agents in Manhattan Turnover

The number of real estate agents in Manhattan decreased compared to last month. There was a notable decrease of 63 agents. Last month, there were 31,738 licensed real estate agents in Manhattan compared to 31,675 agents this month.

Real Estate Agents in Brooklyn Turnover

The number of real estate agents in Brooklyn decreased compared to last month. There was a notable decrease of 32 agents. Last month, there were 10,805 licensed real estate agents in Brooklyn compared to 10,773 agents this month.

Real Estate Agent in Queens Turnover

The number of real estate agents in Queens decreased compared to last month. There was a significant decrease of 94 agents. Last month, there were 13,136 licensed real estate agents in Queens compared to 13,042 agents this month.

Real Estate Agents in the Bronx Growth

The number of real estate agents in the Bronx increased compared to last month. There was a slight increase of 2 agents. Last month, there were 2,547 licensed real estate agents in the Bronx, compared to 2,549 agents this month.

Real Estate Agents in Staten Island Turnover

The number of real estate agents in Staten Island decreased compared to last month. There was a notable decrease of 31 agents. Last month, there were 2,746 licensed real estate agents in Staten Island, compared to 2,715 agents this month.

Conclusion

Manhattan, Brooklyn, Queens, and Staten Island experienced a significant decrease in the number of agents in August. Queens-based firms led the way, decreasing by a total of 94 agents, followed by Manhattan with a decrease of 63 agents, Brooklyn with a decrease of 32 agents, and Staten Island with a decrease of 31 agents. The Bronx increased by 2 agents.

Number of Agents Switching Brokerages In NYC

This graphic shows how many agents have switched brokerages this month, separated by borough.

Real Estate Agent Turnover and Growth Rates

In a real estate market as competitive as New York City, the number of real estate agents is constantly changing. Every month hundreds of agents enter and leave the industry, as well as switch brokerages. Understanding this data is a key component of any growing brokerage’s recruitment model, as it allows brokers to stay up to date with both their and their competitors’ growth.

Find out how your brokerage is performing by reading our monthly Broker Population Overviews and checking out Corofy’s New York City real estate data page. If you are interested in learning more about how your brokerage can improve its recruitment model, reach out to us at Corofy.

This overview is for informational purposes only. Corofy makes no representations or warranties, express or implied, with respect to future market or industry conditions. In preparing this overview, Corofy relied upon some information obtained from independent third party sources. Corofy believes the information to be complete and accurate. However, Corofy can not guarantee the accuracy or completeness of such information and it is presented subject to errors, omissions, changes or withdrawals without notice.