Denver’s vibrant housing market has run into a peculiar supply-and-demand imbalance: There is a surplus number of real estate agents and a growing scarcity of real estate listings.
According to a Denver Westworld report
, the Colorado Department of Regulatory Agencies (DORA), which oversees the state's Division of Real Estate has determined there are approximately 21,000 active real estate agents in Denver, out of 35,000 for Colorado as a whole. However, the leading real estate brokerage websites report a low inventory in the Mile High metro: Zillow lists 1,880 homes for sale in Denver, while Realtor.com shows 2,478, Trulia has 2,218 and Redfin has 1,806. (These numbers do not take into account duplicate listings on multiple sites.)
Scott Grossman, board chairman for the Denver Metro Association of Realtors, stated that his organization saw about 118 new members a month over the last six months, and he added that “probably 15 percent of the licensees out there are driving in about 80 to 90 percent of the business.” But he also cautioned that the alleged glut in agents should be viewed in proper perspective.
“Not everybody getting their real estate license is necessarily going to be into selling real estate full-time,” he said. “You have your commercial people in there, you have people who are maybe into investing and just want to save on the commission—maybe for family. You see that a lot, since there are such low barriers to entering the field. It's fairly easy and relatively inexpensive to get started in this business.”