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Relitix’s latest release of the Agent Movement Index™ (AMI) for October 2024 reveals a persistent downward trend in agent mobility, indicating ongoing challenges in the real estate industry.
KEY OBSERVATIONS FROM OCTOBER 2024
Continued Decline in Agent Movement: The seasonally adjusted AMI metric for October dropped to 86.2, marking another decrease in agent mobility and continuing the downward trend observed in recent months.
Factors Influencing DeclineThe Presidential election and the implementation of the National Association of Realtors (NAR) settlement appear to have significantly impacted agents’ propensity to move between brokerages.
Slight Upward Adjustment: September’s seasonally adjusted metric was revised slightly upward, but this adjustment did not reverse the overall declining trend in agent movement.
Potential for Future Recovery: With the election concluded and as the industry adapts to the NAR settlement, there is cautious optimism that this decline may reverse in the coming months.
Rob Keefe, Founder of Relitix, commented on these developments: “October’s data underscores the significant impact of recent events on our industry. The combination of political uncertainty and major regulatory changes has clearly influenced agents’ decisions to stay put. However, as these factors stabilize, we anticipate a potential rebound in agent mobility. Brokerages should remain vigilant and prepared for a possible uptick in movement as the market adjusts to the new normal.”
About the agent movement index: The agent movement reflects the relative mobility of experienced agents between brokerages. The score is computed by estimating the number of agents who changed brokerages in a given month. To be counted the agent must be a member of one of the analyzed MLS’s and change to a substantially different office name at a different address. M&A-driven activity and reflags are excluded as are new agents and agents who leave real estate. Efforts are made to exclude out of market agents and those which are MLS system artifacts. The number of agents changing offices is divided by the number of agents active in the past 12 months in the analyzed market areas. This percentage is normalized to reflect a value of 100 at the level of movement in January 2016 (0.7313%). The seasonally adjusted value divides the monthly result by the average of the same month in prior years.
Analyzed MLS’s represent over 800,000 members and include: ACTRIS, ARMLS, BAREIS, BeachesMLS, BrightMLS, Canopy, Charleston Trident, CRMLS, GAMLS, GlobalMLS, HAR, LVAR, Metrolist, MLSListings, MLSNow, MLSPIN, MRED, Northstar, NTREIS, NWMLS, OneKey, RealComp, REColorado, SEF, Stellar, Triad, Triangle, and UtahRealEstate.
About Relitix: Relitix provides data-driven decision support for brokerage leaders across the United States. A pioneer in applying AI and data science technology in brokerage management, Relitix profiles over 1.2 million agents in more than 130 markets nationwide to help brokers recruit, coach, and retain agents. Advanced data tools allow unprecedented visibility in agents, offices, and markets for strategic planning and M&A support. Learn more at www.relitix.com.
