Relitix’s latest release of the Agent Movement Index™ (AMI) for May 2024 reveals significant and unexpected trends in the real estate agent landscape, highlighting an industry that is defying conventional wisdom and expectations.
Key Highlights from May 2024 AMI:
- Rise in Active Agents: The data indicates an ongoing increase in the number of active real estate agents, a trend that contradicts industry forecasts of a declining agent count. This unexpected rise suggests a resilient and potentially expanding market.
- Continued Increase in Agent Mobility: The movement of agents between brokerages continues to climb, extending a trend that has been gaining momentum since last fall. This heightened mobility reflects a dynamic market where agents are increasingly exploring new opportunities.
- Recovery to 2016 Levels: The AMI metrics reveal that agent movement has nearly recovered to its 2016 level, marking the highest activity in the past two years. This resurgence underscores the vibrancy and competitive nature of the current real estate environment.
Rob Keefe, Founder of Relitix, commented on these findings, stating, “May’s data highlights an industry in flux but also in growth. The rise in active agents and their continued mobility between brokerages suggests that the market is adapting and potentially strengthening. We’re witnessing a level of agent movement equivalent to the calmer brokerage environment of 2016, indicating an increasingly healthy and competitive landscape. Our ongoing analysis will continue to provide valuable insights into these dynamic trends.”
These findings build on previous AMI releases, which have consistently shown a landscape of evolving agent dynamics. For example, April 2024’s report indicated an unexpected increase in active agents and a continuing rise in agent movement, setting the stage for the current trends we observe. This month, the AMI recorded a monthly score of 116.8, with a seasonally adjusted figure of 123.2, reflecting the ongoing adjustments in the market.
The AMI is a robust metric that tracks agent movement dynamics using extensive national data from major MLS systems. It is released monthly and includes both raw monthly figures and seasonally adjusted data to provide a transparent view of underlying trends.
Trends in the relative movement of experienced real estate agents between brokerages are an important strategic consideration for brokerage and franchise leaders. The relative amount of movement fluctuates over time on a seasonal and long-term basis. To capture these trends and report them to the industry Relitix is proud to introduce its Agent Movement Index™. The AMI is published monthly and features monthly and seasonally adjusted, and 12-trailing-month values. The index is calculated using national-level data from a large sample of the nation’s most prominent MLS systems.
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 1.5 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.
