For the first time in about 8 years there are more RE agents within the profession than properties being sold.

From an experienced Real Estate Agent's point of view, the slowing market has an upside: many newer and inexperienced agents will leave the business as there is not enough business to support them.  Many part time agents will stop paying their MLS dues and board fees and put their licenses "on hold".  This can be an expensive business  if you are only selling a handful of homes a year. 

With the recent market surge, many obtained their real estate licenses thinking that it was a way to easy riches and not understanding how much work, dedication and perseverance is required.  Some were unprepared and reluctant to put in the hours necessary or to be available by phone for the hours needed. My job will be simpler when more of these newbies leave the business.  Although, the strong newbies, hopefully those with the best work ethic will remain; and thus my business gets weeded out during each real estate cycle.  Similar to Darwin's Survival of the Fittest - and this is best for the consumer.

Over the last several years, it has been a pleasure each time I have been in escrow with a seasoned agent.  Most of the escrow period,  from the agents point of view, is timelines, negotiations and problem solving; and this can be extremely difficult if the other Realtor doesn't know what they are doing.  Sometimes, an inexperienced agent, will let the experienced agent "run with the ball" (the experienced agent is the guide) but often an inexperienced agent will want to be an equal part in the decision making process and quite simply they can't. They just don't have the expertise; few new Realtors understand the complexity of the escrow process and the timing required for an "on time" closing.  With moving vans scheduled, delays are extremely stressful and inconvenient for our clients.

In addition to the inexperienced Realtors that will be leaving the business, so will inexperienced and lazy lenders and escrow officers. I have certainly seen my share of lazy lenders during the last several years. But I suppose with so much business, even if you are incompetent some of the business will "fall in your lap". 

When I entered the real estate profession in 1989, I was fortunate to have the benefit of a mortgage banking background.    I was furthered blessed with the experience and guidance of a very seasoned Realtor, my mother Joyce Serra.