Realtor Beverly Langley, who's been selling homes for nearly three decades, says the business isn't what it used to be. "You can't just wait for the phone to ring," she warns, adding, "It just doesn't work that way anymore." Langley estimates that 40 percent of realtors in the Washington, D.C., region have left the business since 2006.
Paul Bishop, vice president of research for the National Association of Realtors, says it's true there are fewer realtors in the business. For those who have hung on, Bishop says, "They are working just as hard as they did before and not earning as much." Statistics show employment numbers and wages for realtors peaked in 2007, and since then there's been a steady rate of attrition.