I took a look at 118 sales recorded on the Multiple Listing Service from January 1 to May 15, 2009. This represents 236 sides of a transaction a salesperson or brokerage had the opportunity to represent. For perspective the sales to date in Alameda have been more than $65 Million. That is (at 6% commission) $4 Million in commissions earned or more than $16,000 per side.
The Island does have a couple of dominate players in the real estate market, but 44 brokerages have done business in Alameda this year.
Alameda’s Big Three: Harbor Bay, Gallagher & Lindsey and Kane represented clients in 46-percent of the sides for 2009 deals closed on the Island. Harbor Bay led the pack with 56 sides compared to 38 for Gallagher and Lindsey and 14 for Kane.
For Harbor Bay Realty 25 of their agents generated over $35 Million in home sales which represents an estimated, at a 3% commission, just over a million dollars in commissions earned. For Gallagher and Lindsey 17 agents in the office produced $20 Million in home sales or just under $600,000 in commissions.
It appears there is not a lot of money to go around the Island right now with 42 agents accounting for 94 sides of the transactions. The three brokerages list a 148 agents on their websites. (64 HBR, 38 Kane and 46 G&L)
According to the NAR survey the median income for Realtors® was $36,700 in 2008, down from $42,600 in 2007. Members licensed as brokers earned a median of $49,300 last year, while sales agents earned $28,400.
The top agents just by count totals are: Listing side: Constance Farber of G&L and Ringo Liu of HBR with four listings sold; G&L's Bobbi Vogel had five buyers to lead the pack on that side of the transaction. I could have broke it down to dollars, but I did not want to spend the extra time.
Realtors® in the business for two years or less earned a median of $8,600, while those with three to five years of experience earned $27,100. For six to 15 years, the median was $42,400, while members in the business for 16 years or more earned $53,900.
The survey shows the typical NAR member is 54 years old, works 40 hours per week and specializes in residential brokerage; 60 percent are women. Just looking at the local websites the profile in Alameda is pretty accurate.
Here is the breakdown of sides for brokerages:
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