The
latest
findings
from

Relitix’s
Agent
Movement
Index
(AMI)
for
March
2024
reveal
a
nuanced
landscape
in
the

real
estate
sector,
with
shifts
in
agent
activities
suggesting
stabilizing
and
evolving
market
conditions.

Key
highlights
from
this
month’s

AMI
show
that
the
decline
in
the
number
of
active
agents,
those
with
a
closing
in
the
past
year,
has
plateaued.
This
stabilization
is
possibly
linked
to
a
resurgence
in
property
sales,
hinting
at
a
more
buoyant

housing
market
ahead.
Moreover,
the
AMI
reveals
an
upward
trend
in

agents
switching
between
brokerages,
though
the
expected
peak
for
March
fell
short
of
previous
highs,
the
overall
trend
continues
generally
upward.

The
broader
impact
of
the


National
Association
of
Realtors
(NAR)
settlement
is
still
unfolding.
Agents
are
yet
to
fully
adjust
to
these
changes,
with
upcoming
months
likely
to
clarify
whether
agents
will
prefer
stability
or
seek
new
opportunities
amidst
shifting
industry
dynamics.

This
month’s
data
suggests
that
while
the
agent
market
has
faced
considerable
flux,
there’s
now
signs
of
emerging
stability.
We’re
closely
monitoring
how
these
changes
affect
agent
decisions,
especially
in
light
of
recent
industry-wide
shifts.

The
AMI,
a
robust
measure
of
agent
movement
dynamics,
is
calculated
from
extensive
national
data
drawn
from
major
MLS
systems
and
is
released
monthly.
It
includes
both
raw
monthly
figures
and
seasonally
adjusted
data
to
provide
a
clear
view
of
underlying
trends.

March’s
report
saw
the
AMI
reaching
a
score
of
114.6,
with
the
seasonally
adjusted
figure
slightly
lower
at
122.3,
reflecting
ongoing
adjustments
in
the
market.
These
metrics
serve
as
critical
indicators
for
brokerage
firms
and
real
estate
professionals
looking
to
navigate
the
ever-evolving
real
estate
landscape.

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.

Methodology: 
The
Agent
Movement
Index
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. 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.

Rob
Keefe
is
founder
of Relitix Data
Science.

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