I expect with when the Real Estate market enters a downturn (sales down 24% from last year) and the fed tightens the screws many people will exit the business

We have a national surplus of several hundred thousand Realtors. Many will need to seek other opportunities.  

Did the website designer lose 10 clients because they left the business is what I would want to know.  Losing clients could be the result of something else. 

I recently observed a Zillow agent lucky enough to be chosen among the several offered on Zillow take the buyer client who was very qualified and ready to go FAIL to score the property which is the injury. The insult? No follow up with this client to find another property. How bizarre? If that is the condition of an agent today, dropping out is wise.

Yes it happens a lot.  I've seen this go on for as long as I've been in the business which is a long time!

Yes Peter Mohylsky  cycle in and cycle out when there is real work involved in building relationships over time😎

I would guess that it is a cycle of Realtors retiring Peter Mohylsky and that he will pick up 10 new agents before long. That being said there are always those who get into RE for "Easy Money" and maybe some of them have seen their clientele disappear with the higher rates.

WOW! I believe it, though - there's a culling of the herd ahead.
I just paid mine a F-ton of money to update both of mine . . . 

In my opinion, websites have lost a lot of their effectiveness due to the big guys (Zil, etc.) dominating and after all these years, getting very localized.  I don't see too many newer agents getting websites.

Yes. Market momentum has slowed considerably and along with that a mass exodus will take place. I paid my yearly Board dues already and am in it for the long term!

When the going gets tougher, the low-lying-fruit-gatherers drop out.

Hi Peter Mohylsky I think this is one of those $64K questions. I understand NAR expects 20% of members to leave for whatever reason. The hot sellers market was like bait for people who wanted to make a "fast" dollar. Here we had tons of newbies get a license, join NAR and the local MLS and then discover they had to work. A substantial number of our members have not sold over 1mn this year! And many seasoned ones are getting part time jobs, cutting their teams etc. My answer is YES, and the numbers will be known by Jan 2023. 

Blackrock says we will lose 3 million jobs.

https://www.msn.com/en-us/money/markets/the-cost-of-taming-inflation-could-be-3-million-lost-jobs/ar-AA12jXi5

We already lost one million in mortgage/ related vendors/ title/ and fintech since January 2022. I expect the number to go to 4.5 million layoffs of highly paid jobs.   

Were they satisfied clients who left or did they leave because they weren't satisfied?!

I do foresee a healthy weeding-out of our profession and I can say, I'm happy to see it this time. The number of unqualified agents on the other side of transactions these days has become an embarrassment to our profession, Peter. It's time we get rid of some of these wannabes!

Why did they leave the web site designer? There are web site companies that are not worth the money they are paid, so perhaps they just don't like your designer?

I don't think that the business of one website developer indicates much of anything.  I do think there are people getting out of the business, but there are just as many people getting in.  

The prelicensing school business is going well.

I have not noticed any agents struggling.

This is nothing new- just a new cycle. Most new or newer agents leave the businesss- and a tougher market will just push out a lot of agents that were already on the edge.

People leave and people join.  It's all cyclical

Yes. 

There are numerous reasons he lost 10 clients. Some of those agents could have just switched to another developer/designer, or decided to just use their office/agent web pages, etc.

Yes.  This is very common, especially as the "easy times" turn into "hard times" and agents actually have to... dare I say it... work to sell a home!

So many enter into this profession without adequate reserves or even an understanding of how to do this job or how to live without a bi-weekly paycheck, that many don't make it to the end of their first year.  It's usually around half of the new agents that don't make it to their first license renewal.

Now that the days of "put a sign in the ground and you have 40 offers" are over, you'll see people go back to their day jobs.  This is the way it's always been.  We're even seeing it with the "boom cycle companies" out there, aka the "disruptors" that are now laying off staff like crazy, reducing marketing budgets and agent perks and now starting to charge splits... like a normal brokerage.

I bet that they found something else better. You know, another shiny object to run after. Maybe your web designer should check out his value proposition.

Yes. NAR expects licensees to drop out. Our 4th quarter MLS dues were just paid. I wonder how many people opted not to pay them. Once National dues are due, we'll see who decides to take a step back. Licenses will need to be renewed in June for NC. I suspect we'll see the largest group step back at that time.

Many got into the business when they thought everyone could sell a home.  I do think we shall see fall out in the next few months.

When the road gets bumpy many lose their balance and falter!

Who knows what the reason actually was. I have no idea bout agents dropping out...time till tell. I think the Realtor population is always shifting one way or another depending on the market.