Over the past few years, a great deal attention has been placed on the increase in the luxury real estate market in New York City. As this market continues to thrive and to grow significantly, it has had an impact on the entire New York City real estate industry. As the luxury market continues to grow one of the repercussions of this success has been the amount of new agents that have found their way into the city, particularly in neighborhoods such as Brooklyn and Manhattan where luxury real estate tends to pop up within the market. According to new reports, New York City has seen a 7.2 percent jump in licensed real estate professionals in 2013; a jump that professionals expect has been helped by the luxury apartment boom in the New York City market. The report, as published by The Real Deal, has indicated that the correlation between the boom in the luxury real estate market has directly impacted this boom.
According to these reports, the number has jumped to more than 29,500 real estate professionals in the city. The report also details that Manhattan alone has seen a 7.4 percent increase in the number of real estate professionals who have found their way into the city. In Brooklyn, the number of real estate professionals in Brooklyn is up 9.2 percent. With numbers such as this being recorded it is clear that the number of real estate professionals finding their way into the already competitive New York City market is growing exponentially.
These numbers were officially recorded by the New York Department of State. However, these numbers do not distinguish residential brokers from commercial brokers or agents. While these two types of brokers were clumped together, the statistics reveal that the majority of the growth in real estate was expected to almost certainly be in the residential side of the business. As the amount of luxury homes continue to find their way into the New York City skyline and their continues to be great potential earnings for real estate professionals within the market, these numbers are only expected to increase in the future. With plenty of new luxury buildings being built in New York City in 2014, professionals are expecting to see another increase in the number of realtors that find their way into the market.
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