Prediction 9: The number of realtors and transaction fees will continue to fall in 2021 Approximately 5.4 million homes are sold each year by 106.543 real estate brokerage firms (The median number of sold homes per brokerage firm is 50.7.). In addition, the median gross income of a realtor in 2019 was $49,700. A benefit of technology use is better service to real estate buyers and sellers and increased efficiency of real estate professionals, which means the same realtor will handle an increased number of listings without increased time and effort with greater efficiency The added capability of the industry will intensify competition and lower prices for customers. The number of realtors may shrink significantly, the survivors being those who exploit technology to the maximum extent. Overall, the industry will become better trained with better tools and flexibility to meet changing market conditions. Prediction 10: Home sellers will continue to have a market advantage in 2021 As a result of the considerable buyer demand compounded with low inventory, sellers have the upper hand. Prices have consistently been higher this year than last - even during the housing slowdown - and continue to rise. For those sellers who have been sizing on the sidelines, 2021 is an opportunity to sell your home fast, perhaps without having to make concessions for the sale to occur. About Thomas O'Shaughnessy FOLLOW REALTY BIZ NEWS