Steven Burch breaks down the real estate market: 8.2 million transactions annually, $800 million in commissions in 2023, and 80-90% of sales driven by life events like moves and job changes, not market timing.
8.2 million transactions
$800 million
80–90% of transactions are based on life events
I am pretty sure that everybody in this room can live on 8.2 million transactions. You just have to get your unfair share. But so there's plenty of business out there. By the way that this the next number. There are approximately $800 million worth of commissions created in 2023. But regardless of the economic structure and situation, people still move. The one thing to remember, 80 to 90% of all transactions are based on life events. It's the number one reason they move. People don't actually time the market.
