Number of real estate agents is surging

The day Dougan Jones received his real estate license in 1979, interest rates were topping 18 percent and few people were buying homes.

Fewer, still, were the number of people trying to make a living in the often turbulent and competitive industry of real estate sales.

Twenty-six years later, a red-hot housing market and the lure of "easy money" are attracting thousands of Utahns to embark on a career in real estate.

"It's not uncommon in certainly active hot markets for people to get in the business," said Jones, now chief executive officer and owner of Park City-based Prudential Utah Real Estate. "There's a lot of transactions."

As of June 30, the number of licensed real estate agents in Utah was 19,405, a 27 percent rise from 15,260 agents in fiscal year 2002, according to the Utah Division of Real Estate.

In fact, real estate agents outnumber nearly every other licensed profession in the state, including certified public accountants, contractors, electricians, massage therapists, registered nurses and physicians. Only cosmetologists and barbers boast higher numbers, according to Clark Caras, a spokesman for the Utah Department of Commerce.

Despite the competition from other agents, many people see the relatively easy entry into the profession as a quick way to cash in on Utah's booming housing market.

They are people like April Wilcox, 24, of Sandy, who last week finished the 90 hours of course work required by the state before taking her real estate exam.

"My husband is an investor," Wilcox said. "We were paying money to an agent, and we thought that was silly when he could pay money to me."

Wilcox said she will go to work for a small local brokerage to gain experience.

"I think that sometimes people get confused about what our role is as real estate agents," Wilcox said. "We're not there to just take their money and to leave them high and dry. We're there to market their house."

Others, like Emmanuel Balane, 41, a former restaurant owner, see real estate as a path to financial independence. Balane said he is certain he can earn more than $50,000 his first year as an agent. He even has set his sights on making more than $100,000.

But what if mortgage interest rates suddenly rise and fewer people purchase homes?

"I don't think the market will go down like that," Balane said. "A lot of people from different states are coming over to Utah and are buying houses. A lot of people are buying homes for investment."