Slumping Market Strikes Home

Newly minted real estate agents are leaving the market in droves, said Bob Hogue, who teaches real estate. The state requires new agents to take additional courses in the two years after they graduate in order to renew their licenses. About a fifth of 24,670 new agents up for renewal last month didn't renew, Hogue said. Hogue's own enrollments, which peaked with the market two years ago, are down 70 to 80 percent. New agents, many hoping to get rich quick in a red-hot market have learned a hard lesson with the downturn, Hogue said. "They were stunned by the sudden change," he said.

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