The Post-Settlement Shift: How Listings Are Concentrating Among Specialized, High-Producing Agents

By Rob Keefe, President, Founder and CEO of Relitix

The 2024 NAR settlement has reshaped the residential real estate industry, creating a new dynamic in how listings are distributed among agents. Recent data highlights a growing trend of specialization, increased productivity, and market consolidation. Notably, the median listing is now held by agents who are more focused on the list side of transactions and are higher producers overall. This shift is further underscored by a new analysis showing that agents taking at least 15 listings per year achieve significantly higher proficiency in converting listings to closings.?

The New Profile of the Median Listing Agent?

Before the settlement, the median listing was handled by an agent with:?

• $3.5M annual production?
• 15 listings/year?
• 64.7% list-side focus?

By February 2025, the profile of the agent handling the median listing has shifted:?

• 20% higher production?($4.2M annually)?

• 33% fewer listings taken annually?(10/year)?

• 68.2% list-side focus?

This evolution reflects a market where specialization and quality outweigh volume. While agents are taking fewer listings, they are closing more valuable deals and focusing their efforts on seller representation. This aligns with broader trends in which sellers increasingly demand agents with proven expertise and a track record of success in navigating post-settlement complexities like commission transparency and compliance requirements.?

Proficiency Threshold: 15 Listings Per Year?

A deeper analysis of agent performance over five years reveals that proficiency—measured as the ratio of listings taken to closings achieved—significantly improves for agents handling at least 15 listings per year. The data shows a clear upward trajectory in proficiency as listing volume increases, with diminishing returns beyond this threshold.

Agents taking fewer than 15 listings annually exhibit lower conversion rates, likely due to limited experience or inefficiencies in managing transactions. Conversely, those surpassing this threshold demonstrate mastery in converting listings into closed deals. This finding underscores the importance of experience and volume in building the skills necessary for consistent success.?

For brokerages, this insight provides a tangible benchmark for identifying high-potential recruits and supporting mid-tier agents aiming to scale their business. Recruiting software can play a critical role here by tracking listing-to-closing ratios and helping brokerages identify candidates who are nearing or exceeding this proficiency threshold.?

Market Consolidation: Top 10% Agents Control 42.64% of Listings?

The concentration of listings among top-performing agents has grown significantly post-settlement, with the top 10% now controlling 42.64% of all listings—a 16.6% relative increase from pre-settlement levels. This consolidation reflects a market increasingly dominated by experienced agents who can justify their value to sellers through superior results and compliance expertise.?

This trend also aligns with the observed proficiency threshold: top producers often exceed 15 annual listings, allowing them to refine their processes and deliver results that attract more clients. Sellers, wary of navigating post-settlement complexities on their own or with less experienced agents, are gravitating toward these proven performers.?

Implications for Brokerages and Recruiters?

These findings highlight critical opportunities for brokerage leaders and recruiters to adapt their strategies:?

1. Target List-Side Specialists? The increased list-side focus (68.2%) among median listing agents underscores the importance of recruiting specialists who excel in seller representation. Look for candidates with certifications like SRS (Seller Representative Specialist) or strong list-to-close ratios exceeding market averages.?
2. Leverage Recruiting Software for Proficiency Metrics? Use real estate recruiting CRMs to track agent performance metrics such as annual listing volume and listing-to-closing ratios. These tools, fed by data providers like Relitix, can help identify candidates nearing or exceeding the critical 15-listing threshold, allowing brokerages to recruit or develop high-potential talent.?
3. Support Mid-Tier Agents Scaling Toward Proficiency? Mid-tier agents represent an untapped growth opportunity for brokerages. Provide targeted training programs focused on scaling their listing volume while improving transaction efficiency to help them reach the critical proficiency level.?
4. Retain Top Producers With Strategic Incentives? With top-performing agents controlling an increasing share of the market, retaining these individuals is crucial for brokerage success. Offer incentives tied to closing efficiency and price growth rather than raw volume to align with post-settlement dynamics.?

Conclusion: A New Era of Specialization and Proficiency?

The flow of listings in 2025 reflects a market that rewards specialization, experience, and measurable results over sheer volume. The median listing is now handled by an agent who is more focused on seller representation and demonstrates higher annual production than before, while top performers continue to consolidate their dominance.?

For brokerages navigating this new landscape, leveraging real estate recruiting software to identify proficient agents—particularly those meeting or exceeding the 15-listing threshold—will be critical to staying competitive. By prioritizing specialization and supporting mid-tier talent aiming to scale their business, brokerages can position themselves for long-term success in this evolving market.?

A deeper analysis of agent performance over five years reveals that proficiency—measured as the ratio of listings taken to closings achieved—significantly improves for agents handling at least 15 listings per year. The data shows a clear upward trajectory in proficiency as listing volume increases, with diminishing returns beyond this threshold.???

Agents taking fewer than 15 listings annually exhibit lower conversion rates, likely due to limited experience or inefficiencies in managing transactions. Conversely, those surpassing this threshold demonstrate mastery in converting listings into closed deals. This finding underscores the importance of experience and volume in building the skills necessary for consistent success.?

For brokerages, this insight provides a tangible benchmark for identifying high-potential recruits and supporting mid-tier agents aiming to scale their business. Recruiting software can play a critical role here by tracking listing-to-closing ratios and helping brokerages identify candidates who are nearing or exceeding this proficiency threshold.?

About Relitix

Relitix, a leader in AI-powered brokerage management, supports real estate leaders across 130+ U.S. markets. Profiling over 1.2 million agents and brokers, Relitix delivers unparalleled insights to help brokerages recruit, coach, and retain top-performing talent while driving operational efficiency and growth. At the forefront of this innovation is the Relitix Office platform, a groundbreaking solution offering real-time intelligence on agents, offices and listings, including at-risk listings, agent performance, M&A opportunities, and competitive positioning. By leveraging advanced AI and data science, Relitix empowers brokerages to make smarter decisions, accelerate growth, and gain a definitive edge in an ever-evolving market.

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