many have returned to flipping burgers, being full time house wives, and some are shorting MOVE and making a killing. The few top producers are wise and will keep making a nice living.
Smartmoney knows the cycle will likely take 2/3 years before the residential real estate sector gets out of the rut. Conclusion - MOVE's top line will be flat at best. This stock has been dead money since 2003. If this stock can speak, it would be saying, "help I've fallen and I can't get up."
MOVE and SOLD are the cow chips in the real estate media space. As badly as SOLD has performed, it's 52 week chart beats MOVE.
Invest at your own risk! Do your own research before investing.
The stats I've seen haven't shown massive pull out by agents. In fact, I believe the number of licenses continues to grow. That doesn't mean they are active agents though and a lot are taking other jobs since there aren't enough transactions to go around these days.
What should be interesting to see is what impact the reduced number of listings has on Move. Since Move determines the charge for enhanceed listings based on what the agent listed in the previous 12 months, I wonder how many agents that are current subscribers will go down a level (or two) when they are up for renewal. Since Move charges for enhancements at the start of the 12 month period, we won't see the revenue impact right away.