But What About All The Brokers?
Guess how many real estate agents there are in this country? More than 1.2 million. During the boomtimes of 2002 to 2004, there was a 26 percent increase. Now, with the number of real estate transaction forecast to fall 7.6 percent this year, the question is how are all these folks going to continue to…
Guess how many real estate agents there are in this country? More than 1.2 million. During the boomtimes of 2002 to 2004, there was a 26 percent increase. Now, with the number of real estate transaction forecast to fall 7.6 percent this year, the question is how are all these folks going to continue to put bread on the table. The National Association of Realtors is predicting that those who came last to the party will be the first to leave: With less low-hanging fruit to pick, those without established networks will find it toughest to generate commissions. We’re curious whether anyone’s noticed a thinning of the ranks among brokers in our corner of the universe. How ’bout it?
Real Estate Downturn Hits Agents [CNN/Money]
Graphic from Lisa Saltman Real Estate
yeah…that’s a great show. really shows the headaches aches and pains…on a grand scale!
For anybody that thinks being a broker is easy, there’s a great program on Bravo called “Million Dollar Listing”. One viewing and you’ll see what we have to put up with and how often what we do leads to zero do-re-me. It’s a tough, tough job. There’s no such thing as “low hanging fruit” in this biz.
No, the boom was strange. 300% ROI. The media argument cancels out because it was also there during the run-up.
everyone thinks it’s easy money. this business has a 90%…yes, 90% failure rate. Guess it ain’t so easy after all!
Time for people to stop being suckered into classes given by the South Slope company that advertises you can earn your license in 1 week. Their advertisements are EVERYWHERE. Schlock-shop.
it’s not about the 6% (and let me tell you, brokers EARN that money…every single cent of it). It’s exactly what the article and others have said: fierce comptetion and everything is constant constant constant. you have to be attentive 24 hours a day (how many people can say that about their doctors!?) You have clients who string you along, mess with your head, dangle things in your face to make you sit up and beg. I am tired of people saying it’s easy money or we don’t earn what we make it’s given to us. Yes, granted there are a handful of really really bad agents who give the rest of us a bad name. But I believe half the time the agents jump through hoops to make the deal happen. It might not be brain surgery or rocket science but it is a huge step in most people’s lives and I for one are grateful to make them happy when I can.
I do agree that the market is strange right now and it’s partly because of the media and partly because of greed. I for one am taking a breather from this rat race.
Time to go back to working at the foot locker, anyone need a size 9 ?
Maybe they should not charge 6% anymore. When I go to sell my brownstone, I am not giving an agent 6% of 1.8 million. Sorry.
Is that Roseanne Barr?