The numbers don't look too good for sales of homes...and with the american consumer being grossly gouged over the past 5 years with product being so over-priced, is it any wonder that now we get our due, as realtors?
Do I deserve to make a buck off the misery and percieved value to customers? Am I really just a house-pimp?
2006-07-28 07:47:48 · 7 answers · asked by LovePinkPuffies 3 in Business & Finance ➔ Renting & Real Estate
Are you kidding me? This is dumbest question I ever heard.
If you think it is your fault the housing market went up and people leveraged themselves to the max - then fine take the blame, but you had nothing to do with it.
Your job is selling homes for people - now more than ever ever people are going to need your help.
The question is if you percieve your profession as the cause to this dilemma, then do everyone a favor and quit.
2006-07-31 16:54:51 · answer #1 · answered by Tony 3 · 0⤊ 0⤋
I will preface my answer by stating that I am a licensed Realtor® in the state of Arizona.
I am a new Realtor® myself and I will tell you that the last 7 months that I have had my license have been brutal. I came into the business right when the market was cooling off. Now it seems, in Arizona anyway, to be finally correcting itself not to mention the fact that interest rates are climbing don’t help the housing market either.
Here’s the way I look at the whole situation. Those who can financially stick it out while the market goes through its correction will succeed. Those who can’t won’t.
As far as your ethical dilemma, I don’t believe that you are making a buck off the misery of others. As a Realtor® you have the option to pick and choose with whom you work. If you work with a client who is trying to rip off the public or sell a piece of trash for the proverbial million dollars, then shame on you. If you fulfill your fiduciary duty to your clients and give them good service and professionalism, then you will be fine.
As far as the pricing of the properties on the market, there isn't a whole lot that you can do about it, except find your buyers the best home at the best value.
Good luck in your endeavors.
2006-07-28 10:12:33 · answer #2 · answered by Stephen Newman 2 · 0⤊ 0⤋
I know that the last 6 months haven't been great for home sales, but I've got to say that a realtor friend of mine closes on 2 homes today and is leaving for a weeks vacation tomorrow. This is her 4th or 5th vacation this year. I guess it really depends on where you live, how much homes are going for in your area and your debt to income ratio.
I've been thinking about getting into real estate but am a bit scared. My friend's been in it 10 years and does great. Will I be able to do the same???
2006-07-28 08:00:39 · answer #3 · answered by Ann Chovie 3 · 0⤊ 0⤋
Some of your questions are philosophical.
If you are good in real estate sales, then you have sales skills, and can use those in other industries.
You also have people & organizational skills.
Look at your inventory of skills, and your passions and interests and try to line up those in your next job/career.
As far as RE industry is concerned, it is cyclical like many industries. People in the mortgage and appraisal business will also lose jobs in the RE downturn.
Don't beat yourself about misery and perceived value. A lot of RE sales were by speculators & property flippers who themselves drove the frenzy in the market. Perhaps you can branch out and specialize in foreclosure & distressed sales. Sophisticated RE investors will soon be bottom-fishing for outstanding deals on overpriced properties - if you can find deep-pocketed investors, build up a clientele and help them help you.
For every dark cloud, there is a silver lining.
2006-07-28 07:58:02 · answer #4 · answered by Tom-SJ 6 · 0⤊ 0⤋
When the housing market tanks, a large percentage of realtors stop being realtors. Part-times quit first, full-time newbies are soon to follow. Left standing are seasoned professionals with repeat customers, although even their earnings suffer.
2006-07-28 07:54:20 · answer #5 · answered by NC 7 · 0⤊ 0⤋
The housing market will never tank................yes it will correct itself but will never tank. That "bubble" that everyone has been speaking about bursting has been spoken about for years upon years and has never happened. Regardless of the market people will always need homes and Ill be happy to help you out getting mortgages for them!
2006-07-30 11:01:19 · answer #6 · answered by joelaraia03 1 · 0⤊ 0⤋
it's all part of the job. you can ride it out, get a second/part time job, or quit.
2006-07-28 07:57:44 · answer #7 · answered by thetoothfairyiscreepy 4 · 0⤊ 0⤋