Considering the fluxuations in the market place and all the media hype are real estate agents suffering, making about average or what is the real situation with agent profitability right now.
2007-11-22 15:36:51 · 5 answers · asked by rcdrphoto 1 in Business & Finance ➔ Renting & Real Estate
Depends on how hard you are willing to work. The good agents make money no matter what the market is doing. There are always people who need to buy and sell no matter what the papers Say, as long as you can attract these people you will be successful.
RE Agent,
Remax
2007-11-23 03:44:37 · answer #1 · answered by frankie b 5 · 0⤊ 0⤋
it varies by type as well. Commercial and Industrial agents are still doing well in many areas, perhaps most. And they're thinking slowdown coming for next year.
Residential agents are hurting in many areas. They had about six or seven good years there, some of them very good years, and now it looks like they'll have two to three lean years [more in some areas].
The nature of the business in both types is cyclical. All the long term agents know this and prepare accordingly. In the slow times, they'll make little money, so they make as much as possible in the good times and salt it away for the lean times.
A few areas are really hurting. Cleveland. Detroit. Looks like the economy is contracting in both cities and real estate is in rough shape for both lines. Some folk are moving out and some RE agents are going out of business.
GL
2007-11-22 23:45:56 · answer #2 · answered by Spock (rhp) 7 · 0⤊ 0⤋
Agents can make money even in hard times. For instance, when the markets are bad, there is always investor money wanting to get in.
Also with more foreclosures, banks need more agents willing to work for them to get the houses off their hands.
The only thing to really worry about in real estate markets is when the interest rates get out of hand, currently the fed seems to be keeping them under control.
2007-11-23 00:43:29 · answer #3 · answered by smelloyello 3 · 0⤊ 0⤋
People buy and sell houses for many reasons. Right now there are bargains for buyers. There are sellers desperate to unload their house.
In short, houses sell in good markets and bad.
Typically, the buyer's agent gets about 3% and the seller's agent gets about 3%. Of course, as an independant contractor, you pay ALL your expenses and your broker gets a big cut. You probably NET closer to 1.5% for each side of the transaction.
2007-11-22 23:40:51 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No they are getting on lean times, but of course this varies per region.
2007-11-22 23:39:43 · answer #5 · answered by cashew 3 · 0⤊ 0⤋