I have heard it many times lately – that the horrible real estate market, the massive forecloseures, and the economy have all made being a successful realtor right now almost impossible. I am sure it is a lot tighter for most realtors, and they have to probably work many times harder than they usually do for the same return they were getting a few years ago.
How dire is it? I have personally dealt with 2 different realtors over the past couple of years. The most recent one has been in the business for about 20 years, so she is most certainly a “veteran.” I asked her how business is, and she said it is certainly not as good as it was not too long ago, but since she is established, and has proven herself, she is doing just fine. Fortunately, she has saved a lot of money over the years, and I am sure she has learned that being a realtor is cyclical, and that it isn’t always going to be a gold rush.
On the other hand, I have had some dealings with another realtor a few years ago that I have learned is now out of a job being a realtor, and has opted to do childcare until things get better. She is very young and hasn’t been in the business for more than a few years.
I think the realtors who have been around for a while, and who have developed the contacts, and the relationships will do fine. It is the younger ones that I believe you will see moonlighting as restaurant workers or who are in the unemployment line.
Of course, this is only an observation based on limited evidence, but I do think it can hold water. I do wish all of the realtors out there the best of luck during these challenging times.