Should you begin a real estate career in this slow real estate market? Some may argue no, but here are some reasons to start your real estate agent career now.
Competition simply by the sheer number of real estate agents is dropping. Less than ten years ago, real estate was booming and the number of people becoming real estate agents grew as fast as their area’s market value was growing. Real estate agents during this time didn’t have to work as hard since so many people wanted to sell their homes and buy new homes. Now, those agents do have to work hard because of that fast growth of real estate agents less than ten years ago. It created a lot of competition among real estate agents and many of them didn’t learn how getting customers and selling really worked since the booming market took care of that for them. Those real estate agents, produced from the real estate boom, are finding it hard to make ends meet and are leaving the profession (some quickly, some slowly) which leaves openings for new agents to enter the real estate market.
If you start now, you’ll be firmly entrenched for the next real estate boom. Will there be another real estate boom? Of course. But it might not be for a while because the real estate market has to correct itself. Real estate, as with most anything, goes through cycles. Right now it’s cycling downwards like a rollercoaster so to speak, but if you learn how to handle your money for the tough times you’ll be able to better weather the down cycles and survive them to be at the top of the up cycles. If you work hard and establish your reputation and name as a real estate agent during this market then when the market is good again you’ll have an edge over the prospective real estate agents who will want to enter the market during the next real estate boom.
You’ll really have a chance to work with people and understand real estate. When the real estate market was growing at such a quick pace it was almost just like moving cattle. Real estate agents didn’t have to worry about their sales or people skills too much because there were plenty of people wanting to sell and wanting to buy houses. If customers switched real estate agents it didn’t matter so much because there were plenty more customers out there. Now real estate agents need to hold on to their customers and provide good service to those customers. During a slow real estate market, you’ll pick up invaluable sales and customer service skills.
The saying in real estate goes: a third of real estate agents are in the business, a third of real estate agents are getting into the business and a third of real estate agents are getting out of the business. If you have the resources to get into a real estate career now and make it through the slow real estate market, you’ll be that much more successful when the market picks up.
