Sooner or later.
The local newspaper folks have had their way with the real estate industry for quite some time. Not sure if it was a slow news day, but they must have enjoyed writing this one...
A photo story on how Realtors are leaving the business, complete with in-depth interviews with a few Realtors that had to find a steady paycheck. The story ran in the 9/23 issue of the East Valley Tribune, and was balanced for the most part. The writer did her research, pointing out that the ADRE is still churning out 500-600 new agents per month, and expects to hit 100,000 by the end of the year.
Yikes! Do we really need 100,000 licensees in AZ? Do we need 1.4 million in the country? The answer is NO to both questions. As a big believer in letting the free market work out the kinks, I also have a compassionate side to me that aches for those who have come on board a wonderful profession at a not-so-wonderful time. It is the same compassion I have for sellers who are doing everything right, but there are just no buyers for their home. Fortunately, at least for now, the imperial federal government has not stepped in to regulate the industry (too much - we DO have plenty of oversight on the lending side), so these folks are just as free to fail as they were free to succeed in years past. Life is curiously funny that way, as the featured agent in the story pointed out - she now has found a job that she loves - helping rescue animals.
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Pat,
Yeah, I saw this article too and I agree it was a balanced view. I found it interesting that so many are stilling getting licences. I think the view is to use it to buy sell their own properties. So, it may not be that there are going to be that many more active and full time agents.
Thanks,
Shailesh
Wow- that number sounds insane!
Even if that many get their Real Estate license, it doesn't mean that all will be active. Statistics in our location have shown that only 40% who receive their license actually use it. Then within the 1st year out of those numbers, only 32% continue to work actively as a Realtor.