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Real Estate Careers in an Unstable Economy

May 7th, 2010

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Real Estate careers have never faced so large a challenge as they have in recent years, with the housing market crash and the thousands of foreclosures which took place throughout the country.  Many of us no longer know what to make of real estate agents: are they swindlers or helpers?  We still hold a deep mistrust for anybody remotely related to the housing industry because of the thousands of stories we saw on the news of people who were basically dragged out of their homes by banks, largely the result of the banks’ own financial crisis.  These images did not leave many of us renters with a good taste for the real estate industry.  However, real estate careers remain thriving despite the most grim economic outlooks because the economy is slowly bouncing back.  People are beginning to realize that real estate agents were not the bad guys in this debacle, but banks were a large part of the fiasco instead. 

Real estate careers are obviously not in the easiest industry at the moment (have you seen how difficult it is to sell a house?), but they are still available for people who enjoy a challenge.  It is easier than ever now to find a cheap foreclosure, but the trick is to market it to people who know it is a foreclosure, know that it will require much work, and know that they are basically buying someone’s life savings that the bank took away.  Not a pretty picture for many of us, but others are ecstatic with the prospect of owning a home due to the low housing prices.  Therefore, real estate careers are pretty hit or miss, regardless of the area of the country in which you live.

In order to be successful as a real estate agent, however, you must be personable and must be appealing to any type of person.  Demographics aside, you must be able to sell a house to anyone.  It takes a special type of person to do this, which is why many larger real estate companies are so selective when hiring.  Additionally, real estate agents must past extensive tests to be able to receive their license to sell homes or rental properties – tests which are ranked equivalent to graduate school entrance exams.  Once you embark on your real estate career, however, the sky is the limit.  As you gain more experience, you will be trusted with larger sales (and in major metropolitan areas, this can mean million-dollar home sales). 

The economy may have temporarily dulled our sense of the real estate market, but it has bounced back, stronger than ever, and ready for a new generation of real estate agents. 


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