Yahoo! Finance Says I’m In Trouble

From today’s Yahoo! Finance:  The 10 American Industries That May Never Recover.

9. Realtors. The National Association of Realtors reports that there were 1,370,758 realtors in October 2006 — the peak of the market. By the end of 2007, the figure was below 1.2 million. The number is below 1.1 million today and has continued on a downward trend. Home prices have dropped so far and so few homes are sold, that the ability to make money in the business disappears by the day.

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First let me say that I’m glad over 200,000 realtors have gone bye-bye.  I suspect that number will nearly double after December 31 when agents have to pay their yearly dues adding up to over $400 in KC and more in other areas.

Let me also say that as a realtor I am self-employed and like any other business I own or have owned my success or failure is a formula of effort, research, preparedness and a little healthy dose of luck goes a long way.

4 Comments

Filed under Social Issues

4 responses to “Yahoo! Finance Says I’m In Trouble

  1. Terry Williams

    “All in the same boat” of real estate with financing, loss of home equity, short sales and/or eventually foreclosure. REALTORS are subject to loss in a down market as we are gain in a good market. Business goes as the market goes. You have to adjust and be at the top of your game or find a different niche to prosper. Some people will make money in a down market somehow. Money changes hands, which hand do you have out?
    TW

  2. Terry, I’d really rather make money with little or no effort. 🙂 But I guess I’ll just have to keep working.

  3. It seemed as if that last few years made anyone look like a genius in real estate. Now, true marketing efforts, prospecting, and knowing your market will separate the dabblers from the entrepreneurs. Yes, Chris, I think in December we will see even fewer agents – fine with me. Seems to me that starting out now in RE, and following some good models in regards to lead generation, will create a much stronger producer when we eventually rebound.

  4. New agents are in a better spot than they know. I started selling real estate in Tulsa and the market wasn’t good at all. I didn’t know any better so I got to work anyway.

    If you “got in” when the market was just before it’s apex you probably thought answering the phone was selling real estate.

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