Too Bad, So Sad.... Buh-Bye!
As red-hot real estate markets begin to cool, veteran real estate professionals expect that many newcomers to the business will seek out easier ways to make money.
Veteran real estate professional Ray Brown, co-author of the real estate primer “Home Buying for Dummies,” says it's a good thing when the market weeds out the least devoted practitioners.
He's seen it happen many times before as the housing sector expanded and contracted over the past 30 years."If you can imagine a wind going through a forest and blowing all the dead branches off the trees, that is not bad," he says.
"Nature is pruning. The weakest agents will be the first to go. I don't care how tough the market gets, the finer agents will be there."
“When sales are brisk, it’s a lot easier to make a living in real estate. But when inventory grows, part-timers and newcomers are often the first to find another career. Veteran real estate professionals expect that many newcomers to the business will seek out easier ways to make money.”
“‘When the market is hot, agents come out of the woodwork,’ says Diana Lusk, a San Diego, Calif., real estate practitioner. ‘When the market cools down they go back to what they were doing before.’”