In today’s Sunday edition of Dubuque’s Telegraph Herald there’s a great article about choosing a career in real estate. Today’s rather “shaky” economic climate and more particularly, the real estate market, might make a few people consider those of us in real estate as crazy. James Patterson of Ruhl & Ruhl is a budding local Realtor and the article discussed the challenges faced by new Realtors in today’s market.
From James:
“I’ve wanted to do this since I was a kid. Some boys dream of being a fireman or a police officer or a professional athlete. I wanted to sell houses. Nobody’s saying it’s not hard. This isn’t for everybody. You have to be dedicated, and I mean really dedicated.”
The article also features your truly several times to discuss the local market, our current year to date sales totals and averages, as well as a few words about weathering this tough market and coming to the realization that there is plenty of work to do for quality Realtors in any market. Money quote:
“Good agents recognize that no matter what the economic conditions are, there is still stuff going on” Cook said. “Divorces, deaths, young couples starting out, older couples downsizing – this happens all the time, no matter what the local or national economy is doing, and we have to be there to help our clients.”
Read Full THOnline.com Article Here…
Gwen Kosel of Remax in Dubuque lays is out of how hard it is those first couple of years in real estate:
“You will most likely lose money the first year,” she said. “The second year you might make a little bit of profit. But around here, people have the idea that you become a real estate agent, and you make a ton of money. That’s not the case.”
I can tell you from firsthand experience the same thing. When I arrived to real estate in 2004 – a much stronger market in terms of the number of sales – I struggled mightily. I did alright, I think I sold nine homes in that first year. But I was definitely in the negative in terms of income that year. Try this to see what it’s like – bring home a paycheck with a negative number on it – see how well that goes over with the wife and kids.
I find that if an agent can weather that first two to three years, get in a groove & manage his/her business well, they can make it. It’s just that the odds are against them. I don’t know the exact figures from the Iowa Association of Realtors, but I’ve heard several times that of all brand-new licensees each year, only about 25% of last in the business long enough to see their first license renewal, due after three years in the business.
Read Full THOnline.com Article Here…