The market’s going to turn … many Realtors won’t survive.
“There are two things that brokers watch: interest rates and the bubble scare. In general, what I’ve witnessed is that brokers are taking a hard and strong look at expenses built in a great market and looking at a normal market — and trying to pair those two things up,” said Kenneth L. Jenny, managing director and CEO for tranCen, a company that offers business advice to residential real estate companies.
Jon Cheplak, a former real estate executive for Better Homes and Gardens of Las Vegas who now serves as a real estate consultant for The Real Estate Recruiters, said he expects that some agents will leave the real estate industry and some companies won’t survive the transition as the market turns. “Some of the people that are making it today won’t make it in the market-shift. You will see many agents getting out of the business,” he said.
As many of my readers know, I think that a slight shift in the market will be a good thing. Home prices may become a bit more affordable/tolerable and the wheat will be separated from the chaff, with respect to the sheer volume of Realtors. Those who perceive this to be an easy, fast-money business will hopefully move on to other careers and leave those of us who depend on and treat this as a profession to continue on.
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