It’s not hard to understand. It has been a hot market.
Chris Palmeri at Business Week examines the trend:
Thousands of Americans have flocked to the business, most notably as Realtors and mortgage brokers. But Stan Ross, chairman of the University of Southern California’s Lusk Center for Real Estate, notes in a new book, Inside Track to Careers in Real Estate, that real estate job seekers, whether they be recent college grads or older folks looking for a mid-career switch, need to look beyond the obvious professions. That’s true especially as the nation’s hot housing market cools. Ross notes that megatrends are sweeping the industry, creating all sorts of new opportunities.
He makes a great point–that there are more diverse opportunities in real estate than ever before. Everything from experts on green building techniques to developing public/private projects… it’s time to think outside the box.
The incredible flood of new agents has been clear in Manhattan, where the greatest percentage of them are struggling to stay afloat. My company alone has doubled the number of agents it has working in its Westside office, and many of these new agents are seeking creative ways to procure buyers and sellers.
For instance, some volunteer to help a more seasoned broker with open houses in exchange for the opportunity to sign up the buyers who attend the open house. Others have offered creative ideas about how they can assist with properties that have been more difficult to sell, in exchange for a piece of the deal.
The influx of people has forced new agents to become creative. It doesn’t mean they will all succeed, but it does mean there’s some real innovation going on, which has a positive effect on the quality and professionalism in the industry.