Real estate agents face awful US market
According to recent surveys, if real estate agents hold on, they will survive the downturn in the US housing market. Agents face drastic job loss here.
There is little doubt that with fewer homes being sold in the US that fewer real estate agents will be needed to do the work. Over the last few years during the property boom here, brokers hired as many agents as they could in hopes of getting the largest share of the profit they could. This is no longer the case.
But, according to many experts, if real estate agents hold on long enough, they will do just fine. Many agents, who work solely on a commission basis will have to leave the market to find steady employment to feed families. In the past, slowing market cycle saw real estate agent loss that was significant. Yet, while those drop out, the situation looks better for agents that remain in the loop.
Little doubt exists about the state of the US housing market with falling home prices, increasing inflation and the number of foreclosures hitting record numbers throughout the country.
Many of those that will leave are agents that have recently entered the business or those that do it as a hobby, rather than a career. Veterans are likely to still see opportunities as housing sales may drop but never stop totally.