Real Estate Agents Throwing In Their Towels
Competition in the market has finally taken over the realtors. Real Estate agents, who are not successful enough in this field, are now thinking of alternative careers. All this started with the plummeting real estate market prices. The increase in real estate business has not been going in tandem with the number of aspiring professionals entering into the market. Currently the situation is such that multiple realtors are handling a single property deal. Whoever is lucky enough to strike a deal with the customer, gets the money.
David Lereah, chief economist of National Association of Realtors, predicts that in the near future there will be very few real estate professionals working in the market. He feels that the average membership of the association would come down annually.
However, the vice president of the Minnesota Association of Realtors, Christopher Galler has an altogether different opinion. He feels that due to this competition, many inexperienced realtors can lure the customers by quoting reduced commission rates. This could be dangerous to the market since the customers would end up facing a loss in terms of the quality of service provided. He feels that a realtor with abundant experience can easily handle problems and assist the customer better during the property transactions.
Even though they do not have good business, many agents stick to the market with the hope that one day they will make a big deal and strike it rich. A good deal means that if an agent makes a deal of $1 million, he makes a minimum profit of $20,000. Is that not a substantial amount? However, unfortunately, very few agents succeed in striking such great deals.
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