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I constantly think about it for fear of not being able to pay my bills in this crazy market.
Should I just ride it out? Should I find another career?
What are you all doing???
I remember an instructor at a business planning class remarking that not only did agents need a business plan, but they also needed an exit plan. Probably that's truer now than it's ever been. Obviously this slow down is not easily remedied and is not going to make a quick turn around by next spring. And, of course, new home sales are suffering the most.
If you love real estate and have the funds to ride it out for the next year or two (hopefully we'll be through the worst by next fall), then you'll probably do fine. If, like your C-D name indicates, you're exclusively in new homes sales, perhaps you may want to branch out into resale homes or some other avenue (such as being part of a team or working as a licensed assitant).
I'm wondering how loan officers and escrow officers are doing now, too. Seems like there's not nearly as many faces out there now as there used to be.
What am I doing? Working. And posting on this board, lol. I have no plans to change careers. With agents leaving the business this is a great time to be establishing a presence.
I'm working, actually looking forward to a slow down over the holidays. I love my job - will be in the business until I retire at age 90. In fact, I'm thinking about buying some rental properties. Credit scores are tightening up, PMI rates are on the rise, it's becoming increasingly difficult for some buyers to qualify for loans. My solution? Put those future buyers in my yet-to-be-purchased rental properties until they CAN buy their own home!
I'm working, actually looking forward to a slow down over the holidays. I love my job - will be in the business until I retire at age 90. In fact, I'm thinking about buying some rental properties. Credit scores are tightening up, PMI rates are on the rise, it's becoming increasingly difficult for some buyers to qualify for loans. My solution? Put those future buyers in my yet-to-be-purchased rental properties until they CAN buy their own home!
If things slow to a standstill, and RE becomes a dead field, you may be spending many years in Springfield without a paycheck before you reach 90. Let's hope the social security benefits are enough to keep meat on the table till the 90th birthday.....BTW, say hi to Rod for me!
I heard an instructor once say look to your left, now look to your right. 2 of you won't be here next year. If it isn't your neighbor, then it's probably you.
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Obviously this slow down is not easily remedied and is not going to make a quick turn around by next spring. And, of course, new home sales are suffering the most.
