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If you own strip malls, then you are more stable than an agent. If you own hotels, or a few fast food franchises, you are better off than server.
Though, the hospitality industry is notorious for having a lot of short-term, low wage, and less skilled jobs. You'd be surprised how few employees at a major hotel makes more than $100,000. Sometimes the answer is 1 or 2. A mid-size real estate development company could have dozens because of the legal, finance, political, engineering, construction, environmental, high dollar volume sales, etc. jobs related to that industry.
The only people I know that make a good living in hospitality are entreprenuers that own their own successful businesses in the industry.
Though, the hospitality industry is notorious for having a lot of short-term, low wage, and less skilled jobs. You'd be surprised how few employees at a major hotel makes more than $100,000. Sometimes the answer is 1 or 2. A mid-size real estate development company could have dozens because of the legal, finance, political, engineering, construction, environmental, high dollar volume sales, etc. jobs related to that industry.
The only people I know that make a good living in hospitality are entreprenuers that own their own successful businesses in the industry.
In Real Estate Development, they out source legal, engineering, construction, and sales.
The trick to a less volatile real estate career is to be prepared for the downturns. While things are good, take time to meet the foreclosure managers at lenders in your area. They won't be busy and you'll be the only realtor calling on them. When things turn bad, guess who they will call to list their foreclosures with? I had a friend who did that and while others were starving, he had lenders giving him 20 listings a month. Also, take time to meet estate and family practice lawyers. They are a constant source of referrals in good times and bad because people still die and get divorced.
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