many Atlanta realtors quitting the field (sales, real estate, houses) - Georgia (GA) - City-Data Forum

Go Blue 99 · 01-09-2008, 11:48 AM

Interesting article from The Christian Science Monitor:

As housing slumps, realtors quit - Yahoo! News (broken link)

JayRockTeam · 01-09-2008, 01:18 PM

Its kinda sad. Personally, I didn't get into RE to make boat loads of money (maybe a couple of life rafts worth--lol). I just like that it empowers people to move forward towards the life they want and it doesn't hurt that I love the negotiation phases of putting together a good deal. There aren't as many good deals to put together these days, but I see it as a challenge.

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atlantagreg30127 · 01-09-2008, 01:37 PM

I know a couple of realtors and will say that while it certainly doesn't decribe everyone in the field (who are very diverse), you have to be very good at budgeting your own personal finances if you're in the business.

It's almost like construction jobs, or waiting tables. With some construction jobs, you get paid "per project". Once you're done, you make a large chunk of money, but it might be a while before the next one comes along, or, winter sets in and it's the slow season. Waiters/waitresses rely mostly on tips, and tips can be from horrible to excellent day-by-day depending on time, day, season, everything - daily earnings vary greatly.

Realtors are similar. You sell a house and poof - commission. You sell another and poof, more. Then you go three months without one sale and yikes! If you're not a good budget person and put some of those last sales earnings away, then when those dry spells hit you're in trouble. Some are very good at doing that, others not so good.

beefchuck · 01-09-2008, 02:19 PM

It is good to see a correction in the industry and RE agent employment. With high prices in property around Atlanta, banks are not the only ones to blame. All that Flip this house mentality comes around full circle. Too many are just rogue and money hungry.

RE can be just like cars salesmen, looking for that commision at the expense of the purchaser.

George Chong · 01-09-2008, 04:36 PM

It is sad that many people who are real estate agents are getting out of the field - but I think that its a natural progression and the "weeding out of the population". If I got a penny for every idiot real estate agent that I have dealt with in my career - then I could retire early (LOL).

Last year was a good year for me - a six figure income. My phone barely rang in the month of September though. I sell mainly in the City. I think that the main downfall of new agents is that they are under funded when they start out. They also think that they will be able to earn a commission quickly after they acquire their license. Having a license illustrates no mastery of the business. Many new real estate agents come into the business from the corporate world and are use to having a regular pack check - NOT so when you are earning your living on commission only.

Yes - many people hold us as just one (maybe even on the same par as used car sales man) but I have remained and become friends with many of my past clients. I am blessed to be in a vocation that I love and am entrusted in the process of helping my clients find a home, not a house.

jln69 · 01-09-2008, 06:25 PM

Well put. I couldn't have said it better myself.

Quote:

Originally Posted by atlantagreg30127

I know a couple of realtors and will say that while it certainly doesn't decribe everyone in the field (who are very diverse), you have to be very good at budgeting your own personal finances if you're in the business.

It's almost like construction jobs, or waiting tables. With some construction jobs, you get paid "per project". Once you're done, you make a large chunk of money, but it might be a while before the next one comes along, or, winter sets in and it's the slow season. Waiters/waitresses rely mostly on tips, and tips can be from horrible to excellent day-by-day depending on time, day, season, everything - daily earnings vary greatly.

Realtors are similar. You sell a house and poof - commission. You sell another and poof, more. Then you go three months without one sale and yikes! If you're not a good budget person and put some of those last sales earnings away, then when those dry spells hit you're in trouble. Some are very good at doing that, others not so good.

goozer · 01-09-2008, 06:55 PM

It seems to me that most of the realtors who leave the profession are people who jumped in when the good times were rolling and houses were selling with little or no effort. The pros, experienced agents who have weathered market ups and downs, seem to manage to make it through the lean times, albeit with a lower income than during the boom cycles. I think the inexperienced realtors are further hampered in lean times by the fact that many sellers would not want to list with someone who has never had to work hard to sell a house in a down market. I know if I was selling now, I would look for a realtor who has plenty of experience and who has encountered a slumping market before.

jln69 · 01-09-2008, 07:28 PM

Quote:

Originally Posted by goozer

It seems to me that most of the realtors who leave the profession are people who jumped in when the good times were rolling and houses were selling with little or no effort. The pros, experienced agents who have weathered market ups and downs, seem to manage to make it through the lean times, albeit with a lower income than during the boom cycles. I think the inexperienced realtors are further hampered in lean times by the fact that many sellers would not want to list with someone who has never had to work hard to sell a house in a down market. I know if I was selling now, I would look for a realtor who has plenty of experience and who has encountered a slumping market before.

It takes a very long time to build a business as a Realtor. Most Realtors do not make very much at all their first year or two. Most people do not realize that. With that said, unless you have a large amount of money saved up in the bank or another decent income to supplement, it is close to impossible to impossible to survive. People hear that you can make a lot of money in RE and decide to become one (in reality, only the top realtors make decend money). That is another reason that there is such a high turnover rate in the industry.

NorthmeetsSouth · 01-10-2008, 08:24 AM

Just because someone has a RE license that doesn't make them a RE agent. I used to make an excellent living at it in NY, and I have worked with some fine agents both there and here, but there are also a lot of people who get their license just so they can say they are an agent, when in reality it is barely a hobby for them.
I have my RE lic. but I am not an agent. I maintain it for access to info that I need for my building business, and I do a few deals a year for myself, but I don't try to sell or list other people's houses. I think that should be left to the people who do it full time as a career, not to people (like me) who do it as an aside to their real job.

maddy1980 · 01-10-2008, 09:52 AM

I hate to sound mean but I believe less realestate agents is a good thing! And perhaps all the money hungry oppurtunist who invaded this market will leave and let those who love this field and really want to help others take the market back. Again I am not being mean but I strongly believe that the greed motivated many agents to over price homes just so that thier profits could be bigger while causing home owners to end up in debt. And they play a role that cause this to become an american crisis slowing up our economy.