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Well, There's Always Real Estate!

One of my best friends is having a mid-life career crisis. She is a journalist, and her employer (for the past 28 years) is going through a little bit of a shake up.

So today we were talking about it. She's got a great job that she does incredibly well in a highly competitive field. She's not real excited about the thought of making a career move and, of course, was imagining the worst (which I just know will not happen).

And as she was painting a picture of unemployment, starvation, foreclosure - you know, all the evils - I interrupted her.

"You know," I said, "there's always real estate!"

And that (and a bunch of wine we'd just consumed) seemed to make it alright.

Then I started to think about how, with all of the uncertainties in this business, we do have a certain amount of control that people working for big corporations lack. As an independent contractor working for a brokerage firm, the broker works for us. If, for whatever reason, the relationship stops working, we can move to another firm. It's usually up to us, not someone in an office halfway across the country.

So, at the end of the day, my friend understood that the worse thing that could happen to her was that she'd have to get a real estate license, and it didn't seem like such a terrible thing!

Hey! Real estate resolved my mid-life career crisis!

Posted by Patricia Kennedy on 10/16/2009 09:23 PM

Comments (18)

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18 Comments on Well, There's Always Real Estate!

OCT

Hey Pat,

Funny, but many peope in real estate want something else to "fall-back on" at time. I think "and a bunch of wine we'd just consumed..." sort of says it all, right?

Just kidding, in reality while talking with a friend not long ago I mentioned that I wasn't much of a risk taker myself, he looked at me and said something to the effect "Are you kidding, you get up everyday and go to work not knowing if/when you're ever going to be paid again, no sick pay, no vacation, etc...doesn't sound to me like someone who doesn't take risks." After more though, I guess he was right.

Good luck to your friend.

I've been in a mid-life crisis for most of my life. Real estate is about my fifth career, but I am a firm believer in changing careers at least every decade whether you want to or not. It keeps you motivated, hungry, and on the edge of your seat!!!! Why not?

Hey, Pat! Careful with that wine. We've got too many agents already! LOL

Lynda, while I still get those freak out moments of wondering if I'll ever sell another house, I know that I will. I think that after a while you know what works and just do it. We may not get sick pay or paid vacations. but we probably earn more than we would at a desk job.

And Peggy, wow! then I'm really overdue for a change.

Barbara, you have a new picture! I like it!

Hi Pat... From a long term perspective, real estate could be a great mid-life career change, but I am sure you told you friend the earnings potential has a "ramp up" and these days it seems slower and fletter for most newbies. Or did the wine eclipse that? ;)

I've had several friends ask me about getting into real estate because they think it's easy. Once I sit down with them and tell them different scenerios of things that happen, they all happily stay where they are.

Steve, I think it's almost better to start of in a "bad" market. I did and I had to learn good work habits and skills you don't need in a "good" market. I know some newbies who are really doing well. And she has a huge center of influence. She might even have a fan club.

Patricia,

Do you even understand what a grave danger you are putting yourslef in? You used Real Estate to cure the crisis, while you:

1. Not a doctor to offer a cure

2. Used a drug not approved by FDA

Donna, she's been hearing me talk about it for years, and I'm sure she knows it isn't easy.

And Jon, it's an over the counter "drug" that's pretty legal, and she actually self-medicated on this one.

Oh boy, Pat, are you sure you want to subject her to all this :)

Real estate is an incredible field adn it still is a very lucrative career. I'd highly recommend it! My son just joined us also.

OCT

Welllll, there is a bit of a steep learning curve and you do need to be well-capitalized until you build the business - but it is a great business - just for a smaller-than-generally-realized group of agents. A lot of friends in the business will also be a saving grace!

My 3rd mid life crises led me to real estate. lol A journalist with a real estate license? Could there be a blog in the making?

Pat, I started my real estate career the summer of 2001. My first sale (accepted offer) was on 9/7/01, the Friday before 9/11. Fall of 2001 was very depressing, it seemed like nobody would ever buy in Manhattan again. My buyer didn't back out and 2002 turned out to be a great year.

Hey Pat,

First, I wonder how iTexas got THAT listing in the photo...way to go, guys ;). I am one of the ones on "the learning curve" and can support you in saying that with the increased competition of a sluggish market, you must learn some good work habits and ethics. I hope this entire situation works out for your friend.

Pat, I agree with you that if your friend ended up getting a start in a less than desirable market that she'd have only one way to go! Have a great weekend.

Most of us in the biz are serial careerists--life is too short to stay in one cubicle for the duration.

OCT

Pat, In North Carolina, which is now a Broker only state, getting a RE license is no cake walk. Quite a large percentage flunk either RE School, or the State test. Maybe DC has an easier go, but in NC, real estate to fall back on, is not a given for sure.

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