Agents who rushed to get a real estate license when the the market was hot -- because it looked like an easy business to get into and sales happened faster than you could stick a for sale post in the ground -- are suffering.
I hear managers talk about the number of agents who are facing foreclosure and trying to keep their heads above water because the business isn't beating a path to their doorsteps any more.
This made me think about why are some agents relatively unfazed by the market? Why are some thriving while others are losing their homes and wondering how to put groceries in the refrigerator? What makes experienced real estate agents succeed and, furthermore, which would consumers prefer to hire? Would a buyer feel comfortable working with an agent who might not eat for a week if the deal doesn't close?
On the other hand, would a more desperate agent put more energy into marketing a listing than, say, an agent with many listings?
Photo: Adam Weintraub