How to Survive a softening Market

After reading Jonathan Greenes Wanted I started thinking that a lot of Realtors will be having the same problems. When starting out in this field, it is probably advisable to have a second (or third) source of income, to get you through the hard times. Even if you have been in the business for a long time, you can still have slow times when you do not know where your next commission check is coming from. Obviously you need to set aside money to keep you going, but what happens when you are first starting out and there just isn't enough money to do that?  There are people, like Jonathan, who really seem to have the Real Estate addiction and it would be a shame to see these people lose out on what could be a very lucrative career.

What do you do? Do you have a alternative income? Does it tie in with Real Estate, or is it different.

I personally have a job inspecting homes for insurance companies. Its not big pay, but its steady and it pays my health insurance. I have also become active in Broker Price Opinions and REO's. This is actually a lot of work, but it pays my bills and when I get a "real" listing, I am still around to take it. Also, this is fast becoming a buyers market. Sooner or later the sellers will be realizing that they need to lower their prices. I think a lot of buyers are sitting back, waiting for this to happen, which will also drive the market. Some people are great at getting listings and some are great at finding the perfect home. If you are one of the latter, now is the time to educate yourself as a buyers rep.

The Active Rain site is across the country and into Canada. What are your ideas? What do you do to keep afloat during the hard times? Besides continually marketing yourself, which you still need to do.

Any suggestions?