I treat my income like we all have been told to invest. Be Diverse! My real estate income is shared with other income. About 5 years ago, my family health insurance premium increased $500 per month for insurance that I would consider sub standard. It hit me like a freight train that I needed to weigh all of my options because my health insurance became more of a monthly cost than my home mortgage . Now I share my time with my Virtual Tour company doing virtual tours and online marketing for other real estate professionals, local business owners, and doing hospitality tours for people that want to promote their industry.
I still work full time hours as a Realtor, but I consider myself part-time in the industry. It is also beneficial for me that my Real Estate Professional time works hand-in-hand with my Virtual Tour Company and both of my companies reap rewards and contacts from one another.
I predict this shift becasue of the big picture of the economy, not just the sluggish housing industry. I think that Real Estate Professionals are going to be looking for other sources of income and benefits that may have been lost or reduced. Some of the reduced benefits could be your spouses benefits from a layoff or employer cutbacks.
So when part-time Real Estate Professionls are taking a beating from others in our profession, it makes me wonder if it is all that important if you are a Full-Time Real Estate Professional or if you share your time with another income source. I think as long as your clients' needs come first, you are committed to your profession, and you love what you do, you can be successful! I am always disappointedin the agent that is quick to tell potential clients that they are Full-Time instead of how they would market their home or how they would be the best person to find them a home in their well farmed backyard.
I pulled some numbers and I have been selling more homes that some agents that have Full-Time plastered on their advertising.
It is our profession and it is our responsibility to promote it with integrity and not seek out a group of people to step on during the journey. I have found that negative comments reflect poorly the the people they are directed to as well as the person making the comments.