Today I went to visit my optomitrist for an eye exam. She was wondering what I was doing now since I "semi-retire" from technology. My response was that I have been doing real estate. Of course people usually then ask "Is this still a good time to be in real estate?" or "Isn't the market tough to make a living?".
Both of these questions are very common and I probably get asked about 75% of the time when I tell others that I am in real estate. It takes a lot of hard work and closed transactions to make lots of money in real estate. The National Association of Realtors did a research and found that the average realtor does about 3-4 transactions per year, while a majority of agents made 0 transactions.
Another interesting information is that out of the about 1.2 million agents, there would be only about 900,000 left after the end of January 2011. This mean that 300,000 or 25% of the current agents would leave and find jobs doing something else or do real estate on the side.
Why is this? First, this time of the year is very slow for many agents and they already are taking an early vacation. Second, the membership fees are due early January which means that if they did 0 transactions, then how would they have the money to pay the bills?
This is a great time to ask ourselves if this is still a good time to be in real estate to see how committed we are to our success for 2011 and thereafter.