Brokerages opening food banks for associates?

Real Estate Agent with Chandelle Properties

Today I read an article in Newsweek about how some brokerages are establishing food banks for their associates to keep them fed.  The article also stated that most real estate sales people are living off of the income of their spouse right now.

Though it is taking more work now to stay afloat, this article made it sound as if we were all on skid row.  This challenging time has made me learn new skills, work harder and budget better, but it has hardly sent me to a food bank.  Maybe these brokerages need to spend more time coaching and mentoring their associates so they may gain the skills needed to survive in today's market. 

For the record, unlike what the article states, there is no other income in our family other than real estate sales.

Do you feel this article is a accurate representation of our industry right now?  What are your thoughts on supporting your sales associates in this market? 


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George Wilson
Raleigh Cary Realty - Raleigh, NC
Raleigh Cary Realty 919 439 0965

It certainly is not an accurate picture of the entire country but how often does a writer try to give an accurate portrayal if it does not suit the purpose of their article.

I am like you working smarter and harder to make the same amount.

Anyway, maybe it is not a bad thing to have a couple of articles out there talking about Realtors actually struggling not out getting rich off of the working class :)

Aug 17, 2008 06:10 AM #1
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

I think there are a lot of agents struggling right now.  I know several have had to find part-time jobs -- others have lost their homes.  I don't know if the article is accurate, but I do do a lot more are suffering than what may meet the eye.

Aug 17, 2008 06:17 AM #2
Paul LeMay
Caretaker Property Services - Tulsa, OK

The article may be true within certain geographical areas, or it could just make good news copy.  I would venture younger agents with a fair size family could be suffering.  If other young families with two spouses working, are feeling the pinch given the oil situation, high utilities, high food cost, etc, etc, why would it not be unfeasible to think that some realtors are having difficulty.  Just factoring in the cost of being in real estate, market shifts, and how the real estate industry is changing. 

Aug 17, 2008 06:33 AM #3
Anna Little
Greater Atlantic Shores Properties at Atlantic Shores Cooperative - Virginia Beach, VA

I think anyone can take a look at their life and make changes,  what causes you to make those changes is different for everyone. My husband and I are blessed with 2 beautiful children.  My income has not been at it's best, but we are not at the food bank.  We did however start making a conscious effort to cook at home, not waste gas, explore our community for fun activities with the kids.  We don't need to go to a theme park when we live 10 minutes from the ocean front.  Our family is happier now than ever and eating at home is what families have done for centuries, the future leaders of our country need to learn family values at the dinner table.  Instead of crying over money you thought you would have, make changes and Don't waste the money you do have! 


Aug 17, 2008 06:38 AM #4
Brian Burke
Kenna Real Estate - Englewood, CO
Broker & Advising Expert-Denver Luxury Real Estate

We know of many that are struggling. Some have quit, found a regular job, and some have found part time jobs on top of the real estate and we know of a couple that have lost their homes. ~Rita

Aug 17, 2008 06:40 AM #5
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Erika, That article was brutal!!! I do know there are many REALTORS(R) that are going out of business right now. These are tuff times but for me personally it has forced me to get better at what I do. It took me about 6 months to adjust my business and get on track. But now that I have business is very good and I expect it to get better. No food pantry for me!!!

Aug 17, 2008 06:57 AM #6
Starstate Realty
Starstate Realty - Austin, TX

Hi Erika -  Welcome to ActiveRain. I look forward to networking with you and reading your future post. Have a great day!!!

Jan 11, 2009 03:01 PM #7
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Erika Wiggins (Henderson)

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