What Happened to Our Friends in Real Estate!

By
Real Estate Appraiser with Residential Services: http://appraisalmo.com

I miss many of my friends who left real estate related professions and now must go out into the real world. The real estate world has definetely shrunk and there are less of us. I can remember regularly dealing with people that I like and had similar interests and goals to me. Now their days are consumed with working out into the new careers.

I have noticed real estate agents working at Walmart. Not any that I was acquainted with, however I did reconize a couple. These people surely had friends and contacts in the real estate world that worked with them. I hear other stories of people working in bars today that were real estate professionals last year.

I used work for a Mortgage Orginator that owned her own mortgage company. I used to receive at least one appraisal order from her per week. Today, she works full time in a nursing home and occasionally she is still able to work a real estate mortgage. It's great to hear from her, when I do. Other mortgage companies have reduced their staff significantly for overhead concerns.

Some of the people that I do still interact with regularly really are not themselves, anymore. The stress of trying to stay alive in this business that got them down and they are changed indivisuals. Most I am still able to enjoy interacting with.

I do not talk to many appraisers regulary, however I hear stories of many looking for work outside the industry. Sometimes I am able to pick up their clients, however many of these mortgage professionals were very comfortable with their past relationships in the business. The work just was not enough to keep them in the business.

I cannot wondering, as I dig my heels into this business, how many of the people were really prepared for this? Was this actually a blessing for some people who were forced to focus on other things in life? How hard should I try to keep contact with some of the people who have vanished for the industry, not to come back? Do they not communicate with their former associates because they are embarrased of the choice to get out of the business.

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Tags:
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appraisals in st louis metro area

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Ambassador
296,525
David M. Childress
Howard Hanna Real Estate Services - Akron, OH
I would love to be your RealtorĀ® in Akron Ohio!

I am wondering if a few people will be in my office after New Years. I am hearing some say the $500 dues that are due will be a problem.

Dec 21, 2008 01:39 AM #1
Rainer
23,676
James Graner
Residential Services: http://appraisalmo.com - Saint Charles, MO

Of course REALTOR dues will pust several more people right out of the business. I hope many local boards have a contigency plan for many less members and how to operate the next few years.

Dec 21, 2008 01:54 AM #2
Rainmaker
319,542
Goodbye Active Rain
Out of Real Estate

The Realtors dues plus monthly dues to the broker/owner are crazy.  It seems Realtors spend more than they make.  Broker/Owners are leveraging their Realtors to make easy money with the monthly desk fees.  Think about it.  I have heard some offices have mailboxes for over 100 Realtors.  At $500 a month, all the broker/owner has to do is market his office.  He doesn't need to list or represent the buyer.  All of his income is coming from desk fees and commission splits from people in the field running on empty.  $500/month X 100+ Realtors, I don't think it takes $50,000 a month to operate a small office in which most Realtors don't even go to anyway but to pick up mail.

Dec 21, 2008 02:05 AM #3
Ambassador
1,485,781
Jim Crawford
Crye-Leike REALTORSĀ® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

A dear friend of mine is now a grief counselor at a funeral home.  Times have changed a lot!

Dec 21, 2008 02:34 AM #4
Ambassador
3,059,416
Paul S. Henderson, REALTORĀ®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

James, In Gary Keller's book the Shift, he tells us this is a time to build your client base and market share. I too miss a lot of friends who have bailed but it isn't the first time and won't be the last...

Dec 21, 2008 05:39 AM #6
Rainer
333,636
Danny Thornton
R & D Art - Knoxville, TN
WordPress Guru

James, I would have to think that most people were not prepared for this to happen.

Dec 21, 2008 08:30 AM #7
Rainer
258,689
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

Like everyone else, the "real world" happened.  What's interesting about all this is that only 2% of people retire truely successful, regardless of chosen profession. 

So it really doesn't matter if they stay or go.  If they're not giving a good enough effort to be the top 2%, they'll be in the same boat.

Dec 21, 2008 12:21 PM #8
Rainer
23,676
James Graner
Residential Services: http://appraisalmo.com - Saint Charles, MO

Mr. Crawford,

A funeral home wow that is a major change.

Mr. Michaud,

I agree few will be sucessful in this business past making a paycheck. A principal of capitalism is that ruinous competition comes to those who begin to be successful.

 

Mr. Thornton,

I was not ready either, I was lucky enough that a prior advertising investment started paying royal dividends. I am not sure what I would be doing without it.

 

Mr. Henderson,

That is another way of making my point, thanks.

Dec 21, 2008 03:44 PM #9
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James Graner

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