It was actually, to me, never easy money. Realtor’s also never took people’s equity…they paid for a service and we received payment for it, and everyone has a CHOICE to use a Realtor or not.

Smart Realtors never have their eggs in one basket…there are certain markets of the sector that never go away regardless of what the economy does: First-time buyers, relocators, DINKS having babies, etc.

Many of us have our hands in the investing and rental sides of the market.

This isn’t the first time that there has been a leveling off in the real estate industry. Nor will it be the last. Think back to the 80′s when people paid 12-15% interest on a home mortgage. Homes still sold and buyers still bought. In fact many people know that mortgage rates are still quite low and selection and motivation on the part of the seller are quite high.

What’s hapening now is that people who got into the industry thinking it was easy have paid out a lot of money with very little return. Real Estate Agents typically have a 90% turnover rate. That’s up even more with the downturn in the market. That means that although there might be less business, there is also less competition. In addition, seasoned realtors are stepping out of the business (retiring).

Real Estate agents are almost entirely independant contractors. We only get a paycheck when we sell a house. It’s never an easy business when you have no idea where or when your next paycheck is coming. We get no benefits and no unemployment. That means we’re always on the look out for a way to make additional money. Often that comes in the form of investments in rental properties or services associated with the rel estate industry.

In regards to some of the other posts: Realtors are not responsible for obtaining a mortgage or home equity line. Financial information is confidential and I cannot call a mortgage broker and have them tell me what your income is are how you ntend to pay your mortgage. My role is to assist you in locating a home within the perameters that you set up.