Real Estate Agent and Trainer, Robert Rico, discusses when exactly the best time is to sell real estate. Do you want to see more video blogs? Subscribe here!
Before obtaining a real estate license, many people wonder whether it is a good time to become a Real Estate Agent. Is there ever a good or bad time to get involved in Real Estate?
Short answer: Anytime is a good time!
For the longer answer, and to help you decide whether now is a good time to start a real estate career, keep reading this article.
During the recession back in 2007-2008, there was a major housing crisis which affected over half of the US. The housing bubble subsequently caused prices on houses to drop, and the adjustable-rate-mortgage (ARM) interest rates went up. Many people couldn’t afford their housing payments which led them to foreclosure. The foreclosed homes were then sold for very cheap which made it affordable to buyers. Real Estate Agents took advantage of this buyer’s market and focused on getting clients who were buyers, rather than clients who were sellers.
A seller’s market (like it is right now, for instance) simply means that there isn’t as much inventory for Agents. But, the homes are easy to sell and the prices are high, which then leads to a higher commission for a Real Estate Agent.
As long as there are houses to sell and people that need to live somewhere, real estate agents will be needed, regardless of the market type.
The most important thing to focus on is whether you are ready to become a Real Estate Agent. Before making a decision – ask yourself:
- Why do I want to become a Real Estate Agent?
- Do I have a passion for Real Estate?
- Am I a people-person that wants to help clients find their dream home?
- Can I handle a flexible schedule with work after office hours and weekends?
In the real estate business, your earnings are tied to the amount of work, effort, and dedication that you put in.