Real Estate Career, overrated? Not!

By John Mangas, real estate broker, Toledo, Ohio

The experts at CNBC* posted a story to their website “12 Most Overrated jobs” on November 10^th.  

            I read the story and was surprised to see that among their top 12 list was being a Real Estate Agent. They reference CareerCast.com who describes being a Realtor as overrated “due to the decrease in activity since the housing crisis began.”

            Quiet honestly, I take great offense to their assertion which tells me that they have a fundamental lack of understanding when it comes to our industry. The need and opportunity for the real estate professional has never been greater, assuming that the Realtor has changed with the times.

            There is a learning curve that successful agents in today’s market must make. Distressed property sales are a large part of the marketplace and require skill that didn’t exist 5 years ago. Short sales, bank owned properties and HUD sales represent about 1/3 of our sales in Metro Toledo and track through to our own numbers at RE/MAX Preferred.

           

            Specialty buyer options like 203K loans, OFHA financing and rural loan programs plus the investor and rental markets also represent opportunities for Realtors. Many real estate professionals did not historically embrace these market segments, but in today’s world, they are very important to the overall business mix.

            Realtors play a more important role in the home buying and selling process than ever. In fact, what I am seeing is that while there are fewer agents licensed today than 5 years ago, our agents are closing more sales. The agents at RE/MAX Preferred in 2010 based on the REALTrends reports, ranked #31 nationally for per agent production which translated to just over 21 closing sides per associate.

There is more opportunity than ever for Agents who understand the demographics of our industry. NAR research tells us that the average Realtor is about 20 years older than the average buyer. That is a generational difference that translates well for agents who understand how to blend technology, relationship building and on line marketing opportunities to more effectively reach today’s buyers.

            I saw a presentation at the RE/MAX convention and the presenter asked the question, “are you learning as fast as the world is changing?” That really goes to the level of success that any Realtor can expect to enjoy. The learning curve that comes with changing marketplaces translates well to creating security and even growth for progressive agents and brokers.

            My final point is very simple. As Realtors, we have the chance to succeed wildly or fail miserably. The ability to set our own schedules, exert the level of effort and creativity we choose to while building a successful practice can be a double edge sword. We are all human beings, capable of extra ordinary things and at times, guilty of poor time management skills. What I have observed is that the most successful Realtors schedule everything and manage to their schedule depending heavily on the services offered to them by their office or company. They come ready to work and expect success.

            Yes, the housing market has changed, but with change there is opportunity. Finding the opportunity in today’s market is what our jobs are, and the most successful Realtors are very good at seizing this opportunity. This is a terrific time to look into becoming a Realtor and I encourage you to check out a special web site created for this, www.JoinReMaxPreferred.net .

           

John Mangas is a Broker and Partner in RE/MAX Preferred in Toledo, Ohio which has 3 offices (Maumee, Toledo & Oregon Ohio) and approximately 85 associates.