Search
Is Now the Time to Get into Real Estate Sales?

Is Now the Time to Get into Real Estate Sales?

Aspiring real estate salespeople tend to be a bit like investors chasing after performance: When the market is riding high, people pile on in droves, whether they’re buying stocks or taking the real estate licensing exam. Then they’re unpleasantly surprised if, just a year or two later, the market tanks and their portfolios sink or, in the case of real estate agents, the job of selling houses gets a whole lot harder.

Which raises this question: Could it actually make sense to get into real estate sales when the housing market is nearing a low, so you’re ready to ride the next up cycle? In other words, does it make sense to get into real estate at the bottom?

Existing Home Sales Seen Declining, Then Rising

To answer that question, first let’s take a look at where the US housing market stands.

Sales of existing homes, which declined from 4.34 million in 2009 to 4.19 million in 2010, rose slightly to 4.26 million in 2011, according to the National Association of Realtors.

Although the market might have bottomed out, downside risks still exist. For example, the subprime mortgage business is in crisis, after lenders made too many loans to homeowners who are now unable to make rising payments. With foreclosed properties flooding the market, the downward pressure on prices could make it difficult for real estate agents to close deals, as sellers resist offers that reflect reduced market values.

The Job Is Tougher Than It Was a Few Years Ago

Many of the nation’s real estate salespeople have entered the occupation over the past several years, so this is their first experience with a market where houses don’t necessarily sell themselves. To be sure, things were simpler for real estate agents in the heady early 2000s.

Back then, “if you were lucky enough to get listings, all you had to do was get out of the way,” says Mike Silvas, owner of Morgan Lane, an 11-office real estate brokerage in Northern California. “In a challenging market, you’ve got to have the business skills and apply them consistently.”

Esther Muller, a New York City real estate broker, also emphasizes the need for superior business skills. “I think that if you are a true entrepreneur and extremely professional, and you have a great sphere of influence and a good business background, it is a perfect time [to enter real estate sales],” she says. “The challenge in New York is that there are 66,000 agents here.”

Rocky Market Requires Greater Skill Set to Succeed

The current environment raises the bar on skills for real estate agents.

“A lot of the new people in the market don’t know how to sell in this market cycle,” says Richard Gollis, a principle with the Concord Group, a California real estate consulting firm. “This market requires a better understanding of how buyers and sellers relate, and that’s where experience comes in.”

What kind of business skills are Silvas, Muller and Gollis referring to?

  • Addressing the psychology of buyers and sellers. 
  • Negotiating. 
  • Understanding the ever-growing mix of financing options. 
  • Smoothing the inevitable bumps along the way to the closing. 
  • Closing the deal -- on the listing and on the sale.

Another approach to a challenging market is to distinguish yourself from most of your competition by specializing.

“You can develop a niche: a certain type of property or a certain kind of buyer or seller,” says Blanche Evans, editor of Realty Times and author of Bubbles, Booms and Busts. “Speaking Spanish is a great advantage in some markets. Or if you play golf, you could specialize in golf-course communities.”

Muller has the last word on what it means to start selling houses in a down market. “Entering the real estate profession is much too easy,” she says. “But it’s a very challenging profession to stay in.”

Latest Jobs

United Rentals Inc
Posted: 11/29/2014
Saint Joseph, MO, 64503
United Rentals Inc
Posted: 11/29/2014
Sioux Falls, SD, 57105
United Rentals Inc
Posted: 11/29/2014
Laplace, LA, 70068
Posted: 11/29/2014
DENVER, 80202
Pacific Mercantile Bank
Posted: 11/29/2014
Costa Mesa, CA

Want more personalized results?  Update Your Profile

 
 
 

Monster Communities

Teaching Community
Where teachers meet and learn.
ArtBistro
Create and connect.
Excelle
Networking for the career-minded woman.
Nursing Link
Where nurses call the shots.
More Monster Communities

Monster Partners

Scholarships
Scholarships, financial aid and more ways to pay for school.
Education.org
Find top campus and online degree programs.
Military.com
Military portal for the US Army, Navy, Air Force, Marine Corps and Coast Guard.
Financial Aid
Scholarships & financial aid.
Staffing for Government Jobs
Staffing and hiring solutions for federal government agency jobs.
More Monster Partners

Job Hunt Strategy

Six Ways to Make a Recruiter Hate You
If you want to blow your chances with recruiters -- and, by extension, with the companies they work for -- here are six perfect ways to do so.

Resumes & Cover Letters

Rev Up Your Resume to Relocate
Hoping to relocate? Get the ball rolling on landing the right job in the right location with these expert resume and cover letter tips.

Interviewing

100 Potential Interview Questions
Interview questions can run the gamut. You probably won't face all 100 of these, but you should still be prepared to answer at least some of them.

Salary & Benefits

10 Questions to Ask When Negotiating Salary
Most of us aren't natural negotiators, but asking these 10 questions during salary negotiations can help you get everything you deserve.

Employee Sourcing

Alt text
November Monster Employment Index Grows 13% Year-Over-Year, Tenth Consecutive Month of Positive Annual Growth.

For Seekers

Campus and Online Degrees
Advance your career and earn more with an online degree.
Free Salary Wizard
What are you worth? Find out and negotiate a better salary.
Research Careers
Get information on jobs and career paths to help guide your choices
Questions & Answers
Find answers to all your career related questions -- powered by Yahoo! Answers
Resume Distribution Service
Our distribution service puts your resume right in the hands of recruiters.
Resume Writing Services
Our experts will craft a keyword-rich resume that stands out in the crowd.
More Career Resources

For Employers

Career Ad Network
Target your job posting to more candidates on thousands of websites.
Hire Right Background Checks
Explore our background check packages to improve the quality of your hires.
Hiring Home Page
Find the best candidates for your business with Monster hiring solutions.
Job Postings
Find the right solution for your hiring needs. Starting at $99.
Power Resume Search
Monster's new search technology precisely matches people with your jobs.
Resource Center
Find staffing insights, labor trends, HR best practices and more.
Target Post
Connect with skilled, hourly and administrative candidates for only $99.

Social Media

Jobs on Twitter
Find jobs in your area and industry.
Monster Careers
Tune into our career advice and discussions tackling a wide range of topics and industries.
Monster Corporate & PR
Stay up-to-date on the latest news. Get the 'Who', 'What', 'When', and 'Why' on all things Monster related.
Monster Customer Service
Got a Monster question? We've got the answer. Whether you're a job seeker or employer, we can help you find the answers you need.
Monster for Employers
Find advice on hiring.
Follow Us
Check out our many pages and stay connected with the latest industry news, events, career advice and job openings.

Other Links

Monster Company Profiles
Explore companies and get information to guide your career decisions.
Compare Salaries
See how your pay stacks up to others in your field.
iPhone Application
Download the Monster app for iPhone and iPod touch.
Monster Job Seeker Blog
Monster Job Seeker Blog.
Monster Thinking Blog
Monster's Recruitment Trends Blog.
Jobs & Career Resources
Search Jobs:
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.11.0.15-308
eTrustLogo