In the late 90's to 2000's, the real estate industry was at its peak in sales and every person wanted a piece of the pie. Real estate schools in some areas had to turn away students to the competition. What brought on this rise of sales was how easy it was to obtain a real estate loan.
Creative lending allowed lenders to give a home loan to almost anyone with or without employment, but as we know today, that has backfired and now there's a rise in foreclosures. While this is awful for those homeowners who have lost their homes, those agents who have stuck it out during this transition are still successful in the industry.
As the price of homes began to fall, many agents began to see sales slow down. Because agents are commission based, many turned in or let their licenses go to find employment that brought in a regularly earned paycheck as an employee. If those agents held on just a little longer, they would have been able to cash in on sells today. As more homes have come onto the market due to foreclosures, prices have dropped drastically, causing an increase in sales. Homes that would normally range in the mid 250k to 300k, are being sold for as little as 170k-230k and investors and new home buyers are purchasing.
So, how would one become a real estate agent? You would have to attend a school and pass the school's tests/exam(s). Once the school gives you the okay, you will need to sit for the real estate exam for your state. You'll have two types of tests for locations such as Missouri where one of the test is on Missouri Real Estate Law. If you study, it's pretty easy to pass. You will need to know a few things such as when you take continuing education courses, etc.
Once you are licensed, everyone you meet is a potential customer. Market yourself with business cards, etc to everyone.
Need a break? Can 't afford the fees associated with being a real estate agent? Don't give up. Contact a holding service like RRHS.
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