Hey folks, let's talk about the big picture in real estate—how long are you planning to stay in the game? Is it a year, two, five, ten, or even twenty? Are you testing the waters with just a toe in or is this a full-blown career for you?
Many agents tend to have a myopic view, making crucial career decisions based solely on today's market conditions. Yes, sales volume is currently at a 20-year low, but assessing your entire career based on a single down year is shortsighted.
If you envision being in the business for the next 10 or 20 years, one year of reduced sales shouldn't define your career. Recessions in real estate occur every 10 to 12 years, and what follows is typically a decade-long period of rising prices and increased sales volume. It's a market reset, not the end of the road.
For those considering exiting the industry for a "real job," think about the earnings over the next decade in that new job. If you're fortunate, maybe a...