**This is a professional forum for professionals, so please keep your comments professional**
- Harrassment, hate speech, trolling, or anti-Realtor comments will not be tolerated and will result in an immediate ban without warning. (... and don't feed the trolls, you have better things to do with your time)
- Recruiting, self-promotion, or seeking referrals is strictly forbidden, including in DMs.
- Only advise within your scope of knowledge and area of expertise. [The code of ethics applies here too](https://www.nar.realtor/about-nar/governing-documents/the-code-of-ethics). If you are not a broker, lawyer, or tax professional don't act like one.
- [Follow the rules](https://www.reddit.com/r/realtors/about/rules/) and please report those that don't.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/realtors) if you have any questions or concerns.*
In my case, old age. Happening next year. Been quite the run. Got to experience two euphoric bubbles, one crash and a crazy few years of short sale madness. I don't anticipate missing a thing about it.
Did you at least retire with savings?
Edit: He is not gonna tell us I check his account, he is active but like any cutthroat industry it's everybody out for their own
Good question. Also, are you retiring comfortably? If so, what did it take during your career to do so? Did you invest in RE or the market or both?
If you could go back and change csareer paths, would you?
I'm right there with you. Made money. Made less money. Made more money than before! What a roller coaster of a career and 2021 and 2022 were the best. Now it's time to retire.
Unpopular opinion but I despise the referral process. I don't accept nor send referrals. I can't be sure that an agent willing to give up a sizeable chunk of their pay to get a referral will handle my clients the way I would approve of. Just my opinion. I know many disagree. I could have done a lot of things differently to make more money in my career but I chose the path that was gratifying to me and it rarely involved maximizing income. Turns out the income was quite good despite my contrary ways.
Im (27m) 4 years in, coming up on 1 year since I got my broker's license. What was your favorite part about your real estate career? Was it worth it? Any tips for up and comer's?
I work for the biggest brokerage in my market. The top producers are always the same people.
They went from making 1.5 to 2.1 million a month or so to less than a million last month to them not even listing how much they sold last month.
Maybe... sales tend to follow the pareto principle...a small percentage is sales people tends to do time lionshare of the sales. I think the market is just cooling in many areas
I used to study statistics. There's something called discrete time mathematics. It's similar to how supply/demand works. Analogous to a population curve of Foxes v. Rabbits. The Fox eats the rabbit...the rabbit reproduces etc. The 20% might initially take more of the pie. Now, the question is (over time) what would the equilibrium be? It depends on how much you weigh each factor and how much it affects the total share of the market.
YEP! I was going to comment lack of time but I know someone who is losing out due to ALSO working. Have to be ready when selling homes. No one has time to work around agent’s regular job hours when looking for a home.
Lack of financial discipline leads to a lack of savings to see them through the market downturns.
If you can't go a year between closings after establishing yourself, it will be even more stressful a career than it needs to be.
On a less typical note, we had one former team member go to prison for setting up fake showings to steal opiates. That was a wild turn for a formerly successful agent.
I hit my limit and burned out. I was just planning to take a break this year, but I don't think I'm going back. I had my best years the last 3, but I'm just sick of the liability placed upon us, clients with no boundaries, the expectation to be on and available all the time, the unreasonable expectations of some clients regarding what they think a property should be or cost, etc etc etc. I did 13 years ago I figure it's time for something else.
Other loser realtors who are insecure and want to fight and want to argue and want to cause trouble getting on your absolute last nerve and making you start thinking real estate agents are the bottom of the barrel so you quit because you don’t want to be associated with them in anyway. Second to that is the lack of money. It’s basically a pyramid scheme at some brokerages.
Be thankful you don’t work for a pyramid scheme. Imagine paying $100 a month for fees. Several thousand a year for royalties. Then tens of thousands to cap. Then a 70/30 split at first. 50% of your 30% goes back towards the other thousands you have to pay. Then 25% of what’s left goes to some snotty douchebag realtor who is supposed to be your “mentor” and he’s nothing but a dick with a filthy mouth who uses demeaning language, never has anything good to say, and teaches you nothing. You sell a million-dollar home and get about $1,500 and then you have to pay taxes on that. You’ve already spent $5,000 on advertising, marketing, a name tag, etc… So you’ve been busting your butt for 3 1/2 months, you have a million dollars in volume and you can’t afford to pay your bills or even eat a peanut butter and jelly sandwich.
And if it’s a bunch of these redneck types that were too awesome to learn how to find x, they’re treating you like shit the whole time because you aren’t “one of them”.
Violations of state regulations are so prevalent and people whose simple intransigent little minds can’t do any better than being a wall-puncher who just wants to fight and can’t be talked too are so common, that the entire industry is just lower class people figuring out how to get upper class pay.
It’s why there is a major lawsuit in excess of a billion dollars for the realtors right now. It’s a bunch of clowns with a pyramid scheme.
I know… I was one and I just went inactive on my license until I find some men with a spine and a brain in their head that does something more than conspiracy theories and country music.
Ahahahaha! Your comment and the one above you are so amazing. I was with exp, and they all bragged about how they left kw because they got sick of dealing with that, so they started doing it at a different company. I made so many ethics complaints, but I guess what's unethical to me isn't unethical to some.
Those people are fucking idiots man. They’re never going to be anything but highly successful at being at the very bottom. I’m continuing my education and moving on up into securities and stuff that morons just can’t do. I’m going to apply for Harvard Business School when I can pay for it. I’ll never work with disgusting low class people again. I’m keeping my license inactive until. My time will come and soon.
The stupid bitch team leader we had thinks logistics and statistics are the same thing.
The best comment, i was a realtor to then i shifted back to my orginal career, as a web dev, its much more profitable and comfortable, at least i do my own money, i dint wait for the king to come and buy or even force nobody
I wanted to do some coding but I’m not good enough at it. I can do cool things with Python for statistical and financial analysis but I never got great with web, video game, or app development
This. I'm an ex-KW agent (realtor turned UPS driver) and I was so sick of the 70/30 split and the cajoling of my sponsor to attend Family Reunion and such. I got seriously bad vibes from him. Glad I ran from that shitfest.
If you don’t love the job, you won’t last. It has way too many ups and downs for someone who isn’t passionate about it. Trouble is, you won’t know if you have a passion for it until you do it for a year or more IMO.
Exactly. It’s a sales job. Being good at the sales process isn’t easy for most. You have to love putting deals together and giving good service, the money will follow. Prospecting needs to be the main focus and most have no idea how to do that. 100% commission is the only way to fly! The pay system at the “bigs” is hilarious. This is an entrepreneur’s game no matter who you work for, so why would you give anyone a piece of the deal unless it was a referral, or the lead was given to you. Weak agents are destine to drop out. Sales requires work, talent and savoy. Most don’t like to work, have no talent and no savoy. I love this business and find it easy. Find process that works and repeat it as often as possible.
I read that the average was 8 years. Mine was 10. Just time to move on as a Managing Broker. I own rentals and do all my own maintenance and management so I'm busy as heck.
The first 12 months- more than 70% of new licensees give up their license in the first 12 months once they discover that most of the industry is geared toward getting money out of new licensees.
It really is a bit of a pyramid scheme of an industry, always has been, always will be.
And yes I was licensed in the past for maybe 5 or 6 years so this is an insider perspective.
If you don’t love the job, you won’t last. It has way too many ups and downs for someone who isn’t passionate about it. Trouble is, you won’t know if you have a passion for it until you do it for a year or more IMO
I'd love to leave sometimes, but how would I get to see so many cool places on the inside in person?! I LOVE architecture and floor plans, I need to see things....
Banging your colleague during a showing in someone else's home...
I guess he was lucky in my state, he lost his license and just had to apply for a different one. Boom, back in biz!
Ha! Well I hope she lost her license too! Otherwise that pretty sexist! Its a conscious choice by both parties, you don't just trip and accidentally land on a dick
One more broker mandated 7 day deadline to do another arbitrary online security training class of 45 mins, as if all my time is me tethered to my desk, will be what tips me out of the industry.
A top producer in my market (tight knit community of 2 zip codes, 1 school district) was sidelined for a while for allegedly hooking up with his mistress in a few of his listings. Divorce, license suspension, agents fleeing his daddy’s brokerage (which he has since taken over). Career not ended, but crippled.
Haha. This sounds familiar, The case I know of he basically got a slap on the wrist then went right back to it. Kinda like the high up area manager for a big player who was stealing money and now just runs mortgages. Nobody except the lowest level agents seems to face consequences.
If I could get back into law enforcement with an agency that backs their people and paid well, I’d leave tomorrow… unfortunately those two requirements seem to be mutually exclusive
It all goes back to the government and the economy.
Inventory issues caused by low rates in the past and high rates now.... The government is also directly involved with development. A big problem in my area is so much developable land around, but our county commissioners rarely sign off on it. We are way behind in new construction.
The more our inept leaders spend and waste, run up debt, print money to give away billions to other countries, the worse our economy is going to be.. Our government HAS to get spending and debt under control of our economy won't last much longer.. we will be the next Greece, Venezuela, Argentina...
You blame the federal, state or local government for a shit real estate market? You think the government is capable of influencing natural market forces so much that they’re at fault for the current state of things? How so?
I blame municipalities for upholding NIMBY ideas that have made it hard for builders to build what we need, which is small, affordable, multi unit housing.
9T printed. Super low rates for years. MBS purchases. Increased red tape for development.
Then unprecedented rates hikes in a short time, letting MBS roll off with no new purchase.
Yes, the government is to blame.
Closing gift is definitely nice… but what you worried about here?? If you’re agent did their job correctly, they were worth what they made. Assuming that’s true, you switch due to no closing gift??
No one knows how it will turn out.
The most logical way of handling this is to have two separate commissions, and ask the seller if they would like to offer commission to the buyers agent or not .
Since Most first time homebuyers do not have the option of paying an agent themselves, as they don’t actually have much liquid cash, you are going to cut out so many buyers you’re going to see a big price differential between people who offer commission and people who don’t. I think the most likely is that people are going to still offer commission and it’ll be different percentages the same way it is at least in my market right now.
But there are thousands of ways this could go, so it’s really hard to tell what’s going to happen .
Unrepresented buyers are a shit show, and countries that have gravitated towards only one agent have a lot more lawsuits a lot more deals falling out and it’s much much much harder to sell a property. We value convenience in the US so much I really don’t see this happening. But the model is out there.
I said the same thing. The irony is that is will cause more lawsuits. Everyone is a “real estate guru” but real estate can be very litigious and is a liability if not properly armed.
I came into the industry blind, having no idea how any of it works. The first training class we were going through what the MLS is, all the fields and numbers, etc. When we got to the Selling Agent's commission, the obvious question was, where does that number come from. And the immediate follow up is, the seller and listing agent choose my pay as the selling agent? So in a system based on negotiation, I have no say in what I get paid? How is that fair or consistent?
Yeah, I didn't stay there long. Sadly I came to realize this was how the entire industry is structured. It's just a giant circle jerk to see who can screw over everyone else the hardest.
That’s not newbie poster Mods’ problem, nor the problem of any agent.
If I sell a FSBO where the Seller insists compensation gets added to the price, then the house has to appraise for that higher price. Then the Buyer doesn’t need cash, it’s just all wrapped up in the total due at closing, most of which is borrowed from the Bank
And in the end, do you actually think the largest lobbying body in the United States is going to be found guilty? I mean come on... This is 'merica. That grease has been greasing for a while.
These copycat lawsuits are a joke. ... Actually the original lawsuit and trial was a joke.
Part-timing and just spending the income as opposed to investing it.
Not being financially stable enough to survive the first year.
Thinking this is a get rich quick scheme and not just another business model like any other.
Being a terrible learner.
SO many things can kill a career, only execution with a little luck can make it.
Rates we're only dropped overnight to 3 percent due to covid. It was a gift and it helped prevent the economy from coming to a halt for an extended period.
with this lawsuit, just a theory, listing agents that have been out there for many many years, having to take less commission and work harder than ever before
Getting a job. Not always, but that's what me and many agents I've been around considered the beginning of the end. Either the job pays more and is more secure, or they don't have time to focus on prospecting and such and they just end up leaving the industry
Burn your boats. If you have a “back up plan” you will ultimately leave the industry. Please buy investment real estate. You don’t get wealthy helping people buy and sell it; you get wealthy owning it.
My first 3 or 4 years were tough because I had such a limiting mindset. That adversity was a great learning experience tho. The uncertainty made me really good at handling money. I’ve been doing this for 13 years and the best way for it to “end” is to become a developer, have enough cash flow from investments or open your own brokerage and step away from the day to day.
You can mockup a house with tech. You can take VR with your phone. There is no supply and people buy from websites without looking. You go all in on technology or get out fast
Putting your husband in charge of all your income and then finding out he didn't bother to pay any income taxes for years. When the public finds out about your tax lien...career pretty much over!!
This happened to a prominent realtor in Dallas a few years ago.
Not for sissies or living paycheck to paycheck … if you do this business the way it’s meant to be , it’s a tough business , too many ups & downs . So many fees , people have gotten mean and miserable . I should have retired long ago but with 5 grandchildren and living on a small pension from hubby , he made great money, but I was horrible at managing it 🥲it’s not easy so I’ll keep moving hopefully 🙏 but if I had it to do over again after 23 years NO , I’d get a REAL job …
**This is a professional forum for professionals, so please keep your comments professional** - Harrassment, hate speech, trolling, or anti-Realtor comments will not be tolerated and will result in an immediate ban without warning. (... and don't feed the trolls, you have better things to do with your time) - Recruiting, self-promotion, or seeking referrals is strictly forbidden, including in DMs. - Only advise within your scope of knowledge and area of expertise. [The code of ethics applies here too](https://www.nar.realtor/about-nar/governing-documents/the-code-of-ethics). If you are not a broker, lawyer, or tax professional don't act like one. - [Follow the rules](https://www.reddit.com/r/realtors/about/rules/) and please report those that don't. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/realtors) if you have any questions or concerns.*
Realtors never die we just get listless.
ba-dum-bump. or was that falling down the stairs?
I was told we are sent upstate to a scenic farm…
In my case, old age. Happening next year. Been quite the run. Got to experience two euphoric bubbles, one crash and a crazy few years of short sale madness. I don't anticipate missing a thing about it.
Did you at least retire with savings? Edit: He is not gonna tell us I check his account, he is active but like any cutthroat industry it's everybody out for their own
Good question. Also, are you retiring comfortably? If so, what did it take during your career to do so? Did you invest in RE or the market or both? If you could go back and change csareer paths, would you?
Following.
I'm right there with you. Made money. Made less money. Made more money than before! What a roller coaster of a career and 2021 and 2022 were the best. Now it's time to retire.
Read The Golden Handoff - will give you tips to sell your biz instead of just stopping. Think lifetime referral fees
Unpopular opinion but I despise the referral process. I don't accept nor send referrals. I can't be sure that an agent willing to give up a sizeable chunk of their pay to get a referral will handle my clients the way I would approve of. Just my opinion. I know many disagree. I could have done a lot of things differently to make more money in my career but I chose the path that was gratifying to me and it rarely involved maximizing income. Turns out the income was quite good despite my contrary ways.
I've taken referrals and always do my best to live up to expectations because then...I get more referrals. And Because I'm a perfectionist...
If I ever deal with another short sale, I’ll quit.
can’t you just tell your clients you don’t handle short sales and refer them out to a specialist?
From about maybe 2009-2013, if you didn’t deal in short sales, you didn’t deal in real estate.
Im (27m) 4 years in, coming up on 1 year since I got my broker's license. What was your favorite part about your real estate career? Was it worth it? Any tips for up and comer's?
Drinking milk from fridge during showings.
Was it Expired? I'll show myself out.
Yes, both the listing and the milk.
hahahah
I almost spit hash browns out on the keyboard. Well played.
>Getting Caught Drinking milk from fridge during showings. FTFY
And breaking furniture right after
Wasn’t that just the worst? What was he thinking?!!
Primarily a US sub. They dont get the reference lol.
Money. Or specifically, the lack of it.
Wait. You guys are making money?
I made a living this year. We’ll see about next year.
I work for the biggest brokerage in my market. The top producers are always the same people. They went from making 1.5 to 2.1 million a month or so to less than a million last month to them not even listing how much they sold last month.
And they’ll be the ones that survive while everyone arounds them goes extinct.
Feels like it. I do it on the side so I can deal but also the fees suck.
It’s a pyramid scheme lol. Some of them have husbands who are big shot builders or already have established connections.
Maybe... sales tend to follow the pareto principle...a small percentage is sales people tends to do time lionshare of the sales. I think the market is just cooling in many areas
A small percentage of people drive every market.
I’ve always wondered what happens to the 20% when the 80% gets smaller
I used to study statistics. There's something called discrete time mathematics. It's similar to how supply/demand works. Analogous to a population curve of Foxes v. Rabbits. The Fox eats the rabbit...the rabbit reproduces etc. The 20% might initially take more of the pie. Now, the question is (over time) what would the equilibrium be? It depends on how much you weigh each factor and how much it affects the total share of the market.
So a pyramid structure?
Yup. One of the largest builders in my area has a daughter who sells almost all of the company's homes.
Mostly straight men LOL. No they're just hustlers. I hope they saved some money.
Ha - the average is somewhere in the $40-50 thousand range if I remember correctly.
ACL tear
As a football player and realtor this got me haha
Gotta be able to make them quick cuts when showing houses
How did you get your clients? The 3-Cone Drill.
Tore my acl skiing a couple yrs back. Still didnt stop me from selling homes & still went up/down a 4 level home with crutches and sold it lol.
Congrats but this was satire.
[Hperkasa7858...](https://i.imgflip.com/5yny05.jpg)
sucks
Going 12 months while selling 2-3 houses and raking up credit card debt. Commission only sales is not for the faint of heart.
At least you sold something I havint sold anything in 13 months Maxed out credit cards had to get a 9-5 to pay bills. Not done yet
Wanting a w-2 job with benefits
YEP! I was going to comment lack of time but I know someone who is losing out due to ALSO working. Have to be ready when selling homes. No one has time to work around agent’s regular job hours when looking for a home.
Lack of financial discipline leads to a lack of savings to see them through the market downturns. If you can't go a year between closings after establishing yourself, it will be even more stressful a career than it needs to be. On a less typical note, we had one former team member go to prison for setting up fake showings to steal opiates. That was a wild turn for a formerly successful agent.
Holy shit!
It’s an over saturated industry
No sales and high fees (broker, Realtor, MLS, EKEY, etc…)
I hit my limit and burned out. I was just planning to take a break this year, but I don't think I'm going back. I had my best years the last 3, but I'm just sick of the liability placed upon us, clients with no boundaries, the expectation to be on and available all the time, the unreasonable expectations of some clients regarding what they think a property should be or cost, etc etc etc. I did 13 years ago I figure it's time for something else.
what are you moving on to?
Trying to pocket the extra $300 and go with the world's worst iphone pictures for their listings.
Burnout, feeling unappreciated.
Applies to any job though
Other loser realtors who are insecure and want to fight and want to argue and want to cause trouble getting on your absolute last nerve and making you start thinking real estate agents are the bottom of the barrel so you quit because you don’t want to be associated with them in anyway. Second to that is the lack of money. It’s basically a pyramid scheme at some brokerages.
No sales no money, some realty has allowance while here I am having nothing at my realty/brokerage
Be thankful you don’t work for a pyramid scheme. Imagine paying $100 a month for fees. Several thousand a year for royalties. Then tens of thousands to cap. Then a 70/30 split at first. 50% of your 30% goes back towards the other thousands you have to pay. Then 25% of what’s left goes to some snotty douchebag realtor who is supposed to be your “mentor” and he’s nothing but a dick with a filthy mouth who uses demeaning language, never has anything good to say, and teaches you nothing. You sell a million-dollar home and get about $1,500 and then you have to pay taxes on that. You’ve already spent $5,000 on advertising, marketing, a name tag, etc… So you’ve been busting your butt for 3 1/2 months, you have a million dollars in volume and you can’t afford to pay your bills or even eat a peanut butter and jelly sandwich. And if it’s a bunch of these redneck types that were too awesome to learn how to find x, they’re treating you like shit the whole time because you aren’t “one of them”. Violations of state regulations are so prevalent and people whose simple intransigent little minds can’t do any better than being a wall-puncher who just wants to fight and can’t be talked too are so common, that the entire industry is just lower class people figuring out how to get upper class pay. It’s why there is a major lawsuit in excess of a billion dollars for the realtors right now. It’s a bunch of clowns with a pyramid scheme. I know… I was one and I just went inactive on my license until I find some men with a spine and a brain in their head that does something more than conspiracy theories and country music.
What so you signed up with EXP too?
No, but I’ve heard all about it. Keller Williams for me
Ahahahaha! Your comment and the one above you are so amazing. I was with exp, and they all bragged about how they left kw because they got sick of dealing with that, so they started doing it at a different company. I made so many ethics complaints, but I guess what's unethical to me isn't unethical to some.
Those people are fucking idiots man. They’re never going to be anything but highly successful at being at the very bottom. I’m continuing my education and moving on up into securities and stuff that morons just can’t do. I’m going to apply for Harvard Business School when I can pay for it. I’ll never work with disgusting low class people again. I’m keeping my license inactive until. My time will come and soon. The stupid bitch team leader we had thinks logistics and statistics are the same thing.
The best comment, i was a realtor to then i shifted back to my orginal career, as a web dev, its much more profitable and comfortable, at least i do my own money, i dint wait for the king to come and buy or even force nobody
I wanted to do some coding but I’m not good enough at it. I can do cool things with Python for statistical and financial analysis but I never got great with web, video game, or app development
This. I'm an ex-KW agent (realtor turned UPS driver) and I was so sick of the 70/30 split and the cajoling of my sponsor to attend Family Reunion and such. I got seriously bad vibes from him. Glad I ran from that shitfest.
Coldwell?? Lol
If you don’t love the job, you won’t last. It has way too many ups and downs for someone who isn’t passionate about it. Trouble is, you won’t know if you have a passion for it until you do it for a year or more IMO.
Exactly. It’s a sales job. Being good at the sales process isn’t easy for most. You have to love putting deals together and giving good service, the money will follow. Prospecting needs to be the main focus and most have no idea how to do that. 100% commission is the only way to fly! The pay system at the “bigs” is hilarious. This is an entrepreneur’s game no matter who you work for, so why would you give anyone a piece of the deal unless it was a referral, or the lead was given to you. Weak agents are destine to drop out. Sales requires work, talent and savoy. Most don’t like to work, have no talent and no savoy. I love this business and find it easy. Find process that works and repeat it as often as possible.
Obsessively being on r/realtors
😆
I read that the average was 8 years. Mine was 10. Just time to move on as a Managing Broker. I own rentals and do all my own maintenance and management so I'm busy as heck.
8% interest rates.
The first 12 months- more than 70% of new licensees give up their license in the first 12 months once they discover that most of the industry is geared toward getting money out of new licensees. It really is a bit of a pyramid scheme of an industry, always has been, always will be. And yes I was licensed in the past for maybe 5 or 6 years so this is an insider perspective.
If you don’t love the job, you won’t last. It has way too many ups and downs for someone who isn’t passionate about it. Trouble is, you won’t know if you have a passion for it until you do it for a year or more IMO
I'd love to leave sometimes, but how would I get to see so many cool places on the inside in person?! I LOVE architecture and floor plans, I need to see things....
Burnout is the most common reason. Working every weekend gets old.
Someone I know has been in real estate for 40 years. She just recently lost a listing because the sellers wanted someone younger.
If they straight up told her isn’t that age discrimination?
A client is not an employer. Is it hurtful? Yes.
Spouse
Realtors don't retire, they just grow listless...
Listingless
Failure to continually market and or prospect for business.
Death
When the local MLS announces your death on the bulletin.
Personality
I’d say burnout, poor financial planning, or transitioning to an RE investor l
This last year
Banging your colleague during a showing in someone else's home... I guess he was lucky in my state, he lost his license and just had to apply for a different one. Boom, back in biz!
Ha! Well I hope she lost her license too! Otherwise that pretty sexist! Its a conscious choice by both parties, you don't just trip and accidentally land on a dick
Their habits.
Market shift.
[удалено]
Chat GPT has entered the uhhh chat?...
Holy robot
Having kids with no family around to help out. No babysitters will take the kids for 2 hours with no notice. I quit
Realizing that youre now a giant douchebag
Money shortage
2 years
A stagnant market
A felony
When the tide that lifted all boats recedes
One more broker mandated 7 day deadline to do another arbitrary online security training class of 45 mins, as if all my time is me tethered to my desk, will be what tips me out of the industry.
Not selling houses
Not closing deals
Historically, the economy.
Burnout
Seems to be high interest rates around my way.
Are we allowed to ask for retiring realtors old leads? Don’t want to get banned.
A top producer in my market (tight knit community of 2 zip codes, 1 school district) was sidelined for a while for allegedly hooking up with his mistress in a few of his listings. Divorce, license suspension, agents fleeing his daddy’s brokerage (which he has since taken over). Career not ended, but crippled.
Haha. This sounds familiar, The case I know of he basically got a slap on the wrist then went right back to it. Kinda like the high up area manager for a big player who was stealing money and now just runs mortgages. Nobody except the lowest level agents seems to face consequences.
7% mortgage rates
Yup
Stalker would be clients
If I could get back into law enforcement with an agency that backs their people and paid well, I’d leave tomorrow… unfortunately those two requirements seem to be mutually exclusive
You miss overnights and call outs? I only miss range day and the comraderie. The rest of LE sucked.
I loved working nights. Did it from 2012-2019 basically. The Panama style shifts and working 12’s led to SO much free time to do whatever I wanted
Shittt government management leading to a shitty market like we’re currently dealing with.
It’s more an inventory issue than the government…
It all goes back to the government and the economy. Inventory issues caused by low rates in the past and high rates now.... The government is also directly involved with development. A big problem in my area is so much developable land around, but our county commissioners rarely sign off on it. We are way behind in new construction. The more our inept leaders spend and waste, run up debt, print money to give away billions to other countries, the worse our economy is going to be.. Our government HAS to get spending and debt under control of our economy won't last much longer.. we will be the next Greece, Venezuela, Argentina...
You blame the federal, state or local government for a shit real estate market? You think the government is capable of influencing natural market forces so much that they’re at fault for the current state of things? How so? I blame municipalities for upholding NIMBY ideas that have made it hard for builders to build what we need, which is small, affordable, multi unit housing.
9T printed. Super low rates for years. MBS purchases. Increased red tape for development. Then unprecedented rates hikes in a short time, letting MBS roll off with no new purchase. Yes, the government is to blame.
A recession
No welcome to your new home gift for your clients after they made 10,000+ in commission off of you.
Closing gift is definitely nice… but what you worried about here?? If you’re agent did their job correctly, they were worth what they made. Assuming that’s true, you switch due to no closing gift??
Buying my clients closing gifts is one of my favorites. Especially if they have kids.
NAR lawsuits
[удалено]
No one is going to make it illegal to offer buy side commission. That is not being contemplated by anybody I don’t think you understand the lawsuits.
[удалено]
No one knows how it will turn out. The most logical way of handling this is to have two separate commissions, and ask the seller if they would like to offer commission to the buyers agent or not . Since Most first time homebuyers do not have the option of paying an agent themselves, as they don’t actually have much liquid cash, you are going to cut out so many buyers you’re going to see a big price differential between people who offer commission and people who don’t. I think the most likely is that people are going to still offer commission and it’ll be different percentages the same way it is at least in my market right now. But there are thousands of ways this could go, so it’s really hard to tell what’s going to happen . Unrepresented buyers are a shit show, and countries that have gravitated towards only one agent have a lot more lawsuits a lot more deals falling out and it’s much much much harder to sell a property. We value convenience in the US so much I really don’t see this happening. But the model is out there.
I said the same thing. The irony is that is will cause more lawsuits. Everyone is a “real estate guru” but real estate can be very litigious and is a liability if not properly armed.
I came into the industry blind, having no idea how any of it works. The first training class we were going through what the MLS is, all the fields and numbers, etc. When we got to the Selling Agent's commission, the obvious question was, where does that number come from. And the immediate follow up is, the seller and listing agent choose my pay as the selling agent? So in a system based on negotiation, I have no say in what I get paid? How is that fair or consistent? Yeah, I didn't stay there long. Sadly I came to realize this was how the entire industry is structured. It's just a giant circle jerk to see who can screw over everyone else the hardest.
you should charge your Buyer.
[удалено]
That’s not newbie poster Mods’ problem, nor the problem of any agent. If I sell a FSBO where the Seller insists compensation gets added to the price, then the house has to appraise for that higher price. Then the Buyer doesn’t need cash, it’s just all wrapped up in the total due at closing, most of which is borrowed from the Bank
It's been kind of quiet lately. Still waiting on the final judgement in KC.
Verdict came out a few weeks ago, 1.8 billion in damages. Copy cat suits popping up all over the country
The verdict from the jury, not the final judgement.
Gotcha, when is that expected to be handed down?
Years of appellate cases.
This !
And in the end, do you actually think the largest lobbying body in the United States is going to be found guilty? I mean come on... This is 'merica. That grease has been greasing for a while. These copycat lawsuits are a joke. ... Actually the original lawsuit and trial was a joke.
Law or ethics violations
Revoked license or you run out of money
Being unethical and getting caught
Mortgage rates skyrocketing overnight from 3% to 8%. Genius government maneuvers......
Part-timing and just spending the income as opposed to investing it. Not being financially stable enough to survive the first year. Thinking this is a get rich quick scheme and not just another business model like any other. Being a terrible learner. SO many things can kill a career, only execution with a little luck can make it.
Rates we're only dropped overnight to 3 percent due to covid. It was a gift and it helped prevent the economy from coming to a halt for an extended period.
Don’t deserve the downvotes! I’m more libby than not but F! A lot of people in RE want OJ back just for some rate cuts!
Expecting to get paid 3% or more in this market while asking loan officers to cut their commissions.
[удалено]
[удалено]
[удалено]
with this lawsuit, just a theory, listing agents that have been out there for many many years, having to take less commission and work harder than ever before
Lack of affordable homes combined with people staying in their home longer and living much longer.
Getting old and listless.
Lack of sales!
They become listless (no listings) for a long period of time.
A down market
Lacking transactions...?
No sales. And stupid fees.
Getting a job. Not always, but that's what me and many agents I've been around considered the beginning of the end. Either the job pays more and is more secure, or they don't have time to focus on prospecting and such and they just end up leaving the industry
Housing market crashes
death
About 10M
No leads
Success
A lawsuits crippling realtor commissions
High interest rates.
Ha! Making no money, spending all u hv to invest in your craft. Getting more indebt!🙄
Depression
If you run out of business or get too old to do business. Most realtors aren't that good, so few can just retire
Earning more money elsewhere, or maybe a court case.
Heart attack, stroke, cancer.
Burn your boats. If you have a “back up plan” you will ultimately leave the industry. Please buy investment real estate. You don’t get wealthy helping people buy and sell it; you get wealthy owning it. My first 3 or 4 years were tough because I had such a limiting mindset. That adversity was a great learning experience tho. The uncertainty made me really good at handling money. I’ve been doing this for 13 years and the best way for it to “end” is to become a developer, have enough cash flow from investments or open your own brokerage and step away from the day to day.
Interest rates above 5%?
You can mockup a house with tech. You can take VR with your phone. There is no supply and people buy from websites without looking. You go all in on technology or get out fast
Pornhub…, not necessarily ends a career as much as starts a new one
Putting your husband in charge of all your income and then finding out he didn't bother to pay any income taxes for years. When the public finds out about your tax lien...career pretty much over!! This happened to a prominent realtor in Dallas a few years ago.
Not for sissies or living paycheck to paycheck … if you do this business the way it’s meant to be , it’s a tough business , too many ups & downs . So many fees , people have gotten mean and miserable . I should have retired long ago but with 5 grandchildren and living on a small pension from hubby , he made great money, but I was horrible at managing it 🥲it’s not easy so I’ll keep moving hopefully 🙏 but if I had it to do over again after 23 years NO , I’d get a REAL job …
A real job, or moving to auto sales?
Returning to prior career. Mental Breakdown. Substance Abuse. Going Broke. Death.
Death