Abandon Ship?
More than 2.6 million Americans have real estate licenses. While the current real estate market may have many of those agents rethinking their career choices, others will tell you that the perks still make it a great job. Flexible hours, commission-based income and the opportunity to be your own boss remain attractive to many.
Unfortunately, the turn in the market and the sheer number of realtors makes the real estate market a fiercely competitive field right now. Many predict that the recent interest rate hikes and a softening market will cause an exodus in the industry by those who jumped on the bandwagon when the “boom” made it a lucrative business endeavor. Actual numbers as to how many will leave the industry are unknown, but will probably have a lot to do with how long the current down turn will last.