Another article about "the end of irrational exuberance" in the housing market. This one is more rational with less gloom and doom and more reality check. Not only for the excited home owners, but also the 250,000 new realtors wanting to cash in on the boom.
During the boom’s peak from 2002 to 2004, the National Association of Realtors (NAR) saw memberships soar 26 percent. Today, over 1.2 million Americans call themselves Realtors.
While many thought a real estate license would be an easy way to make money – most are learning the opposite. Like any commission job, there is more to sales than showing up. And even with the right sales techniques, it can take a while to buildup your sales pipeline.
The NAR reported in 2005 that those who have been in the business for two years or less had an average income of only $12,850 a year. Long-time brokers – those with at least 26 years of experience – had an average of $92,600.