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May 02, 2006

The Real Estate Job Boom

Chris Palmeri

Few industries have created as much wealth in the past few years as real estate. Thousands of Americans have flocked to the business, most notably as Realtors and mortgage brokers. But Stan Ross, chairman of the University of Southern California's Lusk Center for Real Estate, notes in a new book, Inside Track to Careers in Real Estate, that real estate job seekers, whether they be recent college grads or older folks looking for a mid-career switch, need to look beyond the obvious professions. That's true especially as the nation's hot housing market cools. Ross notes that megatrends are sweeping the industry, creating all sorts of new opportunities. Real estate is no longer the exclusive stomping ground of local landlords and entrepreneurs. Pension funds, real estate investment trusts and other large institutional investors are hiring real estate professionals. Larger multi-state developers and real estate managers have some strategic advantages, he notes, such as being able to borrow not on just individual properties but across whole portfolios. They can withstand the time and expense of lengthy and complicated development projects. New environmental regulations and technologies are creating work for people with knowledge of "green building" techniques. At the same time, non-profits and other community organizations are developing housing and inner city real estate in partnerships with private firms. Real estate will continue to be a dynamic industry to work in, especially for people who think broadly about the business.

06:24 PM

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? Changes in Real Estate Jobs from Flat Fee MLS Marketing

In Business Week?? blog today, Chris Palmeri discusses the boom in real estate jobs, and also the changing nature of the real estate job market. Naturally, as the industries business models and participants change, their is likely to be a similar... [Read More]

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Chris writes:

Real estate is no longer the exclusive stomping ground of local landlords and entrepreneurs. Pension funds, real estate investment trusts and other large institutional investors are hiring real estate professionals. Larger multi-state dev... [Read More]

Tracked on May 12, 2006 02:17 AM

getting into a real estate career right now would be like getting into the .com business in 2000.

not a good idea. it's getting UGLY and we're just starting

from http://housingpanic.blogspot.com:

Ameriquest Parent to Lay Off 3,800 Workers

The parent company of Ameriquest Mortgage Co. and Town & Country Credit said Tuesday it will close 229 branch offices and lay off 3,800 employees nationwide as part of a plan to consolidate its retail mortgage lending operations.

The restructuring by Orange-based ACC Capital Holdings Corp. is designed to cut costs and help the lender stay competitive, company officials said.

Posted by: keith at May 2, 2006 09:14 PM

I have been hearing so much about this housing boom bubble and how it will burst. I will tell you one thing that I have sure noticed. A lot of people are getting thier real estate licenses. Our website The Real Estate License Professor helps future realtors realize thier career goals and I tell you we have helped a lot of these people lately. I am not sure if this will affect supply or demand having so many "middle men" selling but it sure is a sign that real estate is hot. I hope it stays that way.

Posted by: Tom at May 5, 2006 08:21 PM

Suchi say don't worry if lose job. You can fix credit and all OK.

Posted by: Suchi Yeuchie at May 6, 2006 07:45 PM

Shouldn't the timestamp on this post be May 02, 2002?

Posted by: L'Emmerdeur at May 10, 2006 05:47 PM

New Record for Real Estate Licenses in California

The California Department of Real Estate recently reported that nearly 500,000 people hold real estate licenses in California. That equates to one real estate licensee for every 52 adults.

Last year, the number of real estate licensees skyrocketed to a record of more than 476, 000. This is an increase of 14% from the previous year and a 57% increase over 5 years ago. The trend even continued climbing to 495, 000.

Commissioner Jeff Davis said that the level of interest in real estate licensure is unprecedented. He said that with the many new licensees, the DRE has also increased its consumer protection efforts.

Mabelle Sese

Posted by: Mabelle Sese - Realtor at May 30, 2006 12:21 AM

I do not think that is the case right now.. The market is almost death, especially here in Miami.

Hopefully it will be ok in next 5-6 months.

Thanks

Posted by: Tracy - Real Estate Agent at August 4, 2006 12:08 PM

I feel it is too easy to become a Realtor, and therefore every Tom, Dick and Harry get their license. Getting your license does not make one a professional nor one with expertise. It takes many, many years to know what in the world you are doing... I feel once the market slows, you will see all the mom/pop fly-by-nights out of the business, and sanity will return to the profession of Realtors. Any person purchasing a home with a novice Realtor, is crazy. It is probably the most expensive purchase one will make in a lifetime. To use someone who has no knowledge, other than passing a test, is insanity.

Posted by: sandrac at August 30, 2006 12:05 AM

Chris,

You sure did call it right back in May '06. It's almost like you had some kinda crystal ball.

Now, the market is surely a real estate bust. Lots of jobs lost in my area too.

Lane K.

Posted by: Lane K. at September 28, 2006 08:58 PM

They should have more requirements than only taking a couple week classes to become a real estate agent..

Tim

Posted by: Tim - Real Estate Agent at October 10, 2006 08:39 PM

I am studying to get my license in real estate in California; I know they are too many holding a R.E.license but, doesn't me all of them are involved in the business, I would say as a homeowner of more than one property,based on my own experience, I know more than the average reall estate salesperson that got his/her license 5 years ago. However,not everybody is the same, I understand that some people may feel that using someone that, just passed the test has no knowledge, is insanity. It might be right but, not everybody is the same, we can stereotype in this regard.

Carmen

Posted by: carmen at November 20, 2006 10:36 PM

I work with bunch of real estate agents and brokers. They all are looking for new sources to make money. The market is really bad down here in Miami...

Posted by: Tracy@Miami at January 15, 2007 02:22 PM

In Kitsap County, WA (and I'm sure probably everywhere else), the market has changed to a buyers market. Some agents will give up, but the ones willing to think outside the box will come out on top. The days of a quick sale have gone, so now we must make our listings more appealing. I feel home staging is very important and helps your listing stand out from the rest. I love interior design so I offer a free home staging consultation to my listing clients.

Posted by: Teri Allen at January 19, 2007 07:31 PM

The numbers are skewed by the fact that alot of regular folks are just getting their license so they can have access to some of the same resources as true career realtors. This makes sense along the same lines as the FSBO trend. Anybody who's ever sold a house and has half a brain, is insulted by having to fork over 4-6% of their profit to a middle man. This amounts to tens of thousands of $$. If you can cut out the middle man (as we have now done with travel agents via the internet) you can keep alot of that money to re-invest for yourself.

Realtors are nothing but used car salesmen selling houses.

Posted by: Tim D at January 21, 2007 01:19 PM

What is the market like here in Atlanta. I heard it hasnt been like this for years.

Posted by: Free Credit Repair at March 12, 2007 11:09 AM

no

Posted by: ibrahim at March 13, 2007 04:00 PM


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