Thread: Advice to Realtors: Don't keep your day job

Even Realtors can lose faith in the housing market.

Speaking to a gathering of industry professionals Friday, longtime California real estate titan Fred C. Sands called the housing market "pathetic" and said some agents needed to start looking for other work.

"If you've been in it for five or six years and are barely making a living, you might want to think about what you were doing before and get back into it -- you can come back in a couple of years," Sands told members of the California Assn. of Realtors meeting in Universal City.

In the short term, the local real estate market "is not going to get better," Sands said.

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Are we all supposed to believe that everyone is just going to quit buying or selling a home.

I don't think so.

It is in our nature to pick up and move around from time to time. People get bored with the same enviroment. On average, the average person moves every 5-7 yrs I have heard.

Yeah, the market sux right now but it is mainly due to the mortgage business paying for their relaxed attitude of loaning out money to persons who did not deserve a loan. Too many people have had to lay out no expense to get in a home and then find out they could not afford it in the first place. Low document type loans, seller contributions have all contributed to the problem.

JMHO

Rick

I agree Rick. I am having my best year in the six years I have been doing this. I can tell the market is down some, but people are still buying here. It is definately tougher out there but the strong will survive and some of the people that should not be in the biz will exit just as it is supposed to work out here in the jungle.

Thinning the herd will affect a lot of home inspectors, appraisers, mortage people, etc too!

Overall, it does tend to cycle thru. Good ole mother nature does it all the time.

I agree that the housing market may be slow but the need for housing is not going to just stop. The market always bounces back unless you go back to J. Carter days of 25% interest. This is just a much needed adjustment. Housing prices seemed to be rising way too quickly and just about anyone could get a loan.

On another note. A realtor friend told me that of I believe 2300 realtors in our East Tennessee market, only 900 had renewed their license so far for next year. This may weed out some of the riff-raff.