I'm about to graduate in May 2010 and real estate has always been a passion of mine. I'll have a business degree with a concentration in Law and minor in Psychology but what I really want to be is a real estate broker. I know the market is HORRIBLE right now. What are the chances it will turn around by the time I graduate? Which states/cities seem to be doing okay in this financial crisis so maybe I'll look for jobs there. If not, what kind of job should I possibly look for with my major?
I've been a Realtor for a year and a half now. I came in around June 2007 right as the market plunged. My broker-in-charge has been in the business for almost 25 years. 12 years in Pittsburgh, another 12 years in Fort Lauderdale (right as the Florida market boomed!) I've asked her the same question many times. She's saying give it about 2-3 years. But, my area, Myrtle Beach, SC is a up-and-coming resort area and it's these areas because of their proximity to the beach that are last to see the price drop and the first to see the prices rise. Also, the SC real estate laws regarding listing properties and other agents not being able to advertise them is also holding SC back from being heavily developed. These factors combined with the banks, etc. that are affecting real estate here. Where do you want to get your license? LOCATION is everything! Your state's real estate laws and the ability of marketing may also affect your area's real estate market. My BIC doesn't have a crystal ball but she has the market experience and has been through the ups and the downs. But, if you reall want to be a Broker, then be one. Learn now and by the time the market picks up, you'll already know what you're doing.
