I'm planning to become a real estate agent after high school, and I'm considering moving to San Diego. I know home prices are very expensive there, and that's bad for buyers, but what does it mean for agents? Does it slow the market down? Any insight you have from this perspective would be great! Thanks!
It all depends on the economy. I purchased my run of the mill 4 bedroom 2 bath home in San Diego for $450,000 six years ago and felt lucky to get it. Today I would be lucky to get $300,000 for the same house. The story is the same all over the U.S., with many people losing homes to foreclosure. I am not a real estate agent, but a neighbor is. Things have definitely slowed down as credit gets tighter (it is tough to get a loan these days) and commissions are not as high since prices are down. Real estate is very cyclical- when it's good, it's good. When it's not, it's not. These days things are not so good, but the market will come back eventually. Real estate agents are currently competing for a very limited number of qualified buyers. You might have to wait a while between sales, which may be tough to do in a high cost area like San Diego.
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