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EveryDayImPublishin t1_j2ttia6 wrote

It's going to be a tough year for real estate.

Con - less action this year.

Pro - If you can cut your teeth this year, you have a great chance of having a quality career.

Good luck, it's an awesome field!

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francisxavier12 OP t1_j2una6p wrote

My market is very much investment-property heavy and all the agents Iā€™ve spoken with have talked about how the ā€œbeach is insulated,ā€ but I do agree itā€™ll be a low year. Thanks for the good luck!

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Zaedus t1_j2ubfgw wrote

Why do you say less action this year?

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EveryDayImPublishin t1_j2ucddy wrote

While all areas are different, as a whole prices are down due to higher interest rates lowing motivation for a lot of sellers. The industry is contracting some this year which will force lazy agents out. This is something noticeable in how many mortgage companies are going out of business. It will of course rebound, but 2023 will be tight for a lot of markets.

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Zaedus t1_j2uquuu wrote

Thank you for reply, I have much to learn

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ebj0hnson t1_j2up5u9 wrote

Lending rates are climbing, which means itā€™s harder for people to get loans to buy property with. And sellers donā€™t want to let go because they havenā€™t really realized that their property is actually dropping in value, also they donā€™t want to sell because they want to put their money somewhere else but donā€™t want to pay the ridiculously high rates

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Zaedus t1_j2uqw5j wrote

Thank you for reply I have much to learn

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iamatwork24 t1_j2xmq2b wrote

Not trying to rain on your parade but as someone who used to sell real estate, unless you have a mentor whoā€™s an already established realtor to give you real leads, itā€™ll likely be a few years before youā€™re actually making money. It is recommended that people starting out as realtors to have 2-3 years worth of living expenses saved. Itā€™s also not a great time to become a realtor because the market has slowed down, interested rates have gone up and the market is going to crash in the next year or two. Itā€™s a great career and Iā€™m happy youā€™re realizing a dream, I just hope you have realistic expectations for it.

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francisxavier12 OP t1_j2y6zix wrote

Thanks man, I'm fortunate to have a great mentor, and the market I'm focused on is investment properties for cash buyers. Luckily I've got a lot of great connections from my current position (which I don't plan to leave immediately, btw) that are looking to scoop up properties in the area this year. But I do appreciate that advice and insight!

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iamatwork24 t1_j2y7sel wrote

Oh good, that is great to hear. Iā€™ve seen far too many people think itā€™s just going to be easy with no connections and they just get blindsided by the realities. Usually cash buyers investing in properties already have a realtor they use for everything they buy so that seems like a tough market to crack, but more power to ya. Best of luck.

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