Real Estate Professionals Looking For Increased Residual Income During A Troubled Economy
Real Estate Professionals Looking For Increased Residual Income During A Troubled Economy
A couple of years ago we saw the housing market rise to it’s highest ever where people were buying homes, condominiums and duplexes at exorbitant prices. Today with the economy in such bad shape, people are finding it hard to sell anything in the housing market making the real estate not so glamorous.
I live in Florida which is one of the highest states hit with foreclosures throughout the country. In my neighborhood alone there are numerous homes with for sale signs that have not moved in more than a year. Most people are hesitate in selling their home for many reasons, but due to the economy they are being offered less than the value their home is worth, therefore making less of a profit, if any at all.
The economy has effected major in the housing market as well such as; construction companies, electrical contractors, plumbers and retail building suppliers. But the real estate industry has really taken the hit. You can see by all the unfinished neighborhoods, special projects and empty commercial properties that this has made a huge impact throughout the industry.
Real estate agents found it difficult to stay afloat and some simply bowed out of the altogether. As a real estate , whether an associate or broker maintaining your license to do is mandatory. The fees associated in membership listings and continuing education courses can become a huge expense.
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It is also mandatory that a broker open and maintain an office stated by the (DBPR), Department of and Regulations. This can become extremely overwhelming and costly, especially if you don’t have sufficient associates or other real estate brokers to help off-set the cost. The expense in maintaining an office with utilities, insurance and marketing, are only a few expenses that make it difficult when income revenue sales are low due to a declining economic market.
Some realtor’s are turning their focus, time, and energy on rental properties or property management options. Those that can provide the skills managed to stay afloat by utilizing a different strategy. Some were even wise enough to purchase homes themselves turning them into rental properties which provides . With so many families losing their homes, more people are turning toward rentals as opposed to purchasing a home.
With the laws changing constantly to protect the general public, and the lending institutions making it more difficult for people to borrow money to purchase a home, many real estate agents decided to change altogether.
Some real estate , due to the cost of renewing their licenses, annual fees, declining sales, and the expense in promoting their has chosen to put their licenses in an inactive status until the market starts to improves. However, they must still complete their continuing education course every two-year license period to keep their license.
During the meantime, some are actively looking for ways to replace their income status, while still enjoying the flexibility of setting their own hours. Fortunately, I can help! The internet has many opportunities that offer you the same type of flexibility that allows you to set your own schedule, but very few offer the high income potential that most are actively seeking.
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