Like many people with an interest in the real estate market, vested or not, I have been paying pretty close attention to what is happening to the industry both overseas and at home. I know I have already spoken of this many times, but I think it's fair to say that it's on a lot of people's minds, particularly those trying to sell or buy, and especially those who work in the industry.
As the General Manager for Century 21 Australia, I have contact with around 300 Agencies nationally, and that number of offices means thousands of employees, all part of the network. These people each have their own take on what is happening and what's going to happen in the marketplace, but the general feeling is a positive one, and I came across a news story recently that showed this to be the case in one of the hardest hit countries too.
In the USA, the real estate market has seen dramatic price drops and real estate agents in many cities have watched as sales ground to a halt. Despite this, hundreds of New Yorkers are signing up to take licensing exams and join the ranks of agents. In the last weeks of 2008, New York administered over 700 licensing exams to real estate hopefuls, and they definitely have the can-do attitude required to succeed in this business. One of those demonstrating the ambition she'll definitely need in the American property market was just 22, and I believe her quote should ring true for all of us in the industry when things are less than booming, even those of us who have been around for years:
"They say the business is cyclical. I can gain experience now, cut my teeth in this kind of market, and when there's an upswing, I can be an established agent."
That's precisely how we should all be thinking, so if your Agent isn't, I suggest you find one who is!