Realtor Regrets

No Safety Net for Commission Salespeople

• 
• By Nancy Smith
• Qualicum Beach REALTOR®
• Published: Oct 23rd, 2022 at 9:16 am

No one has the crystal ball view into our financial future, as most experts in the past two years have been wrong, time and time again.  It would not be prudent to offer any specific opinion about market direction, however, the following excerpt leaves one to ponder.

October /2022

By Kira Mason, Gritty City Real Estate, Fringe Finance, Philadelphia USA

What we’re expecting to see in 2023 is a “flight to quality”; fewer transactions will be consummated, and the buyers and sellers who remain in the market are likely to be anxious and in need of an expert to help them navigate it. The experienced and the highly scrappy alone will persevere. With an oversaturated pool of real estate professionals and a housing market farting its way into oblivion like a rapidly deflating balloon, there’s no other way.

I haven’t even brushed on the many real-estate-adjacent professions that are poised to share in the pain: lenders, inspectors, brokers, title companies, wholesalers, appraisers, real estate lawyers, developers, contractors, and more. My favorite Philly home inspector recently told me that he hasn’t had this little business in 16 years. We’re talking about a massive sector of the workforce; depressed transaction volume will affect all of them, regardless of what prices do. What makes agents particularly vulnerable to these housing market shifts is the fact that if we don’t close deals, we don’t get paid… not in six months, but today. There is no security net. Those of us who make it through the next few years will need a high pain tolerance, a high skill level, and a high savings account balance.