Glenn Dorfman the COO of the Minnesota Association of Realtors told members that the field was overcrowded.
"When the number of agents chasing transactions outnumbers the available resources two things happen: the price of the service falls as people discount rates to get the business; the quality of the service delivered to the consumer is reduced. We're not telling you to quit the industry, but if you are thinking the market will spring back to the levels of the recent past, it probably won't anytime soon," and "perhaps it is time to take a minute, review your business plan and determine if real estate is where your talents are best served"
Will you be among those that decide to pack it in?
You don't have to if you alter your marketing plan and target investors. Investors typically buy several properties in a single year. Do your regular clients do that?
I don't think so.
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