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The Changing Face Of The Real Estate Professional

January 1, 2017
opportunity-knockingReal Estate is an exciting career with opportunities for income and growth that are limited only by the mindset and efforts of the practitioner.  There is much more work involved than one imagines when embarking on this career path, and it is not for everyone.  It is much like farming: seeds planted, nurtured, cared for, and in time the diligent practitioner is rewarded with the harvest in the form of closings, referrals and repeat business.
I begin each Real Estate class by asking each student what they do or did previously to earn a living and what the expectation is in this new chapter.  This helps me to know my students and how to compare and prepare them for the challenges of this profession.  Real Estate is not a job; it is a career and that is a difficult transition mentally for those who have been employees.  There is no guaranteed income or security, as most of us are independent contractors, but there is plenty of opportunity.
business_woman_sit_on_graph_400_wht_19222In the early 2000’s, many students had lost their jobs as major corporations were relocating their businesses from the Tampa Bay area to India and other overseas homes.  The average student ranged in age from the late 30’s to early 60’s during that time.  There was a period during the Great Recession where few students of any age were venturing into the Real Estate arena, although there were still opportunities for good income. There is a misperception that the real estate market dictates a licensees income.  In reality it is the licensee’s efforts that determine success, and good business practices and habits will pay off in any market.  
As the general economy recovered, and therefore the real estate market began to rebound, the classrooms got larger and people began considering real estate as a career option again, and an interesting dynamic developed.  People began considering Real Estate as a career at a much younger age. In fact, in my last licensing class more than half of the class was under 35, and many were in their 20’s. This is an interesting shift. In fact, studies show that the average prelicensing student age in the southeastern United States is now 26 years old. Just five years ago, the average student was in their mid-30s.
piggy_bank_glass_real_estate_400_wht_18463Studies on the housing market recovery have uncovered an interesting fact. The 2 factors that once were considered the key to a good living, a college education and homeownership, have become for the younger generation an anchor into poverty as the student debt is staggering, and homeownership is unattainable or unattractive to many millineals as a result. 
Many of these millenials are assessing the risks and rewards of alternatives to a degree and discovering that for a fraction of the cost, they can launch a career in Real Estate while still living at home or co-business_people_greet_400_wht_18360renting.  This allows them the freedom to pursue the knowledge and experience required without the stress and pressure of having to earn an immediate income for survival.  A good portion of my younger students have never owned a home, but are eager and ambitious and think differently that past generations. It is predicted that as the millenial generation become homeowners, they will be the largest demographic in the housing market and these young professionals are poised to serve the needs of their peers.
This offers challenges to today’s practicing Real Estate Professional that is not tech savvy and resistant to change.  The entire process is rapidly evolving, with individual licensees having their own branding, including mobile apps and modern communication styles that didn’t exist a decade ago.  Without the ability to phone_hand_angle_18645communicate and relate to the younger buyers, older more experienced practitioners are going to find themselves at a disadvantage, as today’s young buyer don’t relate to outdated communication methods and slower pace.  Remember, this generation grew up with devices in their hands and embrace 21st century innovation.  It is an interesting time in real estate and millenial practitioners and homebuyers/homesellers are poised to dominate this market.
If you ae interested in pursuing a career in Real Estate  or have questions, call Jeanne Gavish at 352-650-1029 or email at jmgavish@aol.com.
Nature Coast Real Estate School offers LIVE CLASSROOM and ONLINE INSTRUCTION for pre and post licensing classes for Sales Associates and Brokers, as well as Weekend Exam Prep Courses.  We have convenient locations in Pasco and Hernando Counties to serve the Real Estate Licensing needs of the North Tampa Bay area.
 

Nature Coast Real Estate School

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