Looking to the Future

Brokers and sales agent’s income levels are inherently tied to the volatility of the real estate markets. In slow markets, an agent may have to work twice as hard to make the same income they made when the market was good. This precedence will hold true in the coming years. As the economy slows, and financing dries up for buyers there will be less and less transactions generating commissions for agents. Also, technological advances in market research have greatly increased the level of sophistication and training required to be a successful broker or agent. In order to attract clients, real estate agents will have to be able to provide a greater level of in-depth market research and a higher level of financial analysis on properties. This will be especially true in non-residential sales, where agents will be asked to effectively negotiate complicated deals. Even in weak markets, real estate will continue to be bought and sold, and the services provided by brokers and agents will be required. Sales and brokerage will continue to be a good point of entry into the real estate industry, but only the agents with the necessary financial and technological skills, along with superior customer service, will be truly successful in the ever competitive market of buying and selling real estate.