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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  December 13, 2007  |   Market Realities Drive Practitioners to New Specialties
The weak housing market has pushed some property sales associates out of the industry, with the NATIONAL ASSOCIATION OF REALTORS® reporting a 0.51 percent decline in membership to 1.36 million to 1.37 million during the year-over-year period ended in October; larger drops in membership were recorded in some states, including a 7.7-percent decrease in Florida.

While some real estate practitioners change careers, others are retaining their licenses, moonlighting as waitresses and car salesman, and waiting for the market to recover. Those still in the business are altering their marketing strategies, focusing on building relationships with past clients, reducing costs where they can, and turning their attention to new niche markets.

The housing slump and mortgage crisis have made it difficult for some home owners to hold onto their properties, and practitioners increasingly are handling short-sales and unloading bank-owned properties. Some are working with foreclosure investors, and others are assisting builders with new-home sales.

Gainesville, Fla.-based practitioner John Willis of Watson Realty Corp. acknowledges a glut of homes on the market, but he says that business is booming. Watson handles vacant land sales and helps out-of-state and international buyers locate homes for children in college, among other deals.

Source: Inman News, Glenn Roberts, Jr. (12/12/07)

© Copyright 2006 Information Inc.

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