Market realities drive practitioners to new specialties

WASHINGTON – Dec. 14, 2007 – The weak housing market has pushed some property sales associates out of the industry, with the National Association of Realtors (NAR) reporting a 0.51-percent decline in membership to 1.36 million from 1.37 million during the year-over-year period ended in October.

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 homeowners 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 2007 INFORMATION, INC. Bethesda, MD (301) 215-4688
 

Questions, comments or suggestions on this article? Have a news tip? Send a letter to the editor to: Newseditor@floridarealtors.org.