Nashville’s NewsChannel 5 WTVF-TV (CBS) features Crye-Leike, REALTORS in its report on the drop in people taking the state exam to become licensed Realtors.
NASHVILLE, Tenn.- Selling real estate conjures up images of fancy cars, lots of money, and short work hours. Of course, that’s not always a reality, especially during this slow real estate market. Across the mid-state, a lot of people are re-thinking a real estate career.
Some people are leaving the business. Others are becoming inactive agents until things pick up. But others feel it’s the perfect time to get into a business that only pays when they sell.
“Got a closing coming up next month. Had a couple of transactions recently. Could be better, could be a lot worse,” said Pat Edwards.
Edwards graduated from real estate college three months ago. He’s one of the many real estate agents who see this as the perfect time to enter an industry where sales are slow everywhere.
“If you stay focused and positive and keep going at it, the sky’s the limit,” said Edwards.
Local real estate leaders say positive attitudes and proper training get agents like Pat through the tough times.
“It’s off right at 30 percent in Middle Tennessee. That’s not a good number, it’s a bad number.
“But it’s worse off in other markets,” said Harold Crye of Crye Leike Realtors.
Crye said the negative figures translate to a negative image of selling real estate. The number of people enrolling in local real estate colleges, like the one Pat attended, is down by 50 percent compared to May 2007.
“The people who get in, stay focused, show up every day and are hard working, they’re making more than some agents who have been around for a long time,” said Crye.
Crye said fewer active agents combined with a large inventory of property for sale can mean more business for agents who know how to close deals.
“Over 65 percent of our people are making more money this year than last year,” said Crye.
Other real estate agents said the real satisfaction in what they do comes with helping clients find the right property. Nashville’s real estate market is slowly bouncing back as summer begins.
Many local realtors believe sales will become very active again after the November elections. The sky is the limit on real estate agent earnings. Crye-Leike Realty reports its average agent with experience earns $45,000 to $50,000 per year.