I recently read that the number of new applicants for real estate licensing is moving higher in some states. Interesting, as it's a pretty challenging time to be in this or the mortgage business right now. Up in New York state, there's been a 23% increase in licensed agents and brokers. One theory is that there are a great many more unemployed people out there who are now looking for a new career. It's probably true, but they're in for a rough go just starting out in today's market.
The same article at the link tells us that applications for hairstyling, cosmetology and manicurist licenses are down 45%. Fewer people seem to be attending to their appearance with professionals, likely taking the do-it-yourself approach. Interesting, because there is also a mention of more FSBO sellers in real estate, and the growing trend to sell without a real estate professional. This begs the question as to who is better at pegging the future of their business, a manicurist or a real estate agent. Maybe they're both right, and there will be a lot more home buying by people having bad hair days.
But, however the situation develops, there seems to be a greater desire to protect what we have. The statistics in the same article show a 54% increase in the number of security guards. Could it be a fear of criminal activity on the part of unkempt people with poor manicures and bad hair? Or, maybe we need more guards to patrol neighborhoods full of empty foreclosed properties.
Oh well, be on the lookout for more competition in the real estate brokerage business, and maybe your marketing can take on a new focus ... "The best hair and nails in YourTown real estate!"
I do enjoy reading your commentary. You are obviously an expert in your field. Can you tell the recent changes regarding referrals in the international community and/or where I can research this topic?
I understand that international real estate law has changed to allow legitimate referrals on an international level.
Thanks for your time,
Frank
Franko,
Thanks for the comment. I don’t have any current information on international referrals. I tend to have a counter-industry opinion of the practice anyway, as evidenced by this article about the practice of real estate referrals.
While I can see that an international referral could hold more value and take more research to choose the right recipient, if compensation levels are 20% to 30%, it’s simply not even close to a value for the service delivered.
Thanks again,
Jim