MSN Predicts the Number of Realtors will Decline in 2008?

MSN posted an article today showing real estate agents are likely to suffer job losses in 2008.  The article also discussed other professions that are related to real estate which also should see job losses but realtors figured prominently in the article.  The industries and professions that were predicted to see the heaviest job losses in 2008 were

Bankers
Lenders
Realtors
Construction Companies
Home Retail Companies
Materials Manufactures

In the second tier were

Residential Title Companies
Mortgage Brokers
Insurance Carriers (focused on mortgage or home insurance)
Brokers at Investment Banks
Brokers at Securities Brokerages
Home-Improvement Stores
Furniture Retailers
Architects
Engineers

On the positive side healthcare professionals are expected to see gains because regardless of the economy there are more and more baby boomers.  Their also could be positive growth for technology professionals. 

So what factors are causing MSN to give dour predictions for the number of realtors in our profession.  First the sub prime mess has lowered the number of home sales.  This of course lowers the number of deals for realtors and title companies.   Added to that is fears the economy is headed into a recession.  Both these points are of course open to debate.   Some people feel the real estate market will start to pick of steam by 2008.  And there is some anecdotal evidence that the market has picked up steam in the beginning of 2008.  Additionally, there is debate about whether the economy will see a recession in 2008. 

Personally I think the number of realtors will decrease in 2008 one way or another even if the economy holds.  Why?  There are a large number of realtors in the profession due to the boom of the last few years.  And if the economy holds steady real estate agents might be interested in going back to their previous professions if doing so increases their earning potential.  So either way I would see the number of real estate agents decreasing.
 

• Rate this Post!

  Select Your Rating:

  • 5 Stars (Excellent!)
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Stars (Poor)

• Share this Post

  Share With A Friend:

  Your Name Your Email

  Friend's Name Friend's Email

  Optional Message

  Send

• Print
• Social Bookmarking

  Add to Bookmarks: