According to NAR, the median income of realtors dropped again in 2010, down to $34,100. Since 2002, realtor incomes have dropped every single year, and it doesn’t look good for this year either, as foreclosures ramp up, and people continue to be leery about buying a new home.
So that’s the bad news, but the question for realtors is, how do you beat the trend?
Well, let me just say, down markets are the best time for you to secure your position as a leader in the market. The opportunity is now, while things are low, for you to build your brand, and make your mark in the community.
Because everyone else is sort of laying low, you now have the opportunity to scoop the available things up. It’s a fact that more millionaires are made during down times, than in times of prosperity.
So now is the time to take the risk, get out there and promote yourself, help others find what they are looking for, network with other realtors and investor clubs, and generally be “around” the market. You’ll be amazed once you grow your network of people, and generally offer things to help them, how much more successful you will be.