The New York City real estate market has long been considered one of the most desirable in America, if not the world, and for years real estate owners took for granted that New York City was always going to be a seller’s market.
That started in change in 2018. A slowing market and a glut of luxury properties in Manhattan that were planned and designed at a time when demand was much higher have led to a surplus of high-end housing and shrinking demand. According to an article in The New York Times from earlier this year, it will take as long as six years to sell the 8,000 new units in Manhattan alone if sales rates remain stable.
There has been much speculation this year about the state of California’s housing market. But while headlines predicting a cool-off in 2020 may be giving real estate investors pause, there is one segment of the industry that stands to gain just as much from a downturn as it has from the meteoric rise of housing prices in San Francisco: realtors.
Realtors are in a unique position when it comes to taking advantage of fluctuations in real estate pricing because they benefit both from seller’s and from buyer’s markets: either way, people need expert help in managing real estate transactions.
New York City — the capital of world finance, and one of the most culturally and artistically dynamic cities in the world, no market is quite as desirable as this one when it comes to building a career as a realtor.
But what does it take to make a career in a competitive industry in one of the most competitive cities in the world? How can you make sure that your dream of becoming a real estate agent in New York City will lead to success rather than failure?
Over the past few months, it has become commonplace for media outlets covering real estate in California to issue dire warnings about an upcoming collapse. After years of rising house prices, net migration, and growth in the San Francisco Bay Area, San Jose, San Diego, and Los Angeles areas, many experts have started to issue warnings that the trend cannot hold.
But while these predictions have been issued with relative frequency over the past year, the much-hyped slowdown has yet to show real signs of taking hold. This is probably due to the fact that, despite rising prices, California remains an incredibly desirable place to live and work.
There was a time when Texas was synonymous with wide-open ranges, natural beauty, oil wealth and a hardscrabble can-do attitude. But while the Lone Star State still maintains its proud traditions and unique culture, the average Texan in 2019 is far more likely to be an upwardly mobile suburbanite than a cowboy or roughneck, and booming hubs like Austin are putting Texas on the map as America’s next epicenter of tech development.
Real estate is an incredible opportunity for anyone who wants to make a career change in a short period of time. It’s a career that’s perfect for anyone who has a passion for properties and houses, and anyone who wants a career helping people find their dream homes.
Working as a real estate agent is a demanding career, but also a rewarding one. There’s also more to it than helping people buy or sell single-family residences. You can work in rentals, condos, luxury houses, commercial real estate, industrial real estate, and more. Plenty of real estate agents earn extra money by working as property managers, and some combine their real estate licenses with further education to work in real estate analysis or appraisal, working for developers, or managing the real estate assets of major corporations not directly in the developing industry. Some even earn their real estate licenses just to save money when they buy or sell their own houses, or to become house flippers and real estate speculators.
Your new career is waiting. Real estate is a smart move for anyone who’s unsatisfied with their professional path and looking for a change. Working in real estate opens the door to independence and puts you in control of your earning potential. There aren’t many career opportunities where you can earn a great living with such low barriers to entry.
What’s the real estate market like in the biggest state in the U.S.? It’s not all big lots and ranch estates, though you can find plenty of those in the Lone Star State – you can even find towns and cities that allow residents to keep horses on properties with enough acreage. Texas may be known for having plenty of open space, but its major metropolitan areas are growing and densifying quickly.
The Texas economy and population are booming while real estate prices appreciate at some of the fastest rates in the nation. There’s room to grow for real estate agents in Texas as cities expand and opportunities arise across the state.
Real estate in New York state is a dynamic, rewarding industry to get into. Real estate can be a reliable source of income or it can be the start of your fortune. It depends on what your goals are and how much you’re willing to put into your career.
Working as a real estate agent in New York can feel tough, especially in NYC. There are over 20,000 agents in New York City to compete with, and thousands more statewide. Many have more experience, bigger advertising budgets, and bigger networks. How can you differentiate yourself from the crowd and get started in real estate?
The bigger the house, the bigger the check! That’s the motto of luxury real estate agents, professionals who are at the top of their industry and cater to a select clientele with a lot of money. The luxury market can be very different from mid-range homes.
Below, we break down some of the biggest differences between the average home market and the luxury end of things:
1) Financing becomes less of an issue, with many luxury homes purchased without mortgages at all. In the luxury market, it can be a lot harder to convince sellers to wait for a bidder’s financing to get approved, as they will be much more eager to take an offer in cash.