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?
Want to know what happened in the New York City real estate market last year? Now that 2018 is behind us, it’s a great opportunity to look back and see how the market changed and whether those trends will continue into 2019.
As a real estate agent, you need to stay up-to-date on market changes and trends. In a city that’s as fast-paced as New York, it can be easy to miss important changes when you’re up to your neck in work. Now that you have a chance to catch up, it’s time to get a bird’s-eye view of the market you experience day in and day out.
Buyer’s Market in Manhattan
The big story of the past year in New York has been declining prices and declining sales in Manhattan. For the fourth straight quarter, sales volume and prices dropped across Manhattan. Right now, Manhattan is something of a buyer’s market – at least compared to years past. It may not sound like good news for real estate agents, but in one of the most expensive cities in the world, lower prices could mean reprieve (and renewed interest) for first-time buyers, and opportunities for real estate investors looking to capitalize on discounts.
New York City has one of the biggest, most expensive real estate markets in the United States. The opportunities are endless, from single family homes in Queens to luxury apartments in Manhattan. If it weren’t exciting enough already, with the news that Amazon HQ2 will be moving to Long Island City, real estate in the city is about to heat up even more.
Note: These requirements apply state wide.
Do you need a career change? You never know if your first (or second) choice of a career is going to be the right one. School doesn’t always prepare you for the realities of doing the job you set out for, and plenty of people make mistakes along the way. You’re better off making a career change now than getting stuck in a rut.
Sometimes the mistakes you make in your previous career choices can tell you what it is you really want from your job. If you like independence, the freedom to work around your family life or a second job, or an unlimited earning potential, real estate might be the industry for you. Working as a real estate agent is flexible and getting your real estate license in NY can open even more career opportunities.