These factors all lead to one thing - a higher need for real estate agents to help the buying and selling of all of these properties.
So the logical choice for these people is to buy a house rather than continuing to rent. Since prices on homes are falling, more and more people are able to afford a home for the same amount they are currently paying in rent. And since there is no shortage of properties to buy, these people had no problem finding a suitable home for a good price.Īnd another result of the rise in available properties is that more and more people are becoming first-time homeowners. They would rather sell their home and buy a comparable home for a much lower price, and take the loss so that they can improve their cash flow situation by having a lower mortgage payment each month. The rise in the number of homeowners who are underwater on their mortgages has increased so much that a very large number of them have decided that they cannot afford to stay in their homes. This is because there are so many more properties on the market now than there were before the bubble burst. And getting quality real estate leads is one of the keys to making this a reality for real estate professionals.
But the drop in commissions can be more than offset by the amount of properties that can be sold. Because real estate prices have dropped quite a bit, the potential commissions that real estate agents and brokers could earn have also dropped.
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