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The Secret to Starting Part-Time Until You Can Become a Full-Time Real Estate Agent
If you’ve been wondering if you can start out as a real estate agent part-time until you can get enough business to go full time,
While they’re not entirely to blame for the lack of houses for sale, Baby Boomers are being painted as a reason for the lack of inventory, because so many of them are staying in their homes for longer than anticipated. For instance, this recent Yahoo Finance article literally says that the Boomers are in a “showdown” with Millennials, due to the fact that they’re choosing to renovate their homes and age in place.
But who can blame them when more than half of them don’t have a mortgage, and those who still do likely have a much lower rate than the current rates? Besides, it isn’t like there are a ton of homes on the market for them to buy.
According to the article, the Boomer generation makes up over one third of homeowners, and over half of them have no plans to move. Instead, many of them are choosing to spend anywhere from tens of thousands of dollars, to hundreds of thousands of dollars, renovating and updating their homes to make them more safe and comfortable as they grow older.
If you’re living in a home that’s paid off (or at least affordable), it’s comfortable, and you’re able to maintain it without struggling financially or depleting your savings, then by all means you have every right to continue living in your home! It’s not your responsibility to solve the current housing crisis caused by a lack of homes for sale.
However, you might want to consider selling if staying in your home is causing you financial strain…
Unfortunately, staying put in their current home might not be the best decision for every Baby Boomer. According to another recent Yahoo Finance article, many of them are “house poor,” and can barely afford what it costs to stay in their home, let alone other expenses.
When you’re in that position, any additional or unexpected expenses can easily make it difficult to pay your mortgage, taxes, utility bills, or general maintenance, let alone any home improvements to make your house more livable as you get older.
The article cited four main reasons Baby Boomers become “house poor,” including:
If any of those sound like your personal situation, you may want to consider selling your home soon. Not only would it help you avoid further financial strain, but it’s still a good time to capitalize on a strong real estate market — home values are still at all-time highs in many areas and price ranges.
So, if you’re already feeling financial strain, or are concerned that you’ll be in that position in the near future, here are some things you might want to consider doing:
The Takeaway:
Many Baby Boomers are planning on renovating their homes and aging in place, rather than sell their house and move to something smaller. Unfortunately, it’s not something everyone in that generation can afford to do, and trying to do so is making many of them “house poor.” Boomers who are feeling financial strain, or fear that it may become an issue in the future if they don’t sell their house, should consider selling their house now while the market is still favorable for sellers.
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If you’ve been wondering if you can start out as a real estate agent part-time until you can get enough business to go full time,
Hey there, Real Estate friend – I know Facebook can really burn your biscuits, but… Don’t throw in the towel just yet. Your business page
Let me take a stab in the dark here… You feel your company is the greatest, and everyone else should join too. Am I right?
If you’re thinking about becoming a real estate agent, you’re probably aware that you don’t make a dime until (and unless) you sell a house.
Raise your hand if you’ve at least mentally made a resolution to sell more houses in the coming year. Every year is a clean slate
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