Industry News

Realtors, don’t worry, sell real estate

Opinion: Outlook sunny, despite competition, cut-rate commissions, higher costs

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The United States now has 972,000 Realtors. Commission percentages are under pressure from competition, price-cutting and discount brokerage. Costs are on the rise, due in part to the lure of Internet marketing and advertising. From airplane altitude, the future of today's real estate salesperson looks worrisome indeed. But should the individual Realtor on the ground be worried? Perhaps not. Take an Inman News survey on whether the future is worrisome for Realtors. Consider the story of one Brad Slabaugh, a Realtor with Prudential California Realty in Livermore, Calif., who obtained his real estate license nearly two years ago after a 13-year career as a paint and wallpaper contractor. His first deal, a $320,000 house, was under contract in just two weeks from a floor call. Slabaugh intended to join his mother, who had been a Realtor for 28 years, in the business, but she became ill and soon died. His inheritance included a couple of pending deals and a private front-window off...