Paying the price for the bubble

Part 3: Lessons learned in past downturns

This is the first recession for most members of the National Association of Realtors — and it will be the last that some of them will experience as Realtors, says Al Mayer, a real estate coach and industry veteran of 43 years.

The trade group’s membership grew about 86.2 percent from 1998 to 2007, reaching 1.34 million last year. And about two-thirds of the current members have joined the industry in the past 10 years, said Mayer.