Rich today, bankrupt tomorrow. That can be the story for a real estate agent if he is not wise with his earnings. It is a career that offers an income that is deeply dependent on the economy. When business is good, it can be great for the agent, but it isn’t always that way. That is because a real estate agent’s income varies with the economy.
In recent years the real estate business has been really rough in most locations. Only a person with good financial practices could survive. Construction came to a screeching halt as the banks collapsed. Existing homes sat vacant. Without money, there was nothing for agents to sell or buy. Things are looking better, so those folks who played it smart with their real estate businesses are enjoying a nice little upswing.
Construction is slowly picking up, and geographic locations that managed to hang on during the rough economy are expected to be hot markets in 2011. All property related businesses stand to profit. However, anyone who is just starting in the real estate business would do well to spend some time with an old pro who knows how to survive an economic downturn. They will likely instruct the novice to save instead of spend. They know that money in the bank is the only way to survive a sluggish economy.
New agents may also want to look into hotel real estate. As more workers become tra