Before we start with the doom and gloom let's be clear on one thing-real estate has been and always will be a solid career. By its very definition, real property is a finite resource and cannot be manufactured-supply cannot be increased-to meet increased demand. So from a macroeconomic perspective, there will always be a real estate industry, since people will always seek to own real property.
That's just great if you an economist, but if you earn your living on the front lines of real estate, the numbers tell a different story. The slump in the industry today is as bad as it's been in recent memory. The glut of available inventory has driven-and is still driving-prices down.
The subprime meltdown has created a desperately restricted credit environment where only those with impeccable credit and rock solid incomes can get a loan. These folks, on the other hand, are hesitant to buy because of the uncertainties in the economy. Worried about potentially losing their jobs-and their ability to pay-they are waiting on the sidelines for things to improve. As are the brokers, the builders, the bankers, the building suppliers, and anyone else who is trying to make a living from real estate. The question becomes, how long can you wait?
Although reluctant to throw away years of experience and training, many real estate pros are looking at other careers. This of course is a huge decision with important, long-term ramifications, right up there with making the biggest investment decision of your life-buying a home. Difficult or not, when it comes down to paying the bills-indeed, buying groceries-it's a decision that needs to be made.
The fundamental problem with the real estate business today is that it is cyclical, and clearly not recession proof. This is why many real estate pros are turning to network marketing, a completely recession proof industry. A Realtor understands how to prospect and find leads-both buyers and sellers. They routinely structure complex transactions, and understand how to move a deal through the pipeline. Most importantly, they know how to close. All of these skills can be leveraged in an online marketing business.
Online marketers today are earning extraordinary incomes-from the comfort of their homes-as people everywhere turn to the internet. A global marketplace of over a billion people uses the internet for communication, research, education, shopping and entertainment. Find a hungry market for a product or service to be sold online, and you create perpetual financial security. If you are at a crossroads in your career, it's clearly time to think about working online.
Clifford Temple is a business coach and mentor based out of Portland, OR, that assists serious entrepreneurs in building a profitable online business with multiple incomes streams. For more information and to contact Clifford visit:
http://www.wealthsmartmarketing.com
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