Several months ago CareerBuilder.com posted a pessimistic outlook for the graduating class of 2009, pointing out that only 43% of employers planned to hire recent grads, down from 56 percent in 2008 and 79 percent in 2007. The jobs market and current unemployment figures are disheartening, but this may be the best time in recent years to take a serious look at beginning a great career.
While a career in real estate sales might not be the answer, consider that the market has been down for several years, but there are growing signs of recovery.We think this recovery will be sustained.Housing affordability is at its highest level in years, mortgage rates are lows, and absorption rate (months’ supply of inventory) is dropping steadily in most areas. Here in Illinois, the Association of Realtors® report that, “Pent up demand and tax credit drive October homes sales … up 24.2% statewide and 33.3% in the Chicago region.”
Remember that not only the first time homebuyers’ tax credit of up to $8,000,but also the repeat buyers’ credit of up to $6, 500, will continue to help this recovery until at least April of 2010. It seems to us that similar to investing in the stock market when the market is down and beginning to recover, it might be a great time to invest in what can be a truly rewarding career instead of a job.
An additional consideration is the Illinois license law rewrite that has cleared the House and Senate; now headed to governor. Under the new bill, the sales license will be eliminated and all agents must hold the Broker designation. The bill gives licensees until April 30, 2012 to go through the proficiency exam or coursework requirements. People considering a career in Illinois real estate might benefit from getting the sales license while still available and taking the proficiency exam rather than the additional course work that will be required. Read IAR’s License Law talking points and Q&A to help clear up any misconceptions about the proposal.
Guest Post by Mike Cromie at Prudential Starck Realtors in Chicago, Illinois
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