In the bonanza years, when newly licensed agents could stir up a bidding war simply by listing a house, people flocked to the industry to make easy money. Now, real estate classes are half-empty and agents are looking for other work until the cycle begins again.
The number of people getting real estate licenses in 2008 fell by a third, according to state statistics, following a 17 percent decline in each of the two previous years.
“Last year it really dropped off,” said Jeff Snyder of Moorestown, co-owner of RE/MAX of New Jersey. “I think you’re going to see that trend continue.”
“People are saying, ‘Wow, I’ve got to get a real job,'” said Richard Leonard, who owns Arcadia Realtors in Roseland.
Read Lisa Fleisher’s full article “With few homes to sell, real estate agents find work elsewhere” in NJ.Com (April 12, 2009).