Has the impact of COVID-19 on the housing market decreased?
Contracts for US property purchases have continued to decline since June following the chaotic COVID-19 boom that survived the housing market in 2020.
This is due to the fact that the limited supply (which is currently at an all-time low) cannot meet the high demand for real estate at the moment. The National Association of Realtors, for example, officially announced that its pending home sales index fell about 1.8% in July; this was a smaller decline than in June (2.0%), but nevertheless it remains significant.
The aforementioned limited supply, coupled with stimulating industrial demand (unsurprisingly), meant that US prices continued to rise, with the average property price of a newly built single-family home now exceeding $ 390,000.
The boom in the real estate sector has inadvertently led to an increase in the number of realtors in the United States, who have found the opportunity to make significant cash profits in a relatively short period of time.
While the benefits of having a real estate license are widely recognized, there are several disadvantages associated with “traditional” nonsense, such as high costs, effort and time.
However, below we will discuss whether you should invest in obtaining a real estate license in 2021, taking into account: a) the aforementioned chaotic state of the US housing market at present and b) certain industry improvements and courses for professionals who have done the procedure has become more accessible in recent years.
3 benefits of working as a real estate agent (as an investor)
If you are currently a business owner, investor, or just a freelancer interested in obtaining a real estate license, you should be aware that this profession can bring significant personal and financial benefits to those involved.
However, below we have highlighted our incomplete list of the top three benefits of being a real estate agent in 2021.
1. Additional income
While this may be somewhat obvious, it is undoubtedly one of the most significant benefits of acquiring a real estate license.
Even if (currently) you are not going to become a full-time real estate agent, getting a license proactively can ensure that you have a secondary source of high income ready to go to complement your personal lifestyle and other business. full-time high-risk ventures at the top of their careers.
It also allows you to “open up” areas of business that you probably haven’t seen before – work with many different commercial and residential real estate contracts and significantly develop your human skills.
2. New business contacts
Purchasing a real estate license can go a long way in providing you with important networking opportunities that you can then use to build a significant industry portfolio for yourself.
Making a lot of new contacts, especially with commercial banks and venture capital firms, can be of great help in the long run if you want to find a high level of capital to finance a business venture.
3. Extended access to deals.
Registering as a real estate agent will inadvertently “open the door” to a myriad of different business opportunities, some of which may not even be related to real estate.
No longer will you have to wait for your realtor to alert you of any new business opportunity or business deal, you will always remain the primary point of contact, allowing you to act faster and take advantage of more opportunities.
When considering the state of the real estate market at the moment, it is unambiguously clear that now is a great time for people to get a real estate license.
That being said, as briefly mentioned above, the process can involve quite a few opportunity costs (especially in terms of your time and capital), and therefore, people should always do their own research before making a final career decision.
We hope you enjoyed reading.