[quote=Raybyrnes]I think there is a misunderstanding of time and occupation. I’m not a realtor but I would think that they may have to work with 3 or 4 prospects to close a deal. So now they have spent 120 to 160 hours to get 4500. Additionally they have expenses aswell. Need to keep up their licenses and continuing education. Need to have insurance. I believe they also pay listing fees and have general overhead expenses.
Successful realtors do well because they have high closing ratios have low marketing costs because they get referrals and have built sales channels. Might work with a developer or a bank in the remarketing area.
If it were such a great job with such a fantastic hourly rate there would be more people doing this. What I see is a lot of people who think this is easy get in and then find out what it is really like and want out. Easier to work a day job.
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Whatever the hourly rate would be, I think many Piggs would require fewer hours of work from an REA than a client with much less experience and understanding of the market. So why pay the same as the unexperienced, undecided buyer at the same purchase price?
BTW, I agree it’s not that easy of a job. During bubble many people tried to get in, but only the best stayed.
