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17 years ago

Amazing they still think
Amazing they still think they can make money. My husband and I bought a house in 1972 for 6 or 7 times the annual rent. My next dwelling I sold in 1996 for 11 times the annual rent. Too bad I missed the irrational exuberance, but that’s the way it goes. Just now I have bought and “flipped” a house in Maine, selling it for about 20 times the annual rent. (Proving Rich’s point that there are still optimists out there, e.g., my buyer.) No more homeownership for me; going back to Calif but will pay an annual rent that is perhaps 1/25 or 1/30 of asking price.
Thanks to all of you whose bearishness has made me feel less isolated during these past six months. Mimi Gerstell

17 years ago

Getting a sales or brokers
Getting a sales or brokers license is not a 1 week exercise. Many of the licenses granted in the last 12 months were the culmination of processes that began a few years ago – particularly brokers licenses. Provisional sales licenses are granted more readily – I’m not sure if the figures you quote include provisional sales licenses. I got my sales license last year (not for work reasons – just to learn about RE from the realtors POV) and the teachers at college a year ago told me their class numbers were way down from 2004 and 2003.
There is a lag between commencing the process (which includes education, testing and experience) and then ultimately getting the license.

17 years ago

That’s interesting about the
That’s interesting about the lag time to getting the license. And it makes sense.

I’ve had 2 friends get their license simply so they could do their own paperwork on their transactions, and pay less fees.