There is Big Money in Real Estate

Aug. 25, 2015

Dear Cathy,

There is big money in real estate.  I am thinking about becoming involved in this industry.  What is your advice?  Real Estate Bound, Georgia

Dear Real Estate Bound:

Sure there is big money in real estate -- but don’t forget during the 2007-2008 financial crash, many realtors were at fault for tricking people into buying homes that they could not afford and other unethical practices.

However, there are many positions in this industry so you need to find the positions that you can be happy in.  Just remember like the car industry, many in this industry use sleazy practices such as:

-Buyer’s agent does not show for-sale-by-owner homes.

-Listing agent tells buyer that there are other buyers interested or other offers pending on the property when there are not. 

-Agent refers clients to other agents without knowledge of the quality of service or value that agent offers. 

So do your homework before getting into this industry.  Are you getting into the industry simply because you can make money?  Is money that important to you?  Remember, if you are not passionate about something, then you should not get involved.  Money is not everything.  Eventually you will have to look at yourself in the mirror.