Real Estate Agent Economics!
- WestCar Properties
- Oct 31, 2022
- 1 min read
Recently, you have seen a huge influx of new agents in to the market, especially on the residential side. Let’s talk about why that is.
Just as in any other economy, there is supply and demand for a product (hopefully there is demand anyway). When demand rises, companies are trying to fulfill these demand. They release more products and increase their operations. However, when the economy contracts and demand shifts, companies begin decreasing their supply so they aren’t stuck with a large amount of inventory or products.
Over the last few years, the housing boom has essentially created an economy of residential real estate agents, who flood to the market because they think selling homes if going to be easy and fun and that there is a lot of money to be made in it. Unfortunately, we facing the contraction over the coming months, which leaves me wondering what will happen to these agents who got in because of the demand that is no longer there.
- Chase Melton
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