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Real Estate Brokers and Sales Agents Outlook Guide Options » Introduction | Working Conditions | Employment | Occupations | Training | Earnings | Outlook | Additional Sources
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Real estate agents and brokers will continue to experience moderate employment growth due to the increasing housing needs of a growing population, as well as the perception that real estate is a good investment Low interest rates should continue to stimulate sales of real estate, resulting in the need for more agents and brokers. In addition, a large number of job openings will arise each year from the need to replace workers who transfer to other occupations or leave the labor force. This occupation is relatively easy to enter and is attractive, due to the flexible working conditions, the high interest in, and knowledge of, local real estate markets that entrants often have, and the potential for high earnings. Therefore, although gaining a job as a real estate agent or broker may be relatively easy, beginning agents and brokers may face competition from well-established, more experienced agents and brokers in obtaining listings and in closing a sufficient number of sales. Well-trained, ambitious people who enjoy selling, especially those with extensive social and business connections in their communities, should have the best chance for success.
Employment of real estate brokers and sales agents often is sensitive to swings in the economy, especially interest rates. During periods of declining economic activity and increasing interest rates, the volume of sales and the resulting demand for sales workers falls. As a result, the earnings of agents and brokers decline, and many work fewer hours or leave the occupation altogether.
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