Monday, March 4, 2013
Blog Post 1: Interview
By: Alvaro Villegas
Those who work in real estate face huge risks, but at the end can obtain even greater rewards. Whether you are creating, purchasing, or creating land, we all have to deal with real estate. It is important to understand how the real estate market operates in order to make wise decisions. Jose Rosas, a real estate agent provides an insight to the real estate market.
When did you get into real estate and the reason for doing so?
“In 2003 I got into real estate because I saw there was potential of making more money then the job I had. At the time, the economy was booming. The housing market was good was projected to rise even higher”.
In your opinion, what are the challenges of being a real estate agent?
“The biggest challenge is that you work in commission. Since you wok on commission, changes in the economy have a direct impact on your success. If there is no real estate available and have no real estate to show your clients, then you earn no income. You simply can’t control the economy. Every month is different for the reason that you solely work on commission, which makes it difficult to brace yourself to any changes. It’s a challenge because you don’t work for a company that guarantees a paycheck. Therefore you work for yourself and forced to do lots of research”.
Around 2007 when the house market began to collapse, what did real estate agents do to survive the recession?
“The ones that did get through and did not quit were working on distressed properties. They worked on trying to get homes from banks that were being foreclosed”.
Would you say that the house market is rising? And if so, is it at a steady rate or too high.
“Yes, all markets are different but in my market area it is rising too fast. I do benefit from a market that rises rapidly, I do make more money, but overall it is bad for the economy. A rising market causes house prices to rise and makes it that much difficult for new buyers to buy a home”.
What would you recommend to someone that is trying to get into real estate?
“Like everything else, do your homework”.