Real estate agent: The job can be a killer

To those not in the industry,
real estate agents

may appear to have easy jobs. They ride around showing fabulous
houses, work a flexible schedule and sometimes land big commission
checks.

But the reality is that real estate agents have a much harder
job than we can imagine. Uncertainty about their income, a lack of
benefits, a decline in housing values and the risks associated with
meeting strangers in vacant homes can make real estate a stressful
and dangerous occupation.

High stress environment

For starters, working strictly on commissions is stressful
enough. Paul Wyman, owner of the Wyman Group real estate firm in
Howard County, Ind., and a regional vice president of the National
Association of Realtors, says agents don?t have a ?guaranteed
paycheck? every Friday. And most don?t earn a dime until a sale
closes. There can be a lot of money riding on each transaction, he
says.

?You end up counting on a deal and if it falls apart for any
reason, it can cause a lot of stress for the family,? says
Wyman.

Brad Knapp, senior vice president of Henkle Scheuler Realtors in
Lebanon, Ohio, says whether they?re working independently or for a
large firm, agents often act as their own small business. While
that can have some perks, it often has downsides like a lack of
health insurance, sick time or paid vacation. For most agents, a
lot is riding on every sale, he says.

The job is so stressful, in fact, that
Business Insider reported

that ?real estate sellers are 1.38 times more likely to commit
suicide than average.?

Home prices vs. commissions

Furthermore, the average median income for
Realtors

has trended downward in recent years, falling from $52,200 in 2002
to $34,100 in 2010, according to the National Association of
Realtors. However, the NAR did report that the median income for
Realtors increased $800 from 2010 to 2011.

Agent commissions vary by region and firm, but typically average
5 percent to 6 percent nationwide, according to the NAR. A typical
agent may only sell a half dozen properties per year.

?I don?t think the general public appreciates the fact that real
estate agents will show so many homes and do so much work but don?t
get paid until they?re at the closing table,? says Knapp.

Stresses exacerbated in down housing market

Agents have been hit especially hard by the recent housing
downturn. Since commissions are based on a percentage of the sales
price, commissions decline when home prices decline. According to
the latest numbers from the
SP/Case-Shiller Home Price Indices

, home prices have fallen approximately 34 percent from their 2006
peak.

The rapidly changing real estate market can also create a
disconnect between some sellers, homebuyers and agents, says Wyman.
Many sellers have unrealistically high expectations when it comes
to the price they can realistically get for their homes. Wyman says
agents today have to spend more time ?educating? sellers on the
real value of their home.

?There are sellers out there that think their house is the
exception and buyers have been conditioned to give lowball offers.
It?s a challenging market and can cause real stress,? says
Wyman.

Furthermore, Wyman says because many agents have their own real
estate investments, either in flips or rental properties, the
downturn has been especially hard.

In past years, real estate agents have entered and exited the
profession as the housing market fluctuates. But in the past few
years, Wyman says the housing market has fallen faster than agents
are leaving the industry.

?There has been increased competition because there are just
more Realtors and fewer sales,? says Wyman.

Job can have dangers

In addition to purely being a stressful occupation, working in
real estate can also be quite dangerous. Agents must often meet
strangers alone in vacant houses and show properties in all types
of neighborhoods.

Criminals have posed as would-be buyers to lure unsuspecting
agents into vacant homes and have committed theft, robbery, assault
and rape. Some have even been murdered. According to the Bureau of
Labor Statistics, 63 people employed in real-estate-related fields
(this includes property management and maintenance personnel) died
on the job in 2010. Of those deaths, 23 were murders.

Safety has become such an important issue in recent years that
the NAR has outlined tips and guides to help Realtors stay safe.
The 2011 Realtor Safety Report examined a year?s worth of attacks
on Realtors, and the REALTOR Safety program features a five-step
plan for Realtors to stay safe while conducting open houses.

While the chances of being victimized are still relatively small,
it can add an element of stress every time an agent meets with a
new potential buyer.

?You have to constantly be aware of the potential for danger.
There?s an added element of stress and potential danger when they
get a call to meet someone at a vacant house in a questionable
neighborhood,? says Knapp.

Source: http://nationalrealtynews.com/?p=16

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