Real estate’s a tough job but can still pay off

Published 6:44 pm Friday, March 20, 2009

LYNNWOOD — Here’s an industry that finds it difficult to recruit workers amid the recession: real estate.

Century 21 North Homes Realty, Inc., of Lynnwood, has been seeking new agents, advertising on billboard signs, said Douglas Lovitt, branch manager of the company. Beginners are welcome; they will get training.

The recruiting effort hasn’t piqued much interest, Lovitt said.

“I think it’s perception,” Lovitt said. “People are nervous about their income and obligations. When people are nervous, they don’t take a risk. To them, a commission-based job seems like a big risk.”

The housing market remains weak with home prices falling. But there’s still demand for real estate agents who are willing to learn and adopt to a new environment, Lovitt said.

“A good agent needs to be able to sit down and consult with clients,” he said.

All sorts of people got into real estate during the housing boom, said Michael Killmer, a broker associate with the company. Some people worked part-time to make extra money on the side.

“During boom times, they didn’t need to learn anything. Agents were all over,” Killmer said.

With part-timers getting out of the industry in a slow market, Killmer said, now is a good time to learn the ropes and prepare for better days ahead; the real estate market has gone up and down historically.

“There’s always something changing,” Killmer said. “Laws are constantly changing, especially in this economy, having to deal with short-selling, refinancing and foreclosures.”

Killmer, who got into the industry in 1997, said that people need to remember that they need to invest time and effort to succeed as a real estate agent.

“It’s a job,” he said, adding that he continues to take classes and mentor others.

Realtors are also helping people refinance their mortgages so that they can stay in their homes. That doesn’t generate much profit for the real estate agent, but it’s needed to stabilize the housing market, Killmer added.

Lovitt said his office has about 50 Realtors. That’s down a few people from a year ago. It’s relatively easy to become an agent; people need to take 60 hours of class to get a state license.

“To be honest, I’d like to see it harder,” he said.

One of the advantages in being an agent is that you get control over your time, Lovitt said, adding that he can take the time to a Costco on a Tuesday morning.

“Also, that’s the No. 1 reason why agents fail,” he said. “They have to give themselves structure.”

Jamie Rowse, 20, became a Realtor with Century 21 North Homes Realty, Inc., last year. She has been learning to work in a tight market.

“It’s all I know,” Rowse said. “So, it doesn’t make a difference to me. I specialize in this market.”

Rowse, a Snohomish High School graduate, said she makes enough money to live on her own in Everett.

“I like being able to run my own business,” she said. “The harder you work, the more rewards you will get,” she said.

Yoshiaki Nohara: 425-339-3029, ynohara@heraldnet.com.