Despite Market, Many Choose Real Estate Career

Despite challenges facing the real estate business, the state of New York administered more than 700 licensing exams to aspiring real estate professionals in December 2008.

“We’ve been much busier than we thought we’d be,” said Stephanie Barron, a manager at the New York Real Estate Institute, which offers licensing classes.
Although 25 percent fewer sat for the exam in December 2008 than in December 2007.

Recruiters for New York City real estate firms say that a new associate can expect to earn about $50,000 a year, but getting started can be a challenge and newcomers may take weeks to close their first deal.

“Someone coming into the biz, who is going to focus on sales from day one, should have at least a six-month nest egg, and it would probably be better to have more than that,” said Stephen Love, who directs recruiting at Ardor New York Real Estate.

Source: The New York Times, Michael M. Grynbaum (02/13/2009)

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