Real Estate Professionals Find A Way To Thrive In This Very Difficult Market Article

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Real Estate Professionals Find A Way To Thrive In This Very Difficult Market

With the supply of homes at record highs, successful realtors and mortgage brokers seek shelter in careers where demand is approaching record-highs.

Author: David Miller

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The housing and credit market headlines over the past several months have meant nothing but bad news to real estate and mortgage industry professionals. The market has gone from sizzling to fizzling. A home that used to be able to be sold in a matter of days or weeks is now on the market for months or years and when it does sell, it is usually at a deep discount from what it could have been sold for a couple of years ago. The market is tough and getting tougher all the time.

To complicate things for real estate professionals, reduced earnings are being further eaten up by escalating gas and food prices. The final insult to injury is that retirements accounts are being greatly affected by a very volatile stock market.

So what is a real estate or mortgage professional suppose to do to get back on track? What have other real estate and mortgage professionals done to overcome the obstacles and thrive in this very difficult market? They have done their research and decided to use the skills that they used in their real estate and mortgage careers to take advantage of an extremely timely opportunity in the very complimentary financial services industry.

Why financial services? The biggest reason is the size of the opportunity available to financial professionals. There are over 78 million baby boomers entering retirement. As a matter of fact, the first of the baby boomers reached age 62 this year. Estimates of the amount of assets that are represented by this group of people are as high as $44 trillion, but I will use a more reasonable estimate of $33 trillion.

This represents the largest shift of wealth that has ever been seen in this country as baby boomers retire and move their assets from company sponsored plans (like 401(k)’s) to IRA’s. In 2000, there were 35 million Americans over the age of 65. By 2030, there will be 70 million Americans over the age of 65. That is what I call opportunity if you are a financial professional ready to advise these people on how to fulfill their retirement dreams and not outlive their money.

Another reason why a shift from real estate or mortgage professional to financial professional makes sense is that the benefits to you are very similar. You can work your own hours, build your own business and make a very respectable living (six or seven figures annually) by helping people accomplish their goals. Isn’t that what you were doing already?

The challenges that you face as a financial professional are also similar to what you are accustom to. You have to find prospects that need your services and provide a solution to meet their needs. What you have on your side is that the market is huge and growing. Finding prospects that need your services is easy once you know what to do, and you’re no stranger to prospecting for new clients.

Yahoo recently posted an article titled “These occupations will experience more growth through 2016 than any others.” Interestingly enough, 2 of the 8 listed occupations were: Personal Financial Advisor and Securities, Commodities, Financial Services Sales Agents. An occupation in financial services is rabid with opportunity and now is a perfect time to get involved.

One of the best marketing tips I’ve ever heard was that you should attract people by marketing to raise an issue, or bring to the forefront an issue that is already on everybody’s mind. With the credit crunch, housing and mortgage problems, out-of-control fuel and food prices and a stock market that is bouncing around like a kid on a sugar buzz, the only thing on everybody’s mind is money. Everybody, and especially retirees and pre-retirees, is worried about keeping what they’ve made so they can retire and/or continue to live with the same standard they are accustom to.

Real estate and mortgage professionals who are thriving have looked outside the box, compared what they like about the real estate market to what the financial services market has to offer, have seen the huge, perfect storm of opportunity that is heading the way of the financial services professional and have taken the steps necessary to be positioned to take full advantage.

About Author

Dave Miller is the co-owner of TKO Marketing & Consulting Group, LLC. (www.TKOmcg.com) TKO offers marketing and consulting solutions to investment advisors, registered reps, insurance agents, attorneys, realtors, mortgage professionals and people considering becoming one of the aforementioned. If you think a career change to the financial advisory business is something you’d be interested in, or you’re looking for ways to improve and grow your current practice, visit www.milliondollarpractice.com to learn about the opportunity.

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