Interesting article in the New York Times about real estate agents and how much money they make (some of them, at least…).
I don’t think anyone will shed a tear if the housing market collapses and real estate agents have to go back to breaking a sweat to earn their commissions.
In fact, here’s a little tidbit about agents that I found disturbing:
…"Such camaraderie has not changed the general impression that the public has of real estate agents. While the National Association of Realtors cites a survey it commissioned of public perceptions showing that Realtors rank higher than lawyers, a Harris Poll last year found that real estate brokers ranked the lowest of all professions, below accountants, stockbrokers and journalists, in terms of prestige.
Such a poor image likely comes from the fact that agents earn their livings from commissions on closed deals, sometimes creating the perception that they will say or do anything to sell a house…"
Complete article: Middleman Now Rich Man in Real Estate Boom