Vancouver’s hot housing market inspiring people to get into a career in residential real estate

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VANCOUVER (NEWS 1130) – It’s not just sellers who are looking to profit from Metro Vancouver’s red-hot housing market. The trend has spurred more people to at least consider a career as a residential realtor.

The prominent real estate program at UBC’s Sauder School of Business is getting more interest.

“There has been an increase in interest and enrolment in the real estate licensing courses in the past couple of years. Typically, the number of those enrolled fluctuates with the real estate market, following the volume of sales,” reads a statement from the program.

Meanwhile the Greater Vancouver Real Estate Board has also seen an increase in membership.

“Our number of realtors tends to go up and down with the markets. So, as there is more and more activity, certainly we get more people coming into the business,” says the board’s Dan Morrison.

“Our total membership is probably just under 13,000 and a year ago this time, we were just over 12,000.”

But he cautions it’s not a get-rich-quick scheme.

“It’s a very competitive business,” Morrison tells us.

“There is no shortage of realtors out there, which is why it’s very competitive. There are very few realtors that make a lot of money. There are a good number of realtors who make a living at it and put their kids through college and everything.”

But for all of them, there is an even bigger number that can’t make a living at it and end up leaving the business.

“I think that half the people that come into the business are gone within five years because they just can’t make it,” says Morrison.

He suggests that anyone thinking of a career in residential real estate talk to an established agent to get a better idea of how things work before committing to a career in it.

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