Have you been wondering about starting a North Carolina real estate career? You’ve watched home values skyrocket, and you’ve seen houses flying off the market. But there’s also talk of the market slowing down as interest rates rise…so did you miss the boat?
Not at all. In fact, some of today’s market factors make 2023 a better time for new agents to join the NC real estate market than the past few years. Here are three compelling reasons why NOW is a good time to start a North Carolina real estate career.
Home Values Are Up
As WCNC reports, the increasing home values in North Carolina made this state the fifth fastest-growing in the country. The average North Carolina home value increased by 15.7% from September 2021 to September 2022. As of the end of 2022, the average North Carolina home was worth an estimated $329,634. And in the elite Cashiers, NC, market, the average value was up to $966,093.
Home values matter to real estate agents because agents are typically paid on commission. This means that, instead of earning a salary or hourly wage, you earn a percentage of each deal you close. The higher the sales price, the more you make. So, rising home values mean that you can make more money on fewer transactions.
Demand and Supply Are Stabilizing
Nationwide, real estate markets are cooling down. North Carolina prices may still be growing in 2023, but the growth is expected to be less than we saw in 2022. The rising home prices and increases in interest rates are deterring some buyers from entering the market.
At first glance, this sounds like a reason not to start your North Carolina real estate career now. But let’s look a little closer…
The extreme seller’s market conditions of the early 2020s actually made the job more difficult for many agents, especially new agents. While there were tons of buyers looking for homes, those buyers faced fierce competition. Navigating the multiple offers, bidding wars, and waived contingencies was a minefield for new agents. Agents had to deliver disappointing news to buyers from one rejected offer after another.
Now, with demand cooling, buyers face less competition. This means you get more straightforward deals and a better chance of delivering good news to your buyers.
Established Agents May Be Retiring
Agents who were already established pre-pandemic were well-positioned to take full advantage of the recent value explosion in recent years. Those experienced agents representing sellers made easy money. Many of those agents earned enough during the boom years to retire in 2023.
This represents a huge opportunity for new agents in North Carolina. Some of your toughest competition may be on their way out of the industry. And in many cases, retiring agents are willing to sell their client list in exchange for a cut of future commissions. That means you could potentially get a personal introduction to warm leads with no upfront expense. You simply need to network with other agents to learn about potential retirement plans and reach out to those agents to make a deal.
Are You Ready to Start a North Carolina Real Estate Career?
Your North Carolina real estate career starts with a real estate license. And that license starts with a real estate course. The course can be completed online around your schedule from any Internet-connected device. Cozy up at home with your laptop or learn on the go from your phone. In as little as a few weeks, you could be ready to complete your course and schedule your North Carolina real estate exam. And then, you’ll be ready to launch your North Carolina real estate career.
Now is a great time to get into real estate in NC. Are you ready to take advantage of today’s market conditions? Enroll in your real estate course now.