“The new Zoom Dog Park is really not working out…”
Eighty-five percent of all new licensees in Arizona fail within the first two years: They fail to renew their licenses and drift back into the shadows. Cynical brokers opine that everyone has at least three transactions in him, and those brokers will milk non-salesmaniacal non-entrepreneurs for whatever deals they can cough up, before kicking them to the curb.
The funniest thing about iBuying is that the iBuyers don’t know what business the brokers are in. They think the real estate business is about real estate, when for most brokers the business is milking new licensees into bankruptcy. For a new agent to hit the glide path – more money coming in than going out, consistently – is the rarest of outcomes.
There is much to hate in the agent-milking racket – but quite a bit less at the moment. Without in-person real estate schools, I wonder if there are any new licensees…
In other news:
KOMO News: Amid protests and unrest, demand for security jobs in Washington has jumped. Irony is the hardest of mettles.
CNBC: Homebuilder confidence improves, despite record high lumber prices.
Housing Wire: New mortgage originations totaled $1.2T in the fourth quarter, New York Fed says.
John Daniel Davidson: The Failure Of The Texas Power Grid Is Worse Than You Think.
City Journal: Chicago’s Big Education, Inc: The teachers’ union’s outsize power comes at the expense of students, parents, and taxpayers.
Don Feder: Our Enemy: The Boardroom.
Mark Steyn: The Indispensable Man: Rush Limbaugh, 1951-2021.
