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How will the real estate industry fare in years to come? According to the Bureau of Labor Statistics (BLS), real estate agents and brokers will find their industry growing fairly well, because the growing US population needs housing, and because real estate continues to be viewed as a good investment.
With the median age of US Realtors now in the early 50s, the BLS predicts 151,000 more will be needed between 2004 and 2014 to replace retiring sales professionals. And workers drop out of this highly competitive occupation by the thousands each year, which creates additional openings.
Part-timers and those who practice real estate on the side will find that increased use of technology is allowing full-time agents to serve more customers. Also, real estate regulation has increased. Marginal agents will need to invest in technology and stay current on legal changes or face being squeezed out, the BLS predicts.