Are you thinking of getting into luxury real estate in Modesto but not sure if now is the right time for you to specialize? Wondering if working in this luxury niche would be profitable or not? Well! Believe or not, there are a lot of good and worthy reasons for you to become a luxury real estate in Modesto right now. If this niche market of the real estate industry has been on your mind, you may want to seriously consider moving forward with that goal sooner rather than later. Thinking why? Let’s scroll down to the article!
Real Estate a Booming Industry to Pursue as Career
No doubt, real estate is one of the most demanding career paths in this recent time. The reason why it is mostly preferred because becoming a real estate agent means being your own boss. There is a chance to set your own hours, be your own boss, and achieve great things. A career in real estate can be extremely rewarding. There are no set rule books of tactics to achieve success in a real estate career. Thinking creatively opens the door for your expertise and overall appeal as a real estate agent to shine, and effectively earning the business you deserve. Also, being in the business of real estate implies taking the right decision at the right time. You must be a good decision maker if you want to achieve success in the real estate career. While there are many types of real estate career, choosing the one that profits are very important. Timing is the key in the world of real estate. So, your choices must be time-efficient.
Why Luxury Real Estate Is the Preferred Segment to Take Up as Career Now?
Luxury real estate is one of the booming segments of this industry. Here are 3 prime reasons why this is the good time of the year to become a luxury real estate agent in Modesto.
If you are eyeballing the luxury real estate niche in Modesto, these below reasons will definitely help you make the choice to jump in.
- Luxury Real Estate Is a Growing Segment
When you think about the luxury real estate niche, you don’t essentially have to imagine about multi-million celebrity estates. They do not represent the top of the luxury market. There are homes that hover between $500,000 and $1 million that could be considered luxury depending on their location. The number of sales above $1 million rose 6% in the last year that well shows that the opportunity in the luxury real estate is continuing to grow. As wealth is transferred and millennials start to accumulate assets and buy property, the luxury market could continue to see positive growth. Taking up this segment of real estate as a career will help you earn good and achieve success.
- Wealth to This Segment Is Increasing
As per several statistics reports, it is found that real estate was the only asset class to see a significant increase in high net worth asset allocation in 2017-2018 end. As wealth grew, a lot of it gets inherited or transferred through real estate holdings. There is a lot of money to go around if you are working in the luxury niche of the real estate industry right now. Becoming a luxury real estate agent in Modesto at this time of the year can help you have a larger client pool and bigger budgets to work with.
- International Buyers are Ready to Make Investment on Luxury Real Estate
If you choose to become a luxury real estate agent in Modesto, your client base will not remain limited to just domestic buyers. Most of the international buyers attract towards this segment of the real estate market. As per a few studies, it is found that sales of luxury real estate to international buyers totaled $121 billion from April 2017 to March 2018. This amount represented a total of around 266,800 luxury properties sold to international buyers. Another advantage of taking up this segment for your career is that approximately 72% of non-resident foreign buyers pay cash when they buy luxury homes, so they are typically serious, qualified buyers and don’t have to wait for approvals from lenders.
Aren’t all these reasons makes becoming a luxury real estate agent in Modesto at this time of the year worthy? Well, though these reasons are good enough to make luxury real estate a choice but before you specialize in any domain or segment, you must first do your part of research on it.
There may be many promising signs that show the luxury market is a strong choice if you are looking to specialize, but you should make sure you are staying updated with the trends in your niche and location in case you start to notice changes. There are a few ways to start with your research on the luxury market before you dive in. Firstly, speak to other luxury real estate agents to learn how they overcome the challenges of working in this space. And then, use a research tool to understand what’s going on in your market.
Partner With ‘The JRP Group’
In order to attain success in the real estate market (irrespective of the segment you specialize), you need a highly reputed brokerage firm to back your profile and assist you with the right tools of conducting real estate insights.
The JRP Group is there to help new real estate agents establish successful careers in the industry. We support newbie real estate agents with proper training, technology, and marketing system.
Whether you want a successful career in luxury real estate or any other segment of the real estate market, we offer all guidance and support to help you attain your goal as a real estate agent.
To become a successful luxury real estate agent in Modesto, you can partner with us and work under our brand. We offer ample of opportunities to grow your career as a real estate agent. For details about us, call us on 209-477-4222!
You can also get information from our website whyjoinjrp.com