COVID-19, Becoming a New R.E. Agent in NYC. Good or Bad Idea?

Question

Background:

currently living in Philadelphia and contemplating moving back to NYC after a 9 year hiatus from NY (minus the occasion visits). Currently working as an engineer in a stable job. I'm looking to move back to NYC for the family and to become a real estate agent.

I am wondering if approximately 3 months from now, if it would be a wise decision to become a real estate agent given the COVID-19 circumstance. Any advice would be greatly appreciated.

Very Respectfully,

Hong Yang

Nathan Gesner · Answer

I got my license just as the real estate market crashed in 2008-2009. Everyone said it was a terrible time to get into real estate but I'm smarter than the average bear (not smart, just smarter than average) and I work hard to make my own success. Oh, and I trust God will provide.

People got into real estate last year when the market was booming...and they failed miserably. People will get into real estate this year when the market is uncertain...and they will crush it.

There is money to be made in any market for those that work hard.

Basit Siddiqi · Answer

@Hong Y.What is the purpose of becoming an agent?An engineer is a respectable position that should hopefully have a nice compensation. I would focus your attention on that profession, make your money and then invest in real estate.I guess its a totally different discussion if you hate the profession and want to get out.

Hong Y. · Answer

Thanks alot for the advice Nathan and Basit.

Nathan,

I'm so glad to hear you were able to crush it during that the recession, it gives me hope I can make it work as long I put the good old fashion elbow grease into it.

Basit,

It is a good and very stable profession, but I just feel the ceiling is too low for me and the rate of progression is not as self-driven as some make it out to be. Additionally, my family is in real estate investments already, I'm trying to learn more about the industry from a different perspective to be more competent.