Furthermore, Parent suspects job losses, especially in Chicagoland, might also be a direct result of more successful agents growing their business and taking on additional clients.
“Brokerages who are adapting well to the new swing of things are growing, many buying up smaller firms,” he says. “The ones that haven’t are struggling.”
As real estate in Illinois continues along its trajectory towards a more selective and sophisticated industry, Parent says it is going to be harder and harder for entry-level agents to grow a successful and, ultimately, sustainable business.
“It’s a matter of standing out,” he says. “Without a solid business plan in place for the new market, these smaller brokerages and self-employed agents are going to continue leaving the industry.”
Add to that very informative item about agents in Illinois the fact that the bad press Illinois and especially Cook County and Chicago where I practice and have for the past 22 years. The state of the city, no longer hiring, the service providers (fire and police hardly ever hiring) no one HAS to live in this area anymore. Hence, no compelling reason to live here,especially when Indiana and it’s lower taxes and fewer silly regulations beckon. Add to this the onslaught of PR from Lake County, Indiana about the virtues of living there and you have it!