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Minnesota is experiencing some similar situations. My business has been pretty bad. My husband and I both work in the industry. We had been selling exclusively for a builder until a year ago. We saw the downturn in Sept 04 during the Parade of Homes here. We agonized over moving our licenses to a regional broker to expand our business into the existing market. But it has been like starting all over from the beginning. We have 5 listings, two have had some activity, but only low ball offers the sellers couldn’t accept. So we’ve only managed one closing this year. I also appraise real estate and when the sub prime market died, so did my appraising business. So we’re looking at our options right now too. Not many companies will hire 50+ yr. olds.

Its a simple answer. Work with well qualified buyers who can use banks like bank of America, or wachovia. Use large banks who do not allow subprime, they will be staying in business for many years. If you have first time home buyers use your states program to get a loan. There are many ways around it, but the best is make sure your clients have a credit score of 680 or above, or 20% down payment

Minnesota is experiencing some similar situations. My business has been pretty bad. My husband and I both work in the industry. We had been selling exclusively for a builder until a year ago. We saw the downturn in Sept 04 during the Parade of Homes here. We agonized over moving our licenses to a regional broker to expand our business into the existing market. But it has been like starting all over from the beginning. We have 5 listings, two have had some activity, but only low ball offers the sellers couldn’t accept. So we’ve only managed one closing this year. I also appraise real estate and when the sub prime market died, so did my appraising business. So we’re looking at our options right now too. Not many companies will hire 50+ yr. olds.