Why Lenders and Realtors Are Quitting the Industry #realestate

Thomas Feng
Thomas Feng
Published on August 21, 2024

With the market kind of changing, do you guys see a lot of realtors dropping out of the the game here, like you see people retiring and changing careers?

Do. You know, I mean, we got laid off from like lending like their whole office closed down. Anything like that for you guys. Have you heard about that? A little bit. We are. We definitely have a lot of lenders did get laid off this year, not so much last year, but this year. And part of it, because we’re we’re in an organization called ARIA Asian Real Estate Association of America.

And the president this year, Silicon Valley, we have a big network of lenders. But what really happened was during COVID, when all the real estate sales went crazy, they started hiring so many lenders and they just had too much and they had to cut the fat and or, you know, from what a lot of my lender partners, I’ve just heard that, you know, the major banks have cut like 50% of their loan officers now.

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