Has there ever been a time as tough for real estate as now?

I have been working as a real estate agent for over 15 years, and these days, I genuinely find myself thinking several times a day, "Should I keep doing this?"

In the past, when clients came to see a house, there was a process where they first encountered the listings through me and got a feel for it while I explained. But now, it's very different.

Nowadays, people, especially Korean buyers in their 30s and 40s, come in already knowing all the listing data from the internet.

They check Zillow, Redfin, Realtor.com, and even the property history and tax records, sometimes knowing more than I do.

"This house sold for 1.25 million in 2017, and the remodeling was done then, right?" They often say this before I even get a chance to explain.

And the biggest wall is... the interest rates. Currently, mortgage interest rates are above 6.6%.

In the past, buying a $700,000 house at around 3% interest would mean monthly payments of about $3,000, but now you have to pay at least $5,000.

But has the house prices gone down? Not at all.

Los Angeles house prices are stubborn. Even if demand decreases, prices don't budge.

With low supply, sellers think, "It will go up again someday," and just hold onto their properties.

As a result, the transaction volume has drastically decreased. Buyers are scared of high interest rates, and sellers won't lower their prices, creating a growing gap between them.

So how do agents like us make a living?

Deals are needed to earn commissions. But if there are no transactions, how can we receive commissions?

In the last four months, I have closed only one deal. It was just one condo. After deducting broker fees, taxes, advertising costs, and expenses from a $50,000 commission, there's hardly anything left.

Moreover, nowadays, even sellers and buyers give me the impression, "Aren't you charging too much in commission?"

Receiving 3% feels like being treated as a criminal, and it's common for them to ask, "Can you lower the commission?" when listing.

In the past, just listing a house would bring in offers within days, and competition would drive the price up.

Now, even if a property is listed for a month, most don't receive a single call.

These days, I am seriously looking for other work. Of course, starting something new in my late 40s isn't easy, but it feels like I can't make a living anymore.

People often think that being a real estate agent is a job that makes a lot of money. They say, "If you close two or three deals a month, you're making tens of thousands, right?"

That was true at one time, but it's not anymore. The work has increased, the deals have decreased, and all that's left is anxiety.

In times like this, I sometimes think I should just accept it as fate and take a break.

Still, it's strange; occasionally, when I meet really good buyers or sellers and a genuine transaction happens, it rekindles my passion for the job.

"Yeah, this job is about meeting people," I think. But that's really rare, and most of the time, it's just about holding on.

Today, I sit in front of my computer, checking MLS, looking at interesting listings, and scheduling open houses, but my mind is complicated.

Advertising costs keep going out, expenses keep rising, I take the property photos myself, and I manage social media every day.

Some might envy what they call the 'freedom of self-employment,' but in reality, my time is free, but my mind is in an unstable state.

To sum it up... it's true that real estate goes through these tough times whenever the economy is bad.

However, this cycle feels particularly long and deep.

In times like this, agents like me who are on the ground are the first to be hit.

It's not because I did something wrong, but because the market is temporarily making it hard for us, and I comfort myself with that thought as I endure another day.

I sincerely hope... that by this time next year, I can look back at this article with a smile.

And if anyone interested in real estate brokerage is reading this... let me tell you in advance. This field is really not easy these days.