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Forced to sink or swim, Realtors see peers drop out of the business
By Caitlin Coakley CHARLOTTE — Getting a real estate license seemed like a good idea in 2006, when Charlotte’s market was booming, said Kayte Malik. “I had a passion for it at the time, and I thought that it would be a good career path,” she said. Three and a half years later, the boom became a bust, the market is shaky and many Realtors who got into the business have jumped ship. Malik, 29, said between student loans and other expenses, working in real estate left her finances too tight, and she’s now searching for another career. Back then, everyone wanted to get into real estate. Between July 2005 and June 2006, the North Carolina Real Estate Commission issued 10,768 licenses — 78 percent more than were issued between 2003 and 2004. “Everyone was an agent,” said Scott Lindsley, a broker for My Townhome. “Really, during the frenzy, it seemed like whenever I had a client that got a great investment deal, they called me six months later to tell me that they had gotten their license also.”