State housing recovery attracts more sales agents

TROY (AP) -- The number of people getting a license to buy and sell real estate is rising, a sign that Michigan's housing recovery is improving, experts say. Real estate agencies are adding more people as home prices rise and the state's economy gets better. Sales of existing homes rose for the second straight year in 2012 and are climbing again this year, The Detroit News reported. "Business is rebounding," said John North, chief operating officer of Coldwell Banker Weir Manuel in Troy. "People are looking at this as a good way to make a living." The number of real estate licenses issued by the state is up 10 percent this year to 49,146, the News reported. Past numbers were grim as agents dropped out. The National Association of Realtors reports that Michigan lost 35 percent between 2005 and the end of 2012, higher than the national drop of 21 percent. During that time, automakers struggled and shed jobs and two -- Chrysler and General Motors -- needed a bailout from the federal government. Michigan's unemployment rate in May was 8.4 percent compared to 13 percent in 2010. "Instead of making three good sales a year, you had to make 10 sales a year to make the same living," North recalled. "Sadly, we would hear things like, 'I have to go get a real job.'" Bob Jakowinicz of National Realty Centers in Livonia said there are plenty of buyers but a low inventory of homes for sale, just the opposite from 2009. Courtney Dunford, a 2011 graduate of Wayne State University, said she wants to ride the housing recovery. The 25-year-old changed careers, passed the state exam and became a real estate agent. Tracy Slintak, 47, also changed careers. She joined Coldwell Banker Weir Manuel in March and hopes to have at least 10 sales by the end of the year. Agents get a commission on sales. "The industry is coming back," Dunford said. Published: Tue, Jul 2, 2013