By Brad Schleicher, Sun Reporter
Sunday, March 16, 2008; L1

With home prices sliding, interest rates falling and worried sellers looking to deal, this may be a good time to become a homeowner. But is it a good time to become a real estate agent? During the boom, young people -- and those looking for a midlife career change -- were drawn to real estate. Money magazine listed "real estate agent" among the Top 20 jobs for the "young and restless."

As the market slows and competition increases, young agents are feeling the pinch, perhaps more than others. Still, for many real estate agents younger than 30, the keys to success have less to do with age than with experience, knowledge and a guiding hand.

Mike Muren, 24, understands what it takes. In high school in Frederick County, Muren wrestled with the idea of attending college, considering his grades fit for a future in higher education. But instead of plunging headfirst into a world of lecture halls, midterm exams and all-night cram sessions, he decided to stick to a subject that he had a little more interest in. Muren describes real estate as his calling. It was something that sparked his interest since moving with his family to Maryland more than 14 years ago.

"At first, I had a lot of thoughts to do college and considered getting that education," says Muren. "I thought that it would be an interesting experience. Education is always valuable, but the business that I ended up building has made me enough money." To get his foot in the door, Muren completed a high school work-study program at Mackintosh Realtors in Frederick. After earning his license at 19, he began working full-time and in just five years, Muren has racked up almost $120 million in home sales.

Muren is somewhat of a rare case, according to Debbie Hager, director of the Rookie Realtors program for the Maryland Association of Realtors. She points out that the real estate business is usually very difficult for young people to break into, regardless of how favorable the market happens to be at the time. "You would be hard pressed to find many realtors under the age of 25," says Hager. "It is hard to break into the business at a very young age." Muren also made the move at a time when the market was on an upswing.

But considering the flat-lining real estate market, the likelihood of a younger agent really excelling in the industry is slim. "Realtors are starting to realize what they're dealing with. It's definitely not a very good time to get started," says Muren. "For new Realtors, I wouldn't count on it being a real moneymaker." A little more than two years ago, Muren says, agents were competing for a normal amount of business. Now, there is less business to compete for.

Some agents who are not completely committed to the profession are slowly dropping out of the business. David McIlvaine Jr., 25, of Keller Williams Realty found out first hand that real estate agents sometimes are forced to find additional means of employment. "Today you see a lot of part-time agents who are bartending, getting second jobs or looking for other avenues or something constant to hold them off until the business goes back up again," he says. "It's like those agents are looking at the real estate business and asking, `where is my two-week paycheck?'" Youth's disadvantages Young people entering the real estate business right out of high school or college face more disadvantages than someone who is looking for a second career.

According to Long & Foster agent Erica Solomon, committee member for the Maryland Association of Realtors' Rookie Realtor Program, becoming a Realtor involves taking a big chance on a career that doesn't yield an immediate payoff. "There's a lot of out-of-pocket expenses from the start," says Solomon. "You're not taking a job, you're starting your own business, which means that there's usually a window of time before closing your first transaction. Some young people don't have that sort of financial stability." Another disadvantage that a young real estate agent can face is the failure of a client to take them seriously. McIlvaine found out quickly that respect isn't something automatically given.

"When I first got into the business, I learned that you have to earn respect," says McIlvaine. "People respond to confidence and when you come prepared to a meeting and hit your client with every statistic possible, their questions are few." In addition to a sharp knowledge of real estate issues, Hager says a young person in the business needs a strong mentor. Early in his career, Muren found just such guidance from veteran broker Buzz MackIntosh, who took him under his wing and showed him the ropes.

All in the family

For a young agent, having a family member in the business is an invaluable asset. Not only do they provide advice and a guiding hand, but they also can provide a sense of inspiration. For Anslie Stokes, 29, Realtor for Washington's McEnearney Associates Inc. and a 2007 finalist for Realtor Magazine's "30 under 30," a career in real estate was always the plan and advice was always a phone call away. "Dad is a custom builder and Mom was into real estate back home," says Stokes. "It was something that I planned to do eventually, probably while I was in high school."

But for McIlvaine, going into real estate became a sort of a backup plan after he tore both anterior cruciate ligaments, smashing his dreams of playing lacrosse for Goucher College. He looked to his parents, Bonnie and David McIlvaine Sr., who are both Realtors, for guidance. With their help, he was inspired to put his energy into the family business. "Instead of lacrosse, I wanted to direct my passion to something else," says the younger McIlvaine. "I saw what my dad did and how he helped and provided for the family. That was the initial push."

Without the benefit of a mentor, Stokes says few young real estate agents are prepared to operate on their own, despite 60 hours of training for a real estate license. Although courses provide an overview of the business, including legal issues, a new agent can still have a lot of questions. "Licensing doesn't teach you how to show a property or negotiate on behalf of the client," says Stokes. Stokes recommends that new realtors invest in advanced courses if their brokerage doesn't offer some sort of rookie training program. "Sometimes you have smaller brokerages that have a tendency to turn inexperienced Realtors loose -- I think it's a problem," Stokes says. "Allowing someone who just has their license to go out on their own is a recipe for disaster."