In the market for a new home soon? The National Association of Realtors has removed a 6% commission on buying or selling a home. The move is expected to dramatically reduce the cost of home searching, and it comes after the association reached a settlement to end anti-trust lawsuits filed by groups of homesellers.
The agency also agreed to new rules. One prohibits compensation from being included on listings.
That news comes out as some high school students are bypassing college and entering the real estate industry, specifically in the area of home inspections.
In recent years, the traditional route of heading to college straight out of high school has seen a decline, prompting students to seek alternative pathways to enter the workforce.
During a recent field trip, a group of high school students had the opportunity to delve into the world of home inspections, sparking their interest in the profession.
"It was actually cool to see a home inspector in action cause, like, I've never really known a lot about what they do," said Jillian Pittman, a senior at Lansingburgh High School.
Home inspection, integral to the real estate industry, entails a comprehensive examination of a property's systems and components. Inspectors utilize drones to assess the roof, ensuring buyers grasp the condition of their potential investment from top to bottom.
"I spent a lot of my time in the basement because that's where the magic happens," explained Kevin Maxwell, owner of Maxwell Home Inspection. "Our jobs as home inspectors is to ensure our buyers fully understand the purchase they're going to make."
Despite the Bureau of Labor Statistics projecting a 3% decline in all inspectors from 2020 to 2030, the real estate industry continues to attract individuals seeking fulfilling careers outside of traditional college paths. Maxwell's journey into the real estate industry serves as a testament to this unpredictability, as it wasn't always part of his plans but became a career path he stumbled upon.
"I have a bachelor's degree in criminal justice, and I was actually going to go down the law enforcement route. But that didn't happen. And I transitioned over to public service by being a building inspector," Maxwell shared.
Educational pathways and training options for aspiring home inspectors have evolved, with vocational programs, certification courses and apprenticeship opportunities increasingly available.
The shift comes amid changing educational trends, as the decline in college enrollment underscores a growing interest in skilled trades.
"It's great to go into a trade where there's minimal investment to a reward of income pretty quickly," remarked Adam South, a technology education teacher at Lansingburgh High School.
Experiencing home inspection firsthand through programs like shadowing initiatives sparks interest among high school students like Lucas Duff, who found inspiration in observing established professionals at work.
"Yes, I think that might be a thing that might be looking at, but um, it's cool to see from person who actually does it for a living, seeing how they do it and stuff like that," said Duff.