"While Schachter said the area's economy is quite strong, he felt it wasn't strong enough to suddenly absorb thousands of people into new roles. Suddenly you've got over 10,000 people that are out of work that now may or may not be able to make their mortgage or rent payments, Schachter said. So, I looked at how this would impact our business and how we could help."
"I said we can give these people scholarships and that would accomplish two things: perhaps some of them would find a replacement career or bring in some income while they are out of work and second, by helping them find a source of income, we can hopefully keep them in their homes and not flood the market with listings due to them being unable to afford their homes or having to move to find work."
"While Schachter typically runs licensing classes in person or via live Zoom classes, to meet the needs of former Spirit Airlines employees he is offering the class online, allowing people to work at their own pace. The course is free for those impacted by the Spirit Airlines shutdown, however students will have to pay for their license application fee, exam fee and fingerprinting fee."
"Additionally, those who use the scholarship program will be required to join Schachter's brokerage for one year after obtaining their license, where they will earn a flat 70% commission split. As of Monday afternoon, Schachter said over 70 people had signed up for the scholarship program. Schachter's Signature School of Real Estate also offers other training and education programs, which he said will help scholarship program graduates navigate the business of real estate well after obtaining their license."
The local economy was viewed as strong, but not able to quickly absorb thousands of displaced workers into new roles. A brokerage owner and real estate school operator created a scholarship program for former Spirit Airlines employees seeking real estate licenses. Scholarships aim to help people find replacement careers and income while they are out of work, and to reduce the risk of housing instability that could increase listings. The licensing class is offered online so students can work at their own pace. The course is free for impacted individuals, while license application, exam, and fingerprinting fees must be paid. Scholarship recipients must join the brokerage for one year and receive a flat 70% commission split. Over 70 people had signed up, and additional training is provided to support graduates beyond licensure.
#economic-impact #workforce-retraining #real-estate-licensing #scholarship-program #housing-stability
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