High mortgage rates are pushing agents and lenders out of the business, which is bad for people already in it but could be an opening for anyone starting now.

• Most real estate agents and loan officers are leaving the industry because high rates have killed off deal volume.
• Fewer competitors means someone starting today can build a name and a client base with less crowding.
• The bet is that rates eventually come down, and whoever is already established by then catches the rebound.
• The catch is the wait: it means grinding through several lean years before the payoff.

Outlook: Rates are expected to stay high in the near term, so the business will keep shrinking before it recovers.