MIAMI (AP) — To motivate a classroom packed with 87 aspiring real estate agents, instructor Keith Grandy started off his one-week, intensive course with the promise of big money: With hard work, fresh licensees in the Miami metro area could make $100,000 a year if they complete at least two transactions per month, according to current property prices and commissions.

With 67 condo towers being built in South Florida, a pace not seen since the housing crash of 2007, such a payday seems more than possible to Grandy’s students, despite competition so intense that many of them will leave their new career without completing a single sale.