Reasons Why You May Consider a Career in Real Estate
Becoming a real estate agent can be a big decision. If you are considering a career in real estate, this may be a good option for you, especially if you have a knack for sales and dealing with various kinds of people. In fact, these days, more and more individuals are choosing to go down the path of real estate. There is an estimated growth in this industry every year because the real estate market is continuously evolving and growing as well.
The U.S. Bureau of Labor Statistics revealed their estimates that say the real estate agent profession is expected to grow 3 percent between 2014 and 2024. In the same token, the real estate broker profession is estimated to grow by 2 percent between 2014 and 2024. What makes a career in real estate a viable and attractive option for others? Read on below to see why professional real estate agents and brokers love their jobs, and why it is worth it for you to consider this profession.
#1 – The Freedom to Be Your Own Boss
Many professionals are actually shifting into becoming real estate agents to have the freedom to be their own bosses. Real estate agents are independent contractors that have the power to set their own hours. They have the luxury to work from home when they are working on proposals, fixing listings, or fielding calls. They can set their meetings on the most convenient days for them.
If you choose this profession, you will be able to manage your time and priorities based on your needs. Unlike in a corporate setting where you are tied to your chair from 9 to 5, in real estate, you can be more flexible. If your children ask you to attend something in school, you can re-arrange your schedule easily to accommodate their requests. Having the freedom to set your own goals is very satisfying. You can prioritize your tasks based on your goals. Moreover, you are rewarded when you put in a lot of effort.
#2 – It is a Quick to Transition to Real Estate Compared to Other Professions
If you are on the verge of switching careers, then becoming a real estate agent is sensible because the process to crossover to this industry is fairly easy. Unlike other careers that require long periods in the university and passing certain stringent board exams, a job in the real estate industry does not need such a fancy background. Getting your real estate license is also a fairly easy thing to do.
However, this doesn’t mean that a real estate job is easy. It just means that this industry is more accepting and welcoming of people with various backgrounds. Although the job is rewarding in real estate, it can also be demanding. The rewards, flexibility, and ease of getting into the field are the primary reasons why there are many part-time real estate agents out there.
#3 – Great Potential to Earn Big Money
You’re not alone in considering becoming a real estate agent. There are many others out there who like this career path because the potential for earning money is big. In this job, you are not limited to earning an hourly income. You’re also not limited to a particular salary range.
Your pay grade is not cut and dry every month. Your income is based on commission, which is dependent on how many houses you sell and how much those properties are. This also includes sales made from getting tenants to sign up lease contracts.
See our FAVORITE BOOKS for those that are considering becoming a real estate agent. Because a real estate job is essentially like running your own business, your main limitation is how you can grow your clientele, expand your reach, and boost your income earning potential. If you are hard-working and diligent enough, a career in real estate can actually be very lucrative. Of course, you don’t make money overnight. You have to be willing to put in the long hours in order to succeed.
Quickly after becoming a real estate agent, you had better figure out that the main priority is the client, so you have to put in your best effort to please their needs, no matter what. If you don’t merely worry about pushing for a sale, but you truly prioritize your client’s need, you will end up more successful. Help people to get their heart’s desires. Be their partner in finding their dream home. Sales will never be too far behind when you are truly invested in your client’s happiness, as referrals will become your biggest revenue source over time, but this is another topic for another day.
#4 – Satisfaction in Being a Partner in Major Milestones
If you enter into this industry, you will be a part of families’ major milestones. Helping someone secure their dream home is very fulfilling. Many real estate agents find a deep sense of satisfaction knowing they have helped people through a major moment in their clients’ lives. Moving to a dream house will always be memorable for those people you have helped, and you will always be seen as a partner who is a part of that memory.
Whether it is helping a newly married couple move to their first house, helping an established couple find their vacation home, or finding the right condo for a bachelor, a real estate agent plays an important role in several stages of people’s lives. You will feel a sense of belonging to your community and develop lifelong friendships along the way.
Becoming a real estate agent, you do not just sell houses. You sometimes have to act as a life coach, financial advisor, friendly ear, and part mentor to your clients. Thus, this career is a fulfilling path for those who love to help out other people. In finding residential properties, there is usually a lot of emotions involved. When someone trusts you to be their agent for this kind of project, you feel very rewarded, and there aren’t many professions that offer this type of opportunity.
#5 – Never a Dull Moment on the Job
Every single day is not the same for most real estate agents. If you get into this profession, you will realize that is always evolving because this job is dependent on many other factors. If you enter this field, you will not be bored of repetitive tasks. This career is actually perfect for people that find an office job boring.
There are just some personalities that do not enjoy doing the same things over and over again. If you are the type of person who thrives on new trends, loves changes, enjoys adapting to different markets, then a career in real estate will certainly offer you versatility.
Apart from this, you also get to meet a lot of new people and interesting personalities. Unlike in a regular job where you are stuck seeing the same faces every day, with real estate, there is a possibility of meeting someone new on a daily basis. If you are the type that loves to socialize, then you will thrive in this kind of business setting.
#6 – Develop Respectful Relationships and Friendships
Becoming a real estate agent means spending some time learning the nuances of the craft. As the days go by, you will also hone your skills in this field. You will eventually realize that you have become truly knowledgeable and good at what you do. You will feel clients looking up to you and constantly asking you for advice. When clients go to you with a question, you can confidently answer them.
The reputation you have painstakingly nurtured will help you. Eventually, it is the clients who will come to you because your long roster of happy clients recommends you out of their respect for you and their faith in your abilities as a real estate agent. This again contributes to that feeling of fulfillment and satisfaction, which helps you to become a more positive person who lives a purpose-driven life.
#7 – Working Hard Pays Off
If you end up becoming a real estate agent, you will realize that this job entails a lot of hard work and isn’t nearly as easy as HGTV can make it seem. But the main thing here is you are working hard not for someone else who owns the company where you are employed. Instead, you are working your butt off for yourself. Remember, you are striving to hit your targets because you are your own business.
Every action you take is in the direction of building your business, the way you want to build it. That my friends is a beautiful way to live.
Some Related Questions About the Job
How long will it take to get my real estate license?
The amount of time it takes to get your real estate license varies from state to state. I’ve created a guide to getting your license in each state. Here is a link to the interactive map to help get you to the right place.
Can a realtor make good money?
The short answer is, yes, you can certainly make a lot of money being a real estate agent. However, the long answer is more complicated than that. Some agents have a median gross sales of more than $120,000, but the common rule is that 10% of agents make 90% of the sales. Real estate agents that dedicated their full-time careers to making sales tend to be the highest earners in the industry, and it often takes them 2–3 years to establish themselves. Read my financial guide for more information.
How fast can a real estate agent make money on the job?
If you are new, you cannot expect instant results. For some people, it can take 3 to 6 months before they start to consistently make any income, others it can take years. The main thing here is you don’t give up easily and continue to work hard over time. Referrals and leads can snowball over time into a very nice-sized real estate business.
When do real estate agents get their commissions?
Real estate agents are typically paid entirely by the seller of the property, and the amount they receive is usually between 2-4% depending on what was negotiated in the contract. This commission is paid out to the brokerage, who then will typically review all of the documents and process payment within one to two weeks or sooner depending on the brokerage. However, some states do pay their commissions directly from the title company, this is something that changes depending on your location.
Is being a real estate agent stressful?
It can definitely be a stressful occupation. Agents don’t typically make a sale until a deal is closed, so this can be very alarming for some people who have few leads or prospects in their pipeline with bills to pay. Deals can also become entangled with upset buyers or sellers. However, as you grow your career and knowledge, you will learn how to successfully manage these issues. Staying consistent, being honest with clients, and having great organization is a great ways to avoid the stress that is related to your real estate career. I’ve curated a list of tools and tech that may help.
Getting your real estate license is easy, but becoming a great real estate agent is a completely different story. If you want to excel in this field, you will have to be willing to put in the effort to market yourself and your listings well.
There are no shortcuts, you have to make sacrifices to your personal life and prioritize your clients in order to attain continued success. If you read through this article, and this still sounds like the right career for you, then you should definitely consider becoming a real estate agent and read my guide about how to begin interviewing brokerages as soon as possible.