Find Out If a Real Estate Agent Career Is Right for You
Pros and Cons of Working in Real Estate
A lot of people think that a real estate career is easy money and it can be—usually after a while. But there's a lot more to it than that.
Real estate can be a rewarding career choice for just about anyone. Those entering the field have quite varied backgrounds and skill sets. You don't have to be a "salesperson." This is primarily a service business so serving your clients well will contribute to your success.
And the real estate job outlook is good.
Agents Have Varied Backgrounds
You might bump into a real estate agent who has just graduated from high school or one who's a semi-retired business executive launching a second career. Many people have found real estate to be a natural transition from another sales career and that it's more fulfilling as well. After all, you're helping people in what's often one of the largest financial transactions of their lives.
Education Requirements Can Be Minimal
You don't need a college degree to become a real estate agent, although education is typically helpful in any career you pursue. Some states have training requirements and you'll have to pass a licensing exam, but you can do this in much less time than it takes to earn a bachelor's degree.
The Tech Advantage
Today's tech and the mobile world can help agents who aren't exceptionally people-oriented to become successful in real estate.
Tech opens up new opportunities for success in real estate. If you can work a good website that's mobile device-friendly, if you can handle some social website posting, and if respond quickly to emails or text messages, you should have a real chance to connect with prospects.
The Pros of a Real Estate Career
You'll probably find very diverse reasons for choosing a real estate career if you question a group of brand new agents.
Many love the "helping people" aspect while others want to exercise their independent nature and be their own bosses.
Most real estate agents and brokers are independent contractors so they're able to set their own work schedules and build their businesses the way that they want. The flip side to this is that you must treat your real estate career like a business.
It takes commitment and an investment of effort, time, and money to build a successful real estate career. This is the case whether you remain a "one person show" or if you start a brokerage with agents later.
That said, you'll get a lot in return:
- You're an independent contractor so you can control your own business.
- Your income isn't limited. It's based on your skills and your work ethic.
- You can set your own work schedule...and vacations.
- You can work outdoors and in varied locations.
- You can build future business with great service and client referrals.
- You can enjoy helping people with one of the most significant financial transactions they'll ever enter into.
The Cons of a Career in Real Estate
Of course, there are disadvantages, too:
- If you're an independent contractor, you're on your own when it comes to making sure your business thrives.
- Income can be a long time in coming when you first start out. The early months and years in this profession can be feast or famine until you get going.
- You have to be available when your clients want you...even when it's not convenient for you.
- There's a high failure rate for new agents.
- Liability and risk are part of representing clients. You'll need insurance because some mistakes can get you sued.
•You're an Independent Contractor and control your own business.
•Your income isn't limited & based on your skills and work ethic.
•Set your own work schedule and vacations.
•Work outdoors and in varied locations.
•Build future business with great service and client referrals.
•Enjoy helping people in one of their largest financial transactions.
•You're an Independent Contractor and on your own to learn the business.
•Income can be a long time getting going and "feast or famine".
•You have to be available when the clients want you.
•There's a high failure rate for new agents.
•Liability and risk are part of representing clients.