Top 6 Reasons to Be a Real Estate Agent
The Reasons Many Choose to Become Real Estate Agents
There are few ways to climb out of a stagnant wage rate, but owning your own business is one that works and can provide a lifetime of benefits. The thing about starting a new business though is that it can be expensive. The good news is that becoming a real estate agent can get you started in your own business at a very low relative cost. The cost of a license exam course and the test is really all you need.
It's really quite easy to recruit new real estate agents. When a broker who loves the business talks with a potential agent candidate, you can feel the excitement building. From being their own boss to growing a lifelong business, there are so many reasons to choose a real estate career.
Be your own boss. Most real estate agents are independent contractors. They set their own work schedules, develop their client base, decide on their marketing methods and grow their business as their own.
Your business growth is all up to you. There are no limits for growth of your real estate business. Couple a good attitude with a superior work ethic and you can realize fantastic rewards. You'll need to incorporate good business skills and develop effective marketing. It's all in your hands.
One overlooked facet of the real estate profession is that this "independent contractor" status means you are in business for yourself.
While the broker you choose often supplies you with an office space, support, training and prospects, you should always be thinking of it as your business to grow and move as you see fit.
Excellent client service will yield future rewards. In the "2005 National Association of Realtors® Profile of Home Buyers and Sellers", we see that 66% of home buyers said they would definitely use their real estate agent again or recommend the agent to others.
It's a huge benefit of this business to be able to reap future business from the good will of past customers (clients). So pay as much attention to the nuts and bolts of the job and to customer service as you do to marketing. You'll see great results later.
Your time is yours, so take that vacation! Develop relationships with other agents in your office. Once you find someone with a similar style and work ethic, you can work with each other to set up off time and know that your clients will be handled the way that you want. You're in charge of your business and your time off.
Your business can be as large as you like. The real estate business offers huge potential for expansion from your "one person show" beginnings. As an agent, your income is controlled in large part by the time you invest. Grow your business by adding an assistant, or several. Or you can get your broker license and build a brokerage, sponsoring agents to leverage your potential.
Develop a plan to provide the "good life" later. If you decide to develop a brokerage business, it's possible to structure it for sale at any point in the future. Using good business practices, the value of your brokerage business will grow and be a marketable retirement asset.
It's Not Easy Money!
I've made it a good thing here that it isn't expensive to get into this business. That coupled with low barriers to entry education and training wise lures people into the business who shouldn't be here. There is a prevailing attitude out there that real estate is fast, easy and big money.
A large percentage of new agents get back out of the business in their first or second year. They find that the easy big money just wasn't there. They struggled and worked long and hard and took home very few commissions. Their costs to ferry buyers around in their cars was higher than they anticipated, and they really learned to hate working with buyers.
Starting out part time may be a little more challenging in marketing, getting business and meeting client schedules, but it helps some to stay in the business until commissions start flowing.
It's not fun when you're working hard and long and not bringing in the bucks, but it's worth sticking around if you can.