I love Real Estate. I did not intend to become a Real Estate Agent. I was headed for a Marketing Career. I had worked in marketing departments and really thought that was the path I would take. But in the end Real Estate found me.
I was looking for a house with a Real Estate Agent. She did not know the area and showed me houses that did not fit my criteria. I keep thinking: I could do a better job than her! Then she told me she had to leave so she could pick up her kids from school. I thought wow! She gets to work around her own schedule and she is making money doing this! I started asking her questions. Then I went home and did more research. It all sounded perfect. Lots of money, you are your own boss, you get to work with great people, and you set your own hours. I keep thinking that is just the career for me!
Luckily it was the right choice. But lots of people become Real Estate Agents and quickly realize it is not the right choice. The turn over is very high. Here is an honest look to help you decide whether real estate is the right choice for you.
THE INCOME. If you have a second income you will have an easier time making a real estate career work for you.
Getting started as a Real Estate Agent is expensive. You have education, license fees, office fees, Multiple Listing Service fees, and for most the list goes on. Most offices also start new agents at a lower commission structure making it harder to make money to cover these fees. You don’t get paid until the house closes. For sellers it could easily take six months and buyers three months (check the figures for the area you intend to sell in). Most Real Estate Agents who do not have a second income during the first year (possibly two) usually do not succeed in Real Estate.
THE HOURS. If you can be flexible you will have an easier time making a real estate career work for you.
Real Estate Agents often work around the clock. Days, Nights, and Weekends. We have no limits. Learning to create limits while still having a flexible schedule is hard to do. Trying to decide if your kids soccer game is more important than the out of town client are common decisions Real Estate Agents face. And because contracts all have deadlines be prepared to take your work with you where ever you are (including the family vacation). Burnout if very common with Real Estate Agents because they do not know how to schedule a life around the hours.
THE CLIENTS. If you have a large sphere you will have an easier time making a real estate career work for you.
Think about who you know and if you think they would use you to sell a house. If you don’t have a sphere then you have to create one. Creating one however can take time. You will need to meet people. Joining some organizations in the community is a way to get the process started. If usually takes three years before you start seeing repeat clients and referrals coming your way. So until then you have to create your own clients. And if you don’t have a sphere then the only way to do that may be through office phones and cold calling.
THE BOSS. If you are multi-task and detail oriented you will have an easier time making a real estate career work for you.
You are your own boss. You are also the receptionist, the secretary, the mail clerk, the marketing director, the advertising staff, etc. Be prepared to spend as much time on the computer as you do with the client. Because of the amount of responsibilities a Real Estate Agent faces be prepared for the amount of stress that comes with it. You will have to oversee every aspect of the process from the first showing to the day it closes. And deal with all the people that come with it (clients, loan officers, other real estate agents, inspectors, surveyors, inspectors, repair contractors, closers, etc).
In the end, I hope real estate is still the right choice for you!
Tags: Real Estate Agent Career
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