June 14 2017 - A career in real estate allows you to set your own schedule and earn $100,000 or more per year. That is a lot of money for networking and helping people. But wait, there are some downsides to it as well. After all, not everybody can be a successful agent. But if you believe that you have what it takes to be a successful agent, here are a few things you need to know about this profession.
It does not require more than a few weeks or months to complete the training and obtain the license. As soon as you get the license, you can start working as an agent.
You have to invest time, money, and a lot of effort to be a successful agent. And there is no guarantee that you will be successful. The real estate licensing exam is quite difficult and requires a thorough understanding of the concepts and several different skills. In most states, you need a license to work as an agent.
You are your own boss
Perhaps the biggest advantage of becoming a real estate agent is the independence you enjoy. You control your book of business. You make your decisions. Pair your skills with a solid work ethic and there is no limit to what you can earn.
Being an independent contractor has its downsides too. You have to learn the business yourself. In addition to managing the day-to-day affairs of your business, you have to network, gather leads, and market your business. Your success is in your hands. A lot of real estate agents have no idea how much hard work it takes to be successful in this sector. There is no point in entering this field if you are not willing to work hard.
You have a huge earning potential
When you are a real estate agent, there is no limit to what you can earn. The more time you invest, the more money you make. In addition, you can grow your business by hiring an agent and getting the appropriate license. When you have your own brokerage firm, your growth potential is enormous.
However, before you get your hopes high, keep in mind that you won't be earning much in the beginning. This can be a problem if you have bills to pay. New agents should ideally have a nest egg. It takes weeks or months to complete your first sale and it will be a couple of months before you get your first check.
You don't work from 9 to 5. As an agent, you can set a work schedule that suits you. Real estate agents spend much of their time meeting people, socialising, and building relationships.
But a flexible schedule can also mean being flexible to meet the needs of the client. As a result, you will find yourself working when others aren't. Weekends, for example, can be busy for agents. If a client calls on a Sunday morning, are you ready to drop everything and attend to their needs?
It is important to make your customers happy
For most people, their home is their biggest investment. Agents get tremendous satisfaction when they help their clients to sell their home or find property at a great price. Buyers and sellers look up to the agent as an expert who can help them find their way through the complex real estate transactions.
One downside to being an agent is that real estate transactions are usually stressful. Things do not always go as planned, and in such situations, you should have confidence in your abilities and skills. In spite of your best efforts, if a customer leaves unhappy, word of mouth can spread fast and affect your network.
If you are hard-working, self-motivated and honest, a career in real estate can be quite rewarding. That said, if you lack the training or the work ethic, it is hard to achieve success in this field. In order to be successful, an agent should enjoy socialising and helping people.
Anne Grobler is a business blogger who often shares her tips pertaining to improving one's career opportunities or establishing and growing a successful business. At the moment, Anne supports OpenAgent, real estate experts from Sydney. To learn more about Anne, visit her LinkedIn.
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