So You Want to Be a Real Estate Agent?
Becoming a real estate agent can be a very exciting career choice. The possibilities are endless in what you can achieve, and well you have no boss! With that said, there are always two sides to every story. Becoming a real estate agent is no different. Here is a list of the pros and cons of becoming a real estate agent.
There is no ceiling on what you can achieve as a real estate agent. You get out of this career, exactly what you put in. There is no top level. The sky is literally the limit.
Ok, so this one is a double edge sword. As a real estate agent, you do not have a boss per se. However, you do have to be accountable and have consequences. The difference here is that they are set and enforced by you. And you alone. So, without a strong sense of drive, responsibility, organization and self control a career as a real estate agent will prove very difficult.
In my opinion, hands down the best part about being a real estate agent. As a real estate agent you will be working with people on a daily basis helping the with what can be the biggest decision of their lives. A memorable experience to say the least.
Real estate agents in large part are paid on commission. Meaning you receive a negotiated percentage of the sale of a home. So, without sales, you have no income. Another little unknown piece of the real estate agent income puzzle is that you will put in a lot of work with no guarantee of getting paid. Because, in most cases buyers don’t pay for a real estate agents services, you could potentially spend month showing homes to only have them decide they no longer wish to buy or even worse, they no longer wish to buy…. With you. The same goes for listing a home for sale. Sellers do not pay real estate agents up front. The commission payment comes after the home is sold. Even further to that, it in fact comes after it closes.
Being a real estate agent is expensive. There are a number of up front costs such as courses, registration, licensing fees. There are also ongoing licensing fees and insurance. Being a self employed individual, as a real estate agent you are responsible for all of your own costs. Any marketing you do, business cards. All on going costs are your responsibility.
Intense negotiations, winning, losing. The life of a real estate agent can have many ups and downs. This can be hard to manage day to day. On the other side of the emotional roller coaster that is a real estate career, the highs are incredible. The smiles you see on your happy clients faces when they win their dream home or sell their home for the most money in the best scenario is so uplifting.
There are many pros and cons to becoming a real estate agent. And each of these points can be viewed in a different way. When considering a career in real estate it is best to learn from other people’s experiences. Reach out to local real estate agents and ask for advice. Rules, regulations and start up costs are different in every province or country. So are the styles of practice. Learning more about how the real estate industry works where you live may be a huge deciding factor for you.
You must also ask yourself if you are willing to commit and go whole heartedly into your career. Given the nature of the industry there will be highs and lows. You must prepare yourself that you may feel like quitting when the going gets tough.
If you want to learn more about becoming a real estate agent feel free to reach out to us any time. We are happy to express our love for the real estate industry.
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