8 reasons — why a real estate agent career is a great choice
Last year has been challenging for all professions, however, one of the few professions that managed to withstand the hardships and actually register growth was the real estate business. This growth under incredibly difficult times has led many young students who have graduated to consider this as a possible future career path and are inclined to become a real estate agent.
Similarly, many professionals working in other fields are thinking about making a switch to the real estate industry as they see better future prospects in it. For all those who are not sure whether you should actively try to build a career in the real estate industry or what benefits new agents can expect, we have got our real estate experts, who have been in this profession for decades, to identify 8 reasons as to why a career as a real estate agent could lead to your personal success and growth.
Is a Career in Real Estate Right for You?
There are always two sides to every story, and a real estate career is no different. Below is a straightforward look at the pros and cons of a real estate agent career. You can set your own schedule with an annual earning potential of up to $100,000 or more. You can also earn an annual salary of $1,000-per-year at the bottom of your salary. In this case, you can earn more than $10,000 per year in three years.
How are your boundaries?
It's not uncommon for buyers to call up asking to see a property on a few hours’ notice. Sarah Davis advises setting boundaries for when showing houses in the evenings and on weekends. She says recording an answering message on your cell phone should say "I will call you back on a Monday through Saturday from 8 am to 6 pm, or "If you’re calling on a Sunday or an evening I will return your call the next business day" You may have to make exceptions during negotiations.
Real Estate Agents Make a Good Income
As a real estate salesperson, income is largely dictated by the time you invest. Grow your business by adding an assistant or getting a license that lets you build your own brokerage. The growth potential is huge. At first, your cash-flow direction will be out. It will likely be a couple of months or more before you cash your first check. It will be a feast or famine situation. The first time you get your first sales to come in will take some time, and it's likely to take you a few months to get a check.
What Is a Real Estate Agent?
Real estate agents are small business owners who make their schedules, market their own business, generate their leads. This is a big responsibility, but for many people, this is the ideal job. Here is a list of the 8 reasons to get a real estate agent job in 2021, including the chance to have the freedom to grow up to the age of 30 years in the real estate industry.
You Make Your Schedule
All of your success is entirely up to you, and you dictate what you want to do with your time. Maybe you work 10 hours a day to get ahead and expand in your market. It's all up to the individual you want or want to take a vacation or take a day or two days off to grow up your career. You can work when you want, and what you need to do is to go on vacation or.
Professional Reasons To Consider A Career In Real Estate
A career as a Realtor® requires a certain amount of hard work and initial investment same as all other professions. However, we still firmly believe that unlike other professions there are few reasons, which make a career in the real estate industry stand out. These are the reasons why becoming an agent could be the best professional decision for you to take.
Reason 1: Building A Career In Real Estate Requires Minimal Cost And Time
Let us start with the basics. In order to begin your career in any field, you would need a college education and possibly training for a certain period before you are ready to earn money. This holds true for all professions including the real estate business.
However, the cost of the education and the time that is taken for the completion of the training is where the real estate business becomes a better choice.
For instance, if someone wishes to become a doctor they have to study for 4 years for an undergraduate degree, another 4 years of study in medical school, and around 3 to 7 years as a medical resident. That is at minimum over a decade of studying alone. And the median cost for medical schools alone was $250,222 for 2019-2020 in public institutions. The cost was higher in private institutions.
This is similar to most other professions with some variances. Now compare the same with time and cost to obtain a real estate agent license.
Depending on the states' requirements, you would have to enroll for real estate training in an institution and prepare for your licensing test and clear the exam. Then after you have to complete the formalities to obtain your license. The duration for this ranges from 4 months to 6 months.
The initial real estate training course costs vary and it could range from $200-$1000, then the license exam fee is around $200. Add to it the background verification charges of about $100. This is the minimum expense you would have to bear in order to earn your real estate license. After this, you would have to spend some more to work under a broker as it is a mandatory requirement for new real estate agents to work in a brokerage and further their learning of real estate selling and buying.
This alone should make it clear that for those who are looking to get a quick start in their career and for those who are not inclined to or can not afford to get a college education, the Realtor® career path is a good professional alternative to consider, as new agents can start offering their professional services as soon as they are licensed real estate agent.
Reason 2: Real Estate Business Is Constantly Evolving
A lot of young professionals complain about their jobs becoming repetitive. They do not see much change or room to grow in their professions. That is certainly not true for the real estate business. People are always going to have the need to sell or buy new homes, businesses are always going to need office space, warehouses, storefronts, etc. Therefore a real estate agent is constantly striving to deliver and meet the new expectations of their clients.
Even in terms of technology, the real estate business has grown a lot in the last few decades. Take for instance the surge in popularity of real estate platforms, such as Dorrmat. Platforms like Dorrmat offer tremendous technology-based support to all registered real estate agents. This makes it relatively easy even for even new real estate agents to build a strong base.
Dorrmat offers a wide range of features such as excellent quality seller leads, branded landing page, backend Customer Relationship Management (CRM) tool, option to add vendors, and many more. All these features let a real estate agent offer better services to his clients and enable him to keep ahead in the curve of the real estate market growth.
Reason 3: Multiple Career Options With A Real Estate License
One of the reasons, which almost all of our real estate experts agreed upon was the career scope in the real estate business. Becoming a licensed real estate agent is only the first step. Once you have become a real estate agent and you have put in a few years of work, you will have a better understanding of the real estate business. This greater knowledge about the market, the buyers, and the sellers will help you decide what further course you might like to take in terms of your career.
Although most real estate agents start off as residential real estate agents, you also have the opportunity to become a commercial real estate agent. You can also become a residential or commercial appraiser and make money from offering those services. If you are good with numbers and have studied courses related to that then you can consider becoming a real estate consultant.
Getting a real estate license is only the first step, unlike other professions where you are left to do the same thing for decades, the real estate business offers you multiple verticals you can branch out into once you have got a good understanding of the real estate industry,
Reason 4: Your Clients Will Bring More Real Estate Business
A unique feature of the real estate business is that this is one of those fields where delivering excellent customer service will set off a chain reaction that fetches you more and more business. Unlike other professions where once the transaction has been completed, the clients generally do not have to be catered to again, in the real estate business your satisfied clients become your pillar of professional success.
Most satisfied clients are going to suggest your services as a real estate agent to their friends and family. In many cases, they may even approach you again in a few years when they are looking for selling or buying a house. This ensures that each satisfied client is a future income opportunity. This is the reason why real estate agents are expected to stay in touch with their clients for years.
The trust you have built and the professional expertise you have demonstrated will continue to pay off in each client's case through referrals and future business.
Personal Growth For Real Estate Agents.
Reason 5: You Are Your Own Boss
This is one of the most attractive reasons why many individuals want to become a real estate agent. For many individuals who have a more independent work spirit, the fact that they can be their own boss is one of the major reasons to consider becoming a real estate agent.
It is also suitable for those who prefer to have a certain level of freedom in carrying out their professional duties. As a real estate agent, although you will be working under a broker, you are still your own brand and as such you have the necessary freedom to carry out your real estate transactions. How you choose to market yourself, how you manage your budgets and expenses. What sort of real estate niche you would like to occupy, is decided by you.
Apart from all this, you also get to decide your workday schedule. Now was as a new real estate agent you may choose to work on weekends and at odd times like early or late in the day as per the client requirements.
However, once you have made a name for yourself, you can decide to have a more balanced schedule between work and life. This enables real estate agents to spend more time with their families, pursue other interests and take that vacation at their convenience. Very few other professions offer this sort of flexibility in terms of schedule and major decisions.
Reason 6: The Potential To Good Earn Income
The second biggest draw for most young professionals to become a real estate agent according to our experts is the income potential. As already mentioned the initial cost of entering this profession is comparatively low. So most professionals being with no debt, and as you can start helping people assist with their real estate buying and selling transactions. That means you can start earning pretty immediately.
Although real estate agents are not paid a fixed salary and their earnings are through commissions, research has shown that there are excellent income-earning possibilities. The more hours you put in and the better service you are able to offer your clients will definitely fetch your higher income.
This is a good way for any young professional to begin their career and also enables them to plan their career and life goals.
Reason 7: Faster Career Progress In The Real Estate Business
Another reason on which most of our real estate experts agreed upon was the faster career enhancement that is possible in the real estate business. After working under a broker, a real estate agent can consider becoming a Realtor®. By joining the National Association of Realtors, the real estate agents not only are permitted to use the term Realtor® in their marketing and promotional merchandise, like flyers and posters, but they also get a host of benefits such as wider networking opportunities, access to governmental records and data related to real estate, and opportunities for furthering their learning through Realtor's seminars and business conferences.
After obtaining the Realtors title, in a few years, the real estate agents can decide to opt for obtaining additional qualifications and appearing for further licensing tests to become a broker. Once a broker's license has been obtained the real estate agent has the freedom to work independently. They do not have to share the commission earned from successful sales with their brokerage.
They would also have complete freedom in how they brand themselves, what sort of properties they would want to deal in, and get to choose their own clients. Many entrepreneurial brokers even set up their own brokerage house and establish a successful real estate venture. Such a broker would then hire and train a team of talented new real estate agents to work under the brand of his brokerage. This would open up multiple channels of income for the broker, as he would be receiving a commission split for each transaction being carried out y his team of agents.
Reason 8: Real Estate Business Can Provide Great Retirement Benefits
In all professions, it is vital to plan for the future. It is not enough to work hard and earn well during your growth years. In the real estate business, once you have made a name for yourself, you should consider leveraging that expertise and goodwill. You have made a name for yourself in your client circles and this trust can be cashed in when you wish to retire.
We would advise that you should consider setting up your own brokerage house. This will enable you to gradually take a more managerial and advisory role as your successful real estate business continues to grow and expand. You can even consider setting up a real estate school for future agents, who can benefit from your decades of experience as a real estate agent.
And once you do decide to retire, you can successfully sell your very profitable business ventures to other big players in the market, this would enable you to get a big profit and also a safe income for the later year of your life.
These are some of the known and lesser-known reasons why you should consider a real in real estate estate as a viable professional choice. Our team of experts' advice should help you get a better understanding of the immense potential this field holds for those who are willing to develop the skills and put in the hard work.
A career path as real estate agents is filled with its own share of challenges, but the fact that you get to work with new clients, you get to help people achieve their dream of owning a house, and you work in a market as diverse and exciting as the real estate business makes it much more rewarding than other professions.