Many people are interested in working in real estate because it is a comparatively easy position to achieve. Plus, you get a lot of perks. That said, it takes a lot of work to build your career. Here’s everything you need to know to decide if you should work in this industry.
People will always need real estate agents to help them buy and sell houses. However, while this job will remain important, the job outlook does not predict tremendous growth in the number of agents.
Once you’re licensed, you get to help buy and sell properties. That means you’ll likely be on your feet doing tours of properties. You may also find yourself hiking through the woods on vacant land.
Being an agent is going to demand a lot of administrative duties. Industry experts, like Stefan Soloviev, warn that you could spend a lot of time behind a desk. For example, you’ll work with documents, organize meetings, create promotional materials, use an electronic records system, create a budget, develop marketing strategies, build your client database, research comps, communicate with clients, and update your website.
If you want to be successful, you need to find clients. Without buyers or sellers, you don’t get a commission. That’s why you’ll spend a lot of time generating leads through your business associates, classmates, neighbors, friends, family, and others.
You’ll also spend a portion of your days working with buyers, sellers, and renters. This portion of your job may extend beyond the typical 9 to 5. In other words, you may be sacrificing time with your family and friends to help your clients. You may cancel your plans to help someone at the last minute.
While there are a lot of responsibilities, once you have your license from your state commission, you get a lot of perks. For starters, you generally get to set your hours. You can also earn large commissions and meet a variety of people.
Since there’s no national real estate license, you must get one from your state. You can find the requirements for your state on the licensing body’s website.
You will probably not earn a salary. Instead, you will be able to charge a percentage of each transaction, known as your commission.
If none of this information has scared you off, you would probably be able to work in the real estate industry. After all, it could be a fun way to make a decent living.