Considering a career in real estate? If you have the right personality and work ethic, it can be a fantastic career path. Check out some of the pros and cons.
Money
The Good: Real estate can be a great industry for making money. In a “typical” job, you’re stuck with the same wage or salary until you get a raise. But for real estate agents, you get out what you put in – meaning your income cap is basically limitless.
The Bad: For new agents, bringing in the bacon can take some time. Some experts say it could be six months to a year before you see your first commission check. You’ll also have to spend some money to get started (licensing exams, training, marketing expenses, etc.). In addition, the industry isn’t always at a steady keel. As the housing market goes up and down, so do sales and commissions – which means you need to be prepared for ebbs and flows. And like we said above: What you get out is what you put in … so if you aren’t a self-starter, this industry is not for you!
Flexibility
The Good: In real estate, you create your own business – which gives you the flexibility to make your own schedule. Real estate isn’t a 9-5 desk job! You can set your own hours, and you can usually work from anywhere, meaning your business can keep operating while you’re on vacation.
The Bad: While you can be flexible with your schedule, that doesn’t always mean your clients can. If you want to build up a good business, you’ll have to make yourself available when clients are – which can mean late nights, weekends and some holidays.
People
The Good: With networking, events and clients, real estate gives you the opportunity to meet so many different types of people – some of whom become friends! This career also gives you the opportunity to really help people take a big step in their lives by purchasing a home.
The Bad: Adapting to personality types can sometimes be cumbersome, for both clients and other agents. Buying and selling homes is emotional for most people, and not everyone knows how to separate emotions from business. If you don’t like confrontation and can’t keep a level head, real estate might not be the best career path for you.
Control
The Good: As an independent contractor/business owner, the decisions for your business are made by … you! If you’re the type of person who prefers to work for his or herself, real estate could be a career to consider. (To note: Many agents work as part of a team or a brokerage, so you may share decision-making or be subject to some regulations through the larger firm.)
The Bad: While you’ll have control over business operations, there are plenty of things within real estate that you won’t have control over, like if a deal works out or not. Sometimes agents have to take the blame for things that are outside of our control, and we’re often the first to have fingers pointed at when a problem happens. A level head and thick skin are key to this business!
Fun
Finally, if you’re passionate about real estate, it’s fun! (Notice there’s no “bad” section here!) We get to see some awesome homes (and even the not-so-awesome ones are often really interesting to tour). We get to see parts of the city that we never would have been exposed or introduced to. And we get to use Instagram and Facebook as actual business tools!
If you have the right skills, personality and work ethic, a career in real estate can be fruitful, rewarding and incredibly fun. Interested in joining our team? Let’s grab some coffee and chat!