A career in real estate may be appropriate for you if you want to work for yourself and control your schedule while making $100,000 or more per year. While there are several benefits to selecting real estate as a profession, certain aspects of the job do not appeal to everyone. We’ve outlined the benefits and drawbacks of a real estate job, including real estate agents’ earnings, schedules, career prospects, leadership changes, and more.
Being An Agent Is Quick and Painless
Real Estate Careers: The Pros
In most areas, you can complete the required real estate courses, become a licensed real estate agent, and start your new job within a few weeks or months (depending on state regulations). Courses and final tests and studying for the licensure exam usually take months to complete, depending on where you live. Once you pass the licensing exam, your license will be activated. As a real estate agent, you can work for yourself or a brokerage. However, working with a brokerage is the best way to test your abilities and grow your customer base if you’re just starting. To your knowledge, certain brokerages provide additional training so that you may discover how they function.
Real Estate Careers: The Cons
Starting a career in real estate requires a significant investment of time, money, and effort. Furthermore, it is a career with no promises. It takes a diverse skill set and an awareness of complicated topics to pass your state’s real estate license test. The training and testing are costly, and you will need to devote a significant amount of time to studying.
Several wonderful basic courses start at approximately $35 if you want to test the waters in the real estate sector. In Minnesota, for example, the test costs $65, and the license costs $100. In California, the exam costs $60, and the license costs $200.
As a Real Estate Agent, You Become Your Boss.
Being Your Boss: The Pros
Being your boss as a real estate agent entails gathering, submitting, and filing paperwork and lease agreements, as well as developing and monitoring a yearly budget. You are the one who makes the decisions. You will be an independent contractor and have authority over your book of business if you choose a career in real estate. When you combine a positive mindset with a strong work ethic, the potential for your real estate firm to expand is nearly limitless.
Being Your Boss: The Cons
You are an independent contractor as a real estate agent, and you are responsible for learning the real estate market and managing your business. You’re in charge of generating leads, keeping track of your customers’ demands, networking, promoting your real estate firm, and managing the day-to-day office operations. Everything is under your control. Unfortunately, many new agents underestimate the effort required to become a successful real estate agent.
Real Estate Agents Make a Good Income
Real Estate Agent Salary/Income: The Pros
Your income as a real estate salesman is mostly determined by the amount of time you invest. A real estate agent’s earnings are not constrained by an hourly wage or a compensation range set by a company. You can expand your real estate business by hiring an assistant or obtaining the necessary licenses to open your agency.
Every profession has its ups and downs: according to Forbes magazine’s Andrew DePierto, an established real estate agency made an average of $41,200 a year in 2019. However, demand for relocation was also relatively low in 2019. The housing market did not take off until the epidemic’s impacts had faded. According to Indeed, as of March 2021, the average established realtor’s pay was $86,000. Learn more about the earnings of a real estate agent.
Real Estate Agent Salary/Income: The Cons
Your cash-flow direction will be off at first. Most new real estate salespeople require a financial cushion to begin their professions. It will take some time for your initial sales to come in, and it will most likely be a few months or longer before you cash your first check. Depending on the industry you cover and established relationships you can get into, it may be a feast or famine situation.
Let us know in the comments if you think that this job is made for you…