Becoming a Real Estate Agent can be a very rewarding career choice. But it's not for everyone.
This isn't said to scare anyone away from the profession, but it is crucial to understand the real estate business from both sides of its potential for success as well as for failure. It can be a very difficult career without proper training or the right kind of work ethic. But it can be a seriously rewarding career for someone who is self-motivated, hard-working, honest, and enjoys networking with and helping people.
Here are some of the Pros and Cons to consider before delving into a career in Real Estate:
Your income isn’t limited by an hourly wage or a corporate-dictated salary range. As a real estate salesperson, your income is largely dictated by the time you invest. Grow your real estate business by adding an assistant or get the appropriate license that lets you build your own brokerage. The growth potential is huge.
You don’t work a mundane 9 to 5 job. Real estate agents set a day-to-day work schedule that works for them. Much of a real estate agent’s time is spent socializing, meeting people, and building relationships.
At first, your cash-flow will be negative. Most new real estate agents need a nest egg to live off of while beginning their careers. Landing your first sales will take some time, and it will likely be a couple of months or more before you cash your first commission check. Depending on the market you cover and existing relationships you can farm, it can be a feast or famine situation.
Having a flexible schedule in real estate means you have to be flexible to a client’s needs. You tend to work when everyone else is not. That includes weekends. If a client calls, you must drop everything and be attentive to their needs, even if it’s a time that you normally would be spending with your friends or family.