Have you ever thought about working for yourself – being able to set your own hours and have virtually unlimited earning potential? If you have then you might want to consider becoming a real estate agent.
The median earning the potential of a real estate agent is between $55k-100k annually with the potential for much more. However, while there are plusses to becoming a real estate agent, there are plenty of negatives as well.
In this article, I will discuss some pros and some cons to becoming an agent in real estate so you can consider this career option this thoughtfully.
Table of Contents
Pros To Starting A Career As A Real Estate Agent
Let’s start out looking at the plusses of a career in real estate.
It’s Easy To Get Started In a Career As A Real Estate Agent
Depending on the state that you live in you can get whatever required training is needed, take your test and get licensed for your new career as a real estate agent within a matter of weeks or months.
A Career As A Real Estate Agent Is Lucrative
Because you work for yourself and control your book of business, your income isn’t constrained by salary or hourly wage.
The amount goes income you earn is directly proportional to the amount of time and effort you put in.
Your income is even scalable – you can add assistants or start your own firm exponentially increasing your earning potential.
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You Have A Flexible Schedule With A Career As A Real Estate Agent
This is no 9-5 job – you work as you need to and as it fits into your schedule.
One of the perks of your job is the amount of networking you get to do – this means that opportunities for earning exist around every corner.
Cons To Starting A Career As A Real Estate Agent
Now that we have looked at the perks of being a real estate agent, let’s inject some reality into our rosy picture.
Getting Started In A Real Estate Career Requires Sacrifice
In order to get licensed to sell real estate you have to invest time money and significant effort.
There are no guarantees either that the time and money you spent will pay off.
Real estate license tests are comprehensive and difficult requiring you to master a complex set of skills and topics.
With A Career In Real Estate, Your Income Is Variable
When starting a career in real estate expect your cash flow to be non-existent.
You most likely will want to have some money saved up to take you through the initial dry period while you get your client base built up, make connections and learn the market.
You should realistically plan on not seeing money from your real estate business for several months.
Also, Read: Email Marketing Tips For Real Estate Agents
Your Schedule Is The Client’s Schedule
Yes, as a real estate agent you get to work flexible hours but this means you are being flexible with your client’s needs.
Real estate agents work when people aren’t – like weekends.
You have to be willing to drop what you are doing and be focused on your clients – even if it disrupts your plans.
A Career As A Real Estate Agent – Good And Bad
A career as a real estate agent can be highly rewarding and earn you a lot of money.
However, a real estate agent has to be willing to put in a lot of long hours and hard work.
Careful consider your willingness to put in the time, effort and work required to be successful in a career as a real estate agent.
Check your state’s real estate license requirements and do your homework.
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