Is A Career In Real Estate Right For You? The Pros & Cons Of Being An Agent
As we continue to stay and work from home, you may be feeling less motivated to get up and "go" to work everyday. Along with everything going on in the world, you may be questioning what you really want to do in life.
Whether you’ve been considering a career in real estate for a while or the idea doesn't sound too bad, just know a career in real estate is not for everyone. Just like any job, there are pros and cons to being a real estate agent. Keep reading to find out if this could be the right career choice for you.
Getting started in Real Estate
In most states to become a real estate agent all you'll need to do is complete your state’s required training, be 18 years of age or older, and have a high school diploma or equivalent. Here are the steps to take to become an agent in Indiana.
You do have to invest your time and money in the beginning. The real estate licensing exam is by no means easy, so you do have to set aside time to prepare and study.
You are your own boss
For the most part you work alone. You close your own deals and make your own decisions. Yes, you will most likely have a team to back you up and learn from, but ultimately you get to make the last call and control how much effort you put into your business.
If you’re someone who is not self-motivated, this may be more of a challenge for you. You'll need to learn the ins and outs of the market, how to reach out to clients, and how to market yourself, just for starters. The real estate industry can be very competitive, so if you don’t want to put your name out there and put in the work, it will be a tough career.
You don’t have to work 9-5 Monday through Friday if you don't want to! In fact, you can create your own schedule as a real estate agent. This doesn’t mean you’ll only work 20 hours a week, it just means you won’t have to work during “normal” business hours.
Because you don’t have to work 9-5 every day, you’ll most likely be working lots of nights and weekends. When you’re working with clients and showing houses, you’ll have to be available for them, and since they are usually busy during "normal" business hours, you’ll have to be extra flexible and adjust your schedule to fit theirs.
Your income is not dictated by an hourly wage or salary. If you put in the work, you’ll see results. A commissions based income allows for tons of opportunity. The limit is up to you on how much you want to make!
While the money can be good, your income is not stable. A really good month could be followed by one of the worst months ever. A lot of times, this is out of your control (2020 has been one heck of a year!), so having security in your paycheck every week is non-existent. You'll also need to be extra organized with your budget and expenses so when tax season comes around, you're not scrambling around or even paying out of pocket if you didn't set aside enough money for your taxes.
You help people make huge life decisions
If you genuinely enjoy helping people, you will thrive as an agent. Buying and selling real estate is no easy decision and is a huge investment for most people. You have to be passionate about helping others through these challenging decisions. If you do it right, your clients will be grateful for you (and will probably send you tons of referrals)!
Buying or selling a home is a very stressful experience. It can be very emotional for homeowners when they go to buy or sell their first home and can cause extreme financial stress. Without a doubt, you will be put in some tough situations. If this is something you can’t handle, this may not be the career for you.
With all that being said, there are pros and cons to every job. If you think the pros outweigh the cons, then you should consider starting a career in real estate. With all the stress it can bring, it is one of the most rewarding careers you can have. Take it from us - we love what we do!