If you are considering a career as a Real Estate Agent, there are some things you should know and think about before taking the plunge. There is a common misconception that becoming a licensed Real Estate Agent is like being given the keys to the U.S. Mint. Nothing could be further from the truth. You can earn big, but it's hard work and there are lots of expenses and fees along the way.
What Motivates You To Become A Real Estate Agent?
Let's begin with your motivation and qualifications for becoming an agent. If you want to make money, it's there to be made. If you're looking for a way to dig yourself out of a financial hole in a hurry, this isn't it. The big payday for most new agents will be a long way off and you shouldn't expect any earnings whatsoever for three to six months.
Real estate is a people driven business. If you love working with people and making new friends you may be onto something with real estate. To make it in this business you need to be able to see into what people are saying even if they aren't saying it - read between the lines. You also need to take what people say into consideration and with a grain of salt as buying and selling homes can be intensely emotional for many people. You gotta stand in there with them, and be able to keep your eyes and ears forward to keep things moving.
Are You A Natural Born Energizer Salesperson?
You have to be a terrific Salesperson! If you are not a natural born Seller, decent conversationalist and self-starter who makes Donald Trump look lazy; you will not earn big money as a Realtor. You have to be smart, tough, good with math and have a knack for understanding complicated paperwork. You also have to have startup money and plenty of patience.
Real Estate Investing Might An Alternative
Selling Real Estate is about getting out there. If you prefer to spend time in front of your computer, try real estate investing. You do not need a license and can make a great deal more money. What you do need is a good knowledge of your local Real Estate market and an ability to close deals that will provide good returns. It's all about flipping properties and avoiding the rental money pits that sucker in many novice investors.
Talk To Active Agents Before You Start Your Career
Before you make a decision to become a Realtor, talk to licensed agents out in the field. Consider what they say about their start up time, earnings, brokers and how friendly or unfriendly the local market is to agents. Many areas simply cannot support the number of Brokers and Agents trying to eke out a living there.
Benefits Of A Real Estate Career
One last thing to look at when considering becoming a real estate agent is the benefits of a real estate career. Some of these benefits include:
- an extremely flexible work schedule,
- high payout paydays when your clients buy or sell a home,
- a lot friends – clients – colleagues to keep you company
- the ability to conduct your work from virtually anywhere as long as you have a phone,
- learn about your local real estate market to find good deals that you can participate in to further beef up your paycheck, and it’s even better if you have Internet access
- essentially owning your own business.
With all this said, if you have the time, the money reserves to carry you for at least 6 months, the sales and business skills, the energy, and you like the benefits then a real estate career could be just what you are looking for.
Article by Bill Knell. Bill is a family guy with eclectic interests, a wealth of knowledge and experience. Bill also excels in the area of personal, business and financial advice and management. He has been featured in the Wall Street Journal, Omni, the L.A. Times, Toronto Star and the NY Times. He's written hundreds of articles on a wide variety of subjects and several books. A popular Speaker, Bill Knell presents seminars on a number of topics that entertain, train and teach. Bill can be reached through BillKnell.com.
