Do you think you have what it takes to be a real estate agent? If you’re reading this article, you’re probably interested in learning more about getting your real estate license and becoming a real estate agent. However, being a real estate agent doesn’t mean you’ll be starring in the next season of Selling Sunset or even make any money at the start.
The cold hard truth is that it’s difficult for new real estate agents to get started without much experience or industry connections. New agents should expect to work for several years in the industry while they build up their client base and real estate portfolio.
Continue reading to learn more about the benefits of being a real estate agent as well as the drawbacks and other things to consider before applying for a real estate license.
Why do you want to be a real estate agent?
Before you make a quick decision to pursue a career in real estate, you should ask yourself why you want to get into real estate. Do you only want to get into real estate for the money? Or maybe you have a friend or family member in real estate and you envy their flexible work schedule. Or sometimes stay-at-home moms want to make a little extra money on the side while the kids are at school. Whatever the reason, real estate can be a great way to reach your goals.
Benefits of being a real estate agent
It’s no surprise that there are plenty of benefits to being a real estate agent. First, real estate agents are their own bosses. While you have a broker who runs the office, it’s up to you to find business and make money as a real estate agent. In many ways, being a real estate agent is like owning your own business and should be treated as such.
Real estate agents also have flexible working hours since their schedule tends to revolve around their clients. Real estate agents need to be available at all times of the day (and night) if their clients want to see a property or meet to put an offer in on a home.
Being a real estate agent means you have unlimited earning potential. In other words, there is no limit to how much money you can make as a real estate agent–the more houses you sell means the more money you make. Start selling expensive homes and your income will start to rise drastically.
Drawbacks of being a real estate agent
While being a real estate agent has plenty of benefits, there are some drawbacks you should consider before diving into real estate as a new agent.
First, real estate agents are paid on 100 percent commission. While this isn’t a problem for experienced agents, new agents who struggle to sell homes will quickly find that they’re putting in a lot of work with no results. However, those that stick with real estate and develop a solid client base will benefit from being on 100 percent commission.
Being a real estate agent comes with plenty of pros and cons. Most people are drawn to the profession due to the flexibility and unlimited earning potential that the job offers. However, new agents will find that real estate can be a difficult industry to succeed in when they’re just starting out.