How Is It Being A Real Estate Agent?

Have you ever imagined what it would be like to work as a real estate agent? If so, we will take a look at the pros and cons of nearly every aspect related to being real estate agent, including:

• Ease of Entry
• Self-Employment
• Earning Potential
• Schedule Flexibility
• Job Satisfaction

Ease of Entry

Pros:

• The process of becoming a real estate agent requires little time and training. In most states, the average time for training can be as low as 24 certified hours of (Massachusetts), while most states require around 60 hours.
• Real estate agents do not need to have a college education or attend a trade school to start making money. Instead, anyone with the determination and free time can become a real estate agent in a matter of weeks or months.

Cons:

• For full-time workers with a limited amount of free time, finding the time to consistently complete training can be difficult to do consistently.
• Passing the real estate licensing exam can be difficult for many people, requiring the understanding of complex topics that are state-specific.
• Exams can be expensive for those with limited incomes. For example, a licensing exam costs $60 exam fee and $245 licensing fee in California.

  Self-Employment

Pros:

• Real estate agents are independent contractors, which enables individuals to make their own decisions on how many hours and how much money they want to make.
• Due to the self-starter nature of the business, upward mobility is possible in a short amount of time. Most real estate agents can become real estate brokers and certified realtors in 3 years.
• Besides the office administrative staff, there are virtually no coworkers to deal with - a great benefit for those that do not like working with others.

Cons:

• The flipside of being an independent contractor is that there is very little structure or career paths for real estate agents. For those that lack motivation, being a real estate agent can be a challenge.
• Agents are responsible for nearly every aspect of their business. This includes building a list of leads, addressing all of the needs of your clients, constant networking, marketing your business, and managing day-to-day demands in and out of the office.

Earning Potential

Pros:

• A real estate agents income is virtually unlimited. Instead of relying on an hourly wage or hoping for a salary increase, a real estate agent in directly correlated with the amount of time that you invest in your busines. For self-starters, this is a godsend.
• As your business grows, you can hire a time of assistants to exponentiate your earnings and handle the grunt work.
• If you choose to pursue a career as an agent, you can choose to become a real estate broker to add a steady salary and a cut of other agents’ commissions to your take-home pay.

Cons:

• Because there are no financial guarantees besides commission for new agents, it’s important to have money saved up beforehand.
• Getting the first sale is often the hardest, as inexperience in the selling process can take some time before you’ll see any profits from your work.

Schedule Flexibility

Pros:

• Instead of fixed hours, like a 9 to 5 job, real estate agents get to work on their own schedule. This is especially helpful for those with young families or dependents that need constant supervision.

Cons:

• The other side of a flexible schedule in real estate is that you still have to accommodate clients that are ready to buy and sell. Considering most people work Monday through Friday, real estate agents may have to work weekends and other times when people are normally off.

Job Satisfaction

Pros:

• Real estate agents provide real value helping clients find their dream home or assisting sellers to close their homes at a great price.
• Real estate is exciting, as you’re playing a pivotal role in your community to meet your clients’ needs and desires on a regular basis.

Cons:

• Conversely, there’s a lot that can go wrong in real estate transactions, so real estate agents have to be constantly aware of any difficulties ahead of time.
• Stress is high during home sales, so it’s important to have a thick skin and handle a client’s demands.
• If your work is negatively appraised by your clients, you may develop a negative reputation via word of mouth that can affect your referral network and may jeopardize your long-term career prospects.