Treating Real Estate as a Career
Most people dream of a real estate career as lavish, living the life of luxury and driving a fancy car. Contrary to popular belief it’s not all that it’s cracked up to be, but with hard work and determination a person can make a successful career in helping others realize their dream of home ownership. Purchasing a home is the largest investment that one will usually make within their lifetime, and it takes a special person to bring that dream to life. A realtor.
Once required training is completed and testing has been passed then a person can become a licensed real estate agent. This timeline usually takes a few months to complete, dependent upon individual state regulations. But it’s not just as simple as getting your license and having deals fall into place. An investment of time and money is required to be successful. As well as savvy business planning, a strong work ethic, and money management skills. As an independent contractor you will be able to enjoy the freedom and flexibility of being your own boss. Growing a real estate business takes time. A lead list will have to be built, and knowledge will be learned as you go. Management of day-to-day office tasks and marketing will take up a lot of time. Many newbies fail to realize the amount of work that is required in order to build a successful real estate career.
While the sky is the limit in terms of earning capability, no hourly wage nor salary is made. Your income level is ultimately dictated by the time and effort that you invest in your business. At the beginning of a real estate career, cash-flow may be low as getting your first sale closed may take some time. Living paycheck to paycheck can be difficult and most successful realtors will tell you to put a budget in place in order to better maintain the lifestyle that you are accustomed to. Working strictly for commission can come with its own set of stresses including not having any sick or vacation time, medical insurance, nor a 401(K).
A realtor can set his or her own schedule, for the most part. While it may not always have to be a 9 to 5 job, it does entail additional hours that may be in the evening or on weekends in order to accommodate client schedules or host open houses. Spending time with family and friends is important but often time’s realtors put their client’s needs over the precious time spent with loved ones in order to get a deal done and earn a commission. Real estate can be stressful, not just for the agent but also the client. Often time’s things don’t go as planned, a commission that was counted on might not happen due to a deal falling through because of the loan contingency, home inspection, or other unforeseen issue. Building a lead generation system and referral network can take time (and money). The committed agent can make a successful career and reap the rewards of making many satisfied clients and helping them realize home ownership dreams.
Being a realtor does have its rewards and advantages though. As one can choose which brokerage to work with, set their own schedule and working environment. Helping people to buy and sell homes makes the job of a realtor worthwhile. Real estate success can be made with a little hard work and determination.