Whether you’re starting your first career path or even looking for a career change, real estate might be your first option, as it’s a simple and profitable business with great potential. But just like any other career, real estate has its disadvantages as well, coming with large investments, complicated schedules, and plenty of added responsibilities. To help you decide whether a career in real estate is a good choice for you, here is a closer look at the requirements, as well as potential benefits and drawbacks of this job:
Opportunity for high salaries
A career in real estate is generally considered to be quite a profitable one. However, the earnings are rarely immediate and will likely depend on the amount of effort and work you put in. As commissions tend to be paid at the very end of transactions, many experts believe it could take around six months to a year for novices to receive their first commissions. This means that starting a career in real estate will not only require patience and tolerance, but also a significant amount of savings and investments during the early period, in order to build a more advanced and profitable career.
Potential for flexible hours
Whether you work for an established company or decide to become a freelance agent, a career in real estate will likely come with flexible working hours. You will have the opportunity to create your own schedule in most cases, being able to easily move any responsibilities around in order to accommodate your current needs. That being said, many of your clients will likely be confined to stricter working hours, meaning you will have to adjust to their schedules in an effort to do good business. In turn, this could often leave you working afternoon and night shifts, weekends, and even holidays in some cases.
Minimal educational requirements
While acquiring proper licenses is essential for a career in real estate, you don’t necessarily need a university degree in order to become a successful agent. For instance, you could also opt for a work-based two-year real estate traineeship that you can complete both online and in a traditional classroom setting. Here, you will be able to learn everything from administrative processes and leasing procedures to selling and marketing aspects, receiving a diploma after completion that will qualify you for a necessary license and allow you to become a brilliant real estate agent.
Duties of a real estate agent
Even though a career in real estate can often seem simple and glamorous, only involving showings of beautiful houses and closing valuable deals, the truth is that real estate agents have a variety of duties, some involving interpersonal skills, others relating to traditional office tasks. For example, an agent might need to organize and file documents, schedule appointments, construct yearly and quarterly budgets, create and expand client databases, research and compare listings, develop marketing plans, or even update websites and social media pages as part of their regular, everyday duties.
Being able to help other people
For altruistic individuals, the helping aspect of working in real estate can be quite interesting. As many of your clients will be buying their first houses, choosing their dream homes, or even downsizing due to retirement, you will be able to make their wishes come true during important periods in life. However, these moments often tend to be particularly emotional as well, meaning you might also need great people skills in order to prevent buyers’ remorse and conduct more successful business.
While a career in real estate might be challenging, it can also be incredibly profitable and successful with enough patience, preparation, and perseverance. Even if these aspects aren’t natural to your character, a real estate career can still be a good choice for you with the right attitude and effort.