Some people thrive with a career that ensures they will have steady, weekly incomes. Other careers like to have a bit more freedom and are less concerned with a regular paycheck and more concerned with loving what they do. For the latter, a career in the real estate business might be the perfect option, it offers so many benefits to those who don’t want to work at a traditional nine-to-five job. But, as with everything in life, there are pros and cons to consider before getting into this line of work.
If you have been considering a career in real estate, it’s time to do your research and learn both the up and the down sides of the business — here are a few.
Picking the Real Estate Brokerage you want to work with
- A locally owned and operated brokerage is always the heavy favorite when picking through all of the brokerages. The locally owned brokerage, is local and the income the brokerage earns stays in the local economy, thus supporting other local businesses in the community you live and work in. Your sphere of influence is mostly local and they will appreciate your business, just as you will appreciate theirs. Out of the area brokerages, are just that, out.
- Interview with all of the brokerages, not just one. Look at all of them closely, keeping an eye on the costs to do business with them. They all are different. You need to understand the difference between each of them.
- Make a decision and get it in writing!
Setting Your Own Hours
The good: If you have ever dreamed of being able to set your own hours and not be tied down to a desk all day long, real estate may just be the ideal career choice for you. I especially like this aspect of the profession. It offers flexibility and freedom so you can do things your own way. This is appealing to many people, especially those who tend to be free spirits and don’t thrive in a typical nine-to-five setting.
The bad: Just because you have the freedom to set your own hours, it doesn’t mean that you are going to have a lot of spare time. You may in fact find your self very busy, even more busy that you could of imagined. In fact, you could end up working at some pretty strange hours and working more hours than you would if you had a traditional office job.
Wearing Multiple Hats
The good: As a realtor, you will be taking on a lot of jobs and wearing many different hats. This means that your work is never going to get boring. One minute, you might be working as a financial coach, the next, a babysitter or a life coach. You will basically be filling the needs of your clients in order to make buying a their dream home easy for them.
The bad: You will likely find yourself in many positions where you have to think on your feet. Sometimes, you might feel like a chicken with its head cut off, trying to take care of all of the things that your clients need. They need you and your knowledge. There are a lot of issues that can arise in real estate, and many of them are completely unforeseen.
Providing for your family, real estate commissions.
The good: When the real estate markets are good, agents can earn a very comfortable income. If you are really good at what you do, you will have cash on hand, live in a nice home, drive the nicest cars, etc. If that is what you want. Others will build savings. The world will be at your finger tips because you will have the income to be able to do most of the things you have always dreamed of doing without having to worry about whether or not you can actually afford it.
The bad: When the real estate markets are down, there aren’t as many opportunities to make money. You might start to feel like you are working for nothing. This is why it is so important to save some of the money you make when the markets are good — to help supplement you during the lean times.
The real estate career path certainly isn’t for everybody, so it’s worth thinking long and hard about what you value most in a career and what you hope to ultimately get out of it. Now that you know some of the pros and cons, you will hopefully be able to make an informed decision. If you are interested in a Real Estate Career and want to work with the locally owned real estate brokerage, just send us a message and we will get right back to you.