How Do I Know If I Should Go Into Real Estate

Are you thinking about getting into real estate? Smart decision! There are so many positives to a career in real estate. And there are also a few things to consider before starting a career in real estate.

Let’s take a look at the positives and the considerations to help you decide if you should go into real estate.

The Positives of a Career in Real Estate

  • You can change careers quickly. Getting your real estate license and launching your new business takes only a few months.

  • There’s no college degree required. No college degree? No problem! You don’t need a degree to become a licensed real estate professional. If you already have a college degree, you can 

  • The costs are comparatively low. Compared to jobs that require an expensive college degree, or starting your own business from scratch in another field, becoming a real estate agent is affordable.

  • You get to be your own boss. You’ll work under a supervising broker, but that broker doesn’t typically get involved in your work processes. You have complete anonymity to control the direction of your business.

  • Flexibility. Real estate is among the most flexible career opportunities available! As a real estate agent, you get to choose how much you work, when you work, and how you work. You could even work real estate as a side hustle along with your day job to earn extra income.  

  • Unlimited income potential. As a real estate agent, your income is tied to the number of sales you make. If you decide to work full time, there’s no limit to the number of sales you can complete and the amount of income you can earn (especially if you get your broker’s license and hire other agents to work under you).

  • You’ll be a respected pillar of your community. Everyone in your area will know you as a respected real estate professional. 

  • Fulfilling work. If you enjoy serving others, real estate can be a very fulfilling career. Every day, you get to help buyers and sellers make one of the most important decisions of their lives.

  • Strong relationships. Do you love interacting with people and building relationships? Then real estate is the career for you. You will spend most of your time working with others, whether you’re helping buyers and sellers, working with other agents to successfully close a deal, or networking with other industry professionals. In fact, since you have control over how you run your business, you could outsource all your administrative work to an assistant so you’re free to focus solely on relationships.

  • Real estate is never boring! The real estate market is always changing. There are always new people to meet, new properties to explore, and new puzzles to solve.

Things to Consider Before Starting a Career in Real Estate

  • There are some upfront fees. You’ll need to take a pre-license real estate course and pay several administrative fees to your state licensing board to get your real estate license. 

  • There will be ongoing expenses. As a real estate agent, you’re effectively a small business owner. So you’ll have some ongoing expenses to run your business. Some of your costs (like office space, utilities, and MLS access) will likely be covered by your broker. But you’ll probably want to invest in on-going marketing campaigns and joining the National Association of REALTORS® to become a REALTOR. You may even want to pay for an assistant as your business grows. 

  • You’ll need to pass a state exam. Real estate exams are difficult. It may take you more than one try to pass your exam. It might even take more than two tries. AceableAgent knows how stressful this exam can be for real estate license applicants. That’s why we include exam prep in our pre-license courses. We want to make sure you’re well-prepared to pass your exam!

  • Being your own boss is a lot of work. Running a business requires dedication. You’ll need to think like a business owner and handle various responsibilities (like finding leads, managing clients, networking, marketing, and doing administrative work). Good time management is critical!

  • Your schedule revolves around your client’s needs. While you get to choose your hours, you’ll make more money if you can be available when your clients need you. This often means working some evenings and weekends. It can also mean dropping everything at a moment’s notice to help your client with a time-sensitive issue. 

  • It can take time to earn your first commission check. As a real estate agent, you get paid on commission. This means you only get paid when a deal closes. Closing your first deal can take time because you need to find your first clients, get your first property under contract, then wait until the end of the 30-60 day escrow period before you collect your first check. Most new agents either 1) have financial support from a family member, 2) have savings they can live on for a few months while they get started, or 3) work real estate part-time until they have enough deals in the pipeline to go full-time.

  • The income starts slow but builds as you gain referrals and repeat business. It will take a little time to build your client base and establish consistent income. But if you follow our plan for your first two years in real estate, you’ll see your income dramatically increase in subsequent years as you gain referrals and repeat clients. 

Take the First Step!

Now that you know all the many positives of a career in real estate, and the few additional considerations, you can make an informed decision about whether you should go into real estate. 

Are you ready to take the first step toward your new career? Enroll in your pre-license real estate course today!

Want to get your Real Estate License? Begin your Pre-Licensing Course today!

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