People have a lot of preconceived notions about real estate. One of the biggest misconceptions is that making it as a real estate agent is easy. All new agents will tell you that couldn’t be farther from the truth.
Real estate isn’t for the faint of heart. It isn’t for someone that needs the path laid for them. It’s for people that want to be their own boss and forge their own path. It’s for people that want no limitations on what they can earn and accomplish.
Here’s the truth about being in real estate and what it takes to get through the first year.
You Can’t Be Afraid of Hard Work and Hustling
Your real estate career will live or die by the effort you put into it. Hustling (as in making it work no matter what, not pulling a fast one on people) comes with the territory. And no real estate agent makes it through their first few years without an unbelieveable amount of hard work.
One look at a real estate agent’s weekly schedule will tell you that they’re hustling every day to help clients find homes, market their listings and cultivate new leads. They also have to keep up with continuing education, handle paperwork and orchestrate a lot of schedules to get to the closing table.
Ready to hustle and work hard for a career that will reflect your efforts? Then start taking the required real estate courses and researching brokers.
You Must Be the Master of Your Own Fate
Real estate is a natural career path for self-starters. The people who had lemonade stands as kids and consistently sold the most candy for the school fundraiser are the type who tend to hit the ground running as a realtor.
That’s not to say introverts and silent partners can’t have a fantastic real estate career. As long as you have a desire to be the master of your own fate, real estate will have an innate appeal. If having more control over your schedule and income are the top priorities, then that’s a strong start.
You Have to Accept the Risk That Comes Before the Reward
Getting into the real estate business is risky. Before you can even call yourself a real estate agent you have to invest in real estate courses, pay application fees and cover the cost of licensure.
You won’t get your first close for at least a few months unless the stars align. If the idea of not getting a steady paycheck makes you sweat, the first year is going to be a struggle. But as soon as you build up a network and start cashing commission checks, the allure of a salaried position wanes.
The risk of not getting a regular paycheck can be mitigated by making smart financial moves. Ask other seasoned agents how they got through the first few months or year. Having a beginner’s nest egg always helps. You may also want to put a portion of each commission check into a savings account for lean months.
We each manage risk in our own way. People who accept that real estate is a riskier career path compared to many professions are mentally prepared to capitalize on the rewards and get through the lulls. With big risk can come big reward - realistic realtors are ready for both.