Real estate can be a great career, but it is not as easy as it looks to become successful. In my last article I talked about the reasons why you should become a real estate agent. Before I get into the reasons of why you shouldn’t become a realtor I want to go over the reasons why you should. First and foremost, the harder you work the more money you are going to make. Not only can you make a lot of money but there is no limit to how much money you can make. Another reason why you should become a real estate agent is that you can create your own schedule. With a flexible schedule you are able to sleep in when you need to, and go home to watch a basketball game during March Madness. I will get to the reasons why a flexible schedule is not always good a little later. One final reason that you should become a real estate agent is because you can have a major impact on a lot of people.
If you like meeting the needs of your peers then this may be the right profession for you. However, before you decide to jump right in, let me explain to you the reasons why you should think twice about becoming a realtor.
The main reason why you should stay away from real estate is because it is usually based solely on commission. That means that if you don’t sell anything, you don’t make anything. I was naïve when getting into the real estate profession about how expensive it was. I did not realize there were realtor fees every year, nor was I aware of how expensive it was to get a license. You also need to consider the amount of money you will spend in technology. For example you are going to want a good computer that you can bring with you at all times. Also, your cell phone bill is going to be higher than you wanted because people will be contacting you at all times. Really the most expensive part of real estate is the advertising. There are many different methods for advertising but they all seem to be expensive. Just letting all your friends and family know that you are in the business is expensive. If you are looking for a steady pay check, this is not the profession to get into.
There are always going to be great times and at times it will be terrible. However, the longer you work in real estate the more likely you will see a consistency in pay checks. The second reason you should stay out of real estate is because of the amount of time you need to work to become successful. Not only will you be working a lot, but you will also work Saturdays and even Sundays to do open houses. You need to let your family know that you are not always going to be able to have dinner with them, because often times you are asked to show homes in the evenings once your clients have finished their work day. Now you do have the ability to say no on a showing or two, but it is hard to pass up when you know how much money can be on the line.
The third reason is that it can be very uncomfortable. Real estate requires a lot of prospecting which means you will need to leave your comfort zone. How willing are you going to be to knock on the next door, when the last person you met laughed at you? I have been laughed at more than once while going door to door and it can be very humbling. Are you willing to call For Sale By Owners? Do you have the drive to stand in front of a crowd to deliver a presentation about your company? I am not the most outgoing person, but to be successful in this challenging business you need to get your self out there, and understand that they are often saying no to what you are selling and not to you personally.
I believe that real estate can be a fun and exciting career. I can not imagine going back to an 8:00am-5:00am job because I have too much fun in this profession. However, before you jump into real estate please consider what you are getting your self into.