If you’re looking for a job with regular hours, free weekends and steady income, you can forget about becoming a real estate agent. Because a home is such a huge investment, both buyers and sellers have high expectations of those they rely on to arrange the transaction. It takes an individual who enjoys putting themselves out there and working long hours with different kinds of people. Here’s a quick look at the pros and cons of being a real estate agent.
First of all, you’re your own boss. You can work whatever hours you choose and take any day off that you desire. There’s no time clock to punch and no one expects you to remain at your desk. If you’re not feeling well, you won’t have to ask your doctor for a note to give the boss. You can finally run your errands during the daylight hours, when banks and post offices are actually open.
Another advantage is that you’ll be considered an expert in your field. The average person doesn’t know much about the real estate business and you’ll always be in demand. Your clients will also want to know more about certain neighborhoods and you’ll be able to tell them all about home prices, nearby schools and crime rates in the area.
As a real estate agent, you’re also going to become proficient at skills you might have never associated with the job. If you think you’re in the housing business, think again. You’re really in the “people business,” helping others make important decisions that can affect the rest of their lives. Since real estate sales and purchases are often preceded by deaths, cross-country moves and divorces, you’re likely to find yourself filling several roles. Expect to become a financial adviser, counselor and life coach to people with all sorts of different personalities.
Furthermore, you can make lots of money as a real estate agent. Your earnings aren’t limited by an hourly wage or a predetermined salary. How much you make has everything to do with how much time you invest in each of your clients. If you’d like to earn even more, consider hiring an assistant to take care of your leg work and perform all those menial tasks that take up most of your time. You can also apply for a license to open your own brokerage.
In terms of disadvantages, there’s are some downsides to being your own boss. The expenses you would ordinarily expect your boss to take care of are now yours, whether you make enough to cover them or not. You can count on your brokerage to provide many of the necessary resources, but your office and technology expenses are your responsibility. Your taxes will not be conveniently deducted, either. You’ll have to take care of these matters on your own. Be prepared to create your own office budget.
While there are advantages to being looked up to as an expert in your field, there are also some high expectations to live up to. The slightest error you make can be very costly to your client, who’s counting on you to take care of their life savings. You’ll have to be confident in your abilities, since there will be no one else to rely on. If your client is unhappy with you for any reason, it won’t be long before your professional reputation suffers, affecting your bottom line.
The responsibilities of being a real estate agent can be very stressful, despite all the freedoms. You’ll have to act quickly when problems arise and you may spend entire nights awake worrying about problems with an upcoming deal. Despite it all, your job is to maintain your composure and keep your client from panicking. If you can handle this type of stress, contact manncountrywide.co.uk.
If you’re used to earning a steady paycheck, you’ll have a hard time adjusting to the life of a real estate agent. In a traditional job, you can expect to get paid for each hour you’re on the clock, whether you do anything substantial or not. Real estate agents are paid on commission, so no matter how hard you’re working, your pay depends on making a sale. In order to be successful, you’ll have to constantly work on getting new clients, while keeping your current ones happy.
Ultimately, it’s up to you to decide whether a career in real estate is for you or not. There’s nothing wrong with trying something new, but you also have to consider the implications if it doesn’t work out. Not everyone would make a good real estate agent, but those willing to step out of their comfort zones may consider it a rewarding experience.
Jonathan Rogers has made a good living out of selling property and is keen to share his insights and ideas online about the life of a real estate agent. He is a regular writer for several different lifestyle websites.