If you’ve been thinking of changing careers and earning your real estate license, there are a few things you should know before taking the leap:
1. You Decide How Successful You Are
That’s right! You will get out of a real estate career exactly what you put into it. This is a career that rewards hard work. Your income potential as a real estate agent is basically unlimited. But it goes both ways…part-time effort will likely lead to part-time pay.
2. You’re Going to Need a Plan
When newly licensed real estate agents fail, it’s usually because they didn’t think about that period of time between passing their exam and cashing their first commission
check. You need to set goals, as well as develop a business plan and marketing plan.
3. You Should Have a Small Nest Egg
The period of time between earning a license and getting a commission check is not a set amount of time. You’re going to need to be able to cover the costs of your day-to-day life, as well as business startup costs.
4. You’re Going to Be the Boss Now
If you’re used to the typical company structure with a boss telling you what you’re responsible for, this can sometimes be a shock. The broker you work for will likely keep an eye on how you’re performing. But for the most part, it’s up to you. You need to be disciplined enough to take control of your career and make the most of your time.
5. You May Have to Work Some Weekends
If you are planning to work in residential real estate sales, you will likely need to dedicate at least a portion of your weekend to work. People shop for homes in their free time. And their free time is typically on nights and weekends. As a result, buyers and sellers expect their real estate agent to be available for showings, open houses, and office visits on the weekend.
6. You Need to Set Yourself Apart
So what are you going to do to set yourself apart from someone’s neighbor, brother, or best friend from college? The most successful real estate agents know the value of differentiation. You need to develop a brand that sets you apart from the rest of the market.
7. Real Estate Is an Incredibly Rewarding Career
It isn’t easy, and it is incredibly competitive. There also isn’t a guaranteed weekly paycheck. But all of these challenges are what make real estate such a rewarding career. The rewards are worth it.
Source: Kaplan Real Estate Education