Imagine working for yourself in a flexible career where
you can set your own schedule with annual earning potential of $100,000 or
more. There are so many reasons to choose real estate as your career. But there
are always two sides to every story, and a real estate career is no different.
Below is a straight-forward look at the pros and cons of a real estate agent
Is a career in real estate right for you?
Pros: In Maine, you can complete the required training,
become a licensed real estate agent, and start a new career in just a matter of
weeks or months.
Cons: There is an investment in time, money and effort
required. Also, it comes with no guarantees. Passing the state real estate
licensing exam is difficult and demands an understanding of complex topics and
a varied skill set.
As a real estate agent, you are your own boss
Pros: You’re an independent contractor and control your
own book of business. You make the decisions. Couple together a good attitude
and solid work ethic, and there are virtually no limits for the growth of your
real estate business.
Cons: You’re an independent contractor, and are on your
own to learn the market and the business.
You are in charge of building your lead list, maintaining your client’s
needs, networking relationships, marketing your business, and managing the
day-to-day office needs. It’s all in your hands. Many new agents fail to
recognize how much work it takes to become a successful real estate agent.
Real estate agents make a good income
Pros: Your income isn’t limited by an hourly wage or a
corporate-dictated salary range. As a real estate salesperson, your income is
largely dictated by the time you invest. Grow your real estate business by
adding an assistant or get the appropriate license that lets you build your own
brokerage. The growth potential is huge.
Cons: At first, your cash-flow direction will be out.
Most new real estate agents need a nest egg to begin their careers. Getting
your first sales to come in will take some time, and it will likely be a couple
months or more before you cash your first check. Depending on the market you
cover and existing relationships you can form, it can be a feast or famine
Real estate agents work flexible schedules
Pros: You don’t work a mundane 9 to 5 job. Real estate
agents set a day-to-day work schedule that works for them. Much of a real
estate agent’s time is spent socializing, meeting people and building
Cons: Having a flexible schedule in real estate means you
have to be flexible to the client’s needs.
In real estate, you tend to work when everyone else is not. That
includes weekends. If a client calls, can you drop everything and be attentive
to their needs, even if it’s a time that you normally would be spending with
your friends or family?
As a real estate agent, you help people with their
Pros: Real estate agents receive genuine satisfaction
from helping clients find the perfect home or sell their property at a great
price. This is an exciting time for both buyers and sellers, and they look to
the real estate agent as the expert to help them manage their way through the
process with excellent client services.
Cons: Real estate transactions generally are one of the
most stressful times of a client’s life, and you will need to be confident in
your skills and abilities when things don’t go as planned. If a client leaves
unhappy, whether it was due to your efforts or not, word-of-mouth spreads
quickly and can affect your referral network and, ultimately, your bottom-line.
Real Estate is a great business
Real estate really is a great career choice. This article
isn’t meant to scare anyone away from real estate, but is offered to be an
honest look at the real estate business from both sides of success and failure.
It can be a very difficult career if the training and work ethic fails, but it
can be a seriously rewarding career if you are self-motivated, hard-working,
honest, and enjoy networking and helping people.
1263 Roosevelt Trail, Raymond, ME 04071