A career in real estate is very flexible; meaning that you work for yourself, with flexible working hours and schedule, with potential annual earnings of more than $100,000. Honestly, there are many reasons to choose real estate as a carrier. However, just like anything else, it has another side to it (its limitations). Let’s dive in straight into its benefits and limitations as well.
Real Estate Start-Up (It Is Quick And Painless)
The Benefit: Becoming a real estate agent is very easy. To complete your training and to become licensed, and starting your career will take you only a few weeks or a few months. The process differs from state to state.
The Limitation: You must invest your time, money, and effort. Furthermore, this career does not come with any guarantees. Also, real estate licensing examinations are difficult and demands you to understand complex topics and different skillset.
You Are Your Own Boss
The Benefits: Being a real estate agent means that you are an independent contractor. This means that you control your books and in charge of everything. Virtually, you have no limits in terms of growth, work ethics, and attitude.
Limitation: Because you are independent, you have to teach yourself how to learn the market and business as well. You build your own leads and maintain your own list of clients. Everything about the business is in your hands. A majority of new real estate agents fail to recognize the work it takes to be successful in the field.
There Is A Good Income In Real Estate
Benefits: A real estate agent’s income is not limited by either corporate-directed salary range or hourly rates; the income is largely based on the time they invest working. Furthermore, growth potential is very high, especially when you add an assistant, or get appropriate licenses to build your own brokerage firm.
Limitations: As one begins this career path, the direction of cash-flow is never there. As such, a real estate agent will have to depend on something else to survive. Remember, it takes time to get in your first sales, which may take a few months. Depending on the current market cover and your existing relationships and connections, it can either be a famine or feast situation for you.
Benefits: With this career, you do not have to work through the mandated working hours of 9 to 5. Property agents have flexible working hours which means that set their own daily schedules that work for them. A majority of an agent’s time is spent socializing, building relationships, and meeting new people.
Limitations: The only limitation for having a flexible schedule is; you have to conform to your client’s schedule and needs. What does this mean? Well, it simply means that you work when others are not working. Therefore, it may include weekends and even holidays. When a client calls you, you drop everything to attend to their needs, even times when you normally spend with your family.
You Help People With Their Largest Transactions
Benefits: A real estate gets genuine satisfaction when their client find the perfect home or simply sell their property at an attractive price. When all parties are happy, the real estate agent prides themselves for the excellent customer service they have offered.
Limitation: Real estate transactions are stressful to the client, and it is a time when the agent must be confident with their skills and abilities. When things do not go to plan, or when the client is left unhappy; it does not matter the effort you placed to ensure everything goes smoothly, your referral rate or network will collapse. Which means it will affect your income and client list.
Real estate is truly a great business and a good career choice. The goal of this article is not to scare you, but simply inform you. This is why we have included the good and the bad. It can be really rewarding if you work hard and maintain top-rated business ethics, self-motivated, honesty, and look for connections. Remember, this is like starting a business, and just like any other business, it may fail or become successful. It all lies with you and how you will conduct your business. If truly you are serious, then surely you will succeed.
An infographic detailing why you’d want to hire a real estate agent when selling or purchasing real estate.
After learning about the importance of hiring a realtor, you’ll definitely want to reconsider how you go about the process of selling your house.
1: List At The Right Place – Reasons To Use A Real Estate Agent
One of the main advantages of realtors is that they have a better grasp of the real estate market. A realtor is basically able to list the house at the right price. Compared to listing the property yourself, you have better chances of success with an agent. Online methods of getting home estimates such as Zillow, in most cases, are usually inaccurate. Realtors ensure that the pricing is done correctly.
2: Better Home Presentations – Reasons To Use A Real Estate Agent
Home presentations are crucial now more than ever. Realtors have a lot of experience in staging homes, and they ensure that the presentations are seamless. In the current real estate market, how you present your home has a huge impact on its potential to attract buyers.
3: Get More Buyer Exposure – Reasons To Use A Real Estate Agent
You have to put into consideration the fact that buyers often make use of agents in order to find out which properties are on sale. Therefore, houses that are listed by an agent will get the most exposure. This means that if you list with an agent, your house will definitely get more showings and offers than it would if you were listing yourself.
4: Higher Offers From Buyers – Reasons To Use A Real Estate Agent
When you list with an agent, you are bound to get better offers. This is due to the fact that an agent gives you more buyer exposure and maintains professionalism in all aspects of the buying process. An experienced realtor has a huge influence on the offers you get from buyers.
5: Negotiates Inspection Results – Reasons To Use A Real Estate Agent
Homebuyers’ inspection can affect the sale of your house. You’d want to have an expert on your side to handle issues arising from the process, and that what you get with a real estate agent.
6: Speeds Up Time To Close – Reasons To Use A Real Estate Agent
The closing process encompasses a lot of paperwork and procedures. Since real estate agents handle this paperwork on a daily basis, they know ways to complete the process faster.
7: Home Sells At Top Value – Reasons To Use A Real Estate Agent
A realtor essentially enables you to fetch the best prices for your home. If the above tips resonated with you, then you’ll love this. In order to help you stay ahead of the competition, we’ve compiled a list of 200 Real Estate Marketing ideas.
Once you are prepared to sell or buy your house, the to-dos and decisions you need to make appear to snowball: finding a realtor, narrowing down neighborhoods, evaluating the housing market, getting your finances in order, etc. There are numerous advantages that come with working with a professional real estate agent – along with some important financial and legal details that you need to be aware of.
If you are a buyer
Why should you work with a real estate agent? A professional realtor can guide you through the whole process and have access to the multiple listings directory to help you narrow your choices down. A good real estate agent:
Is familiar with recent selling trends and the local real estate market. Is well informed about common concerns of buyers such as public transportation, tax rates, and schools.
Is experienced with the kids of services that home buyers need.
In tuned into buyer needs and tastes in new properties.
Can easily explain mortgage and real estate terms and also technical processes like the steps involved in loan approvals and financial requirements for your down payment.
If you are a seller
Often this requires your agent to do more work – from setting your home’s sale price, marketing it in print and online, running opening houses, and talking to prospective buyers and negotiating all aspects of a sale. If order to sell your house as quickly as possible at a good price, you need to have a real estate agent who can successfully:
Evaluate your local market effectively to help you get the right listing price set.
Advise you how to stage your home and best prepare it for viewings.
Coordinate the preparation of all necessary documents and forms and review them.
Make arrangements for photographs and create engaging and compelling advertising material.
Place ads consistently on MLS (Multiple Listing Service).
Hold open houses and coordinate showings of your house.
Manage the evaluation, coordination, and negotiation of bids and offers.
Strategize all of the requests that are made while the house is in escrow (e.g. reduce the sales price due to necessary repairs found in the inspection process).
Coordinate, plan and attend the closing on the house.
How to find a good realtor
It takes a combination of solid business knowledge, technical expertise, and good personal communication skills to be a successful realtor. So whether you are a seller or buyer, if you are wondering what characteristics to look for in a Realtor, the following set of qualities is a great guide for you to use:
The person works in the real estate business full-time – you don’t want a part-timer or dabbler.
Is a person of integrity and has a great reputation within the local community and has good connections with other real estate professionals and those in related fields.
Has a strong sales history.
Licensed by the state, which means the agent meets minimum levels of testing, training, and education. When you hire a “broker” (a person who oversees regular agents) you will have someone who has undergone even more education.
Belongs to a professional trade association like the National Association of Realtors (NAR), which means the agent has access to market information, listings, and other data that nonmembers might not be able to get.
Has undergone additional training and has other credentials (look on their business cards for initials. The NAR, for example, has credentials like Certified Residential Specialist (CRS) or Graduate Realtors Institute (GRI).
How to select a realtor who will work with you and for you
There are numerous benefits to working with a realtor. They can save you lots of headaches, money, and time throughout the entire process.
However, along with their industry accreditations and business skills, you also want to have a real estate agent fort lauderdale who:
Answers your questions, listens carefully to what your needs are, addresses your concerns, and provides you with all the pros ad cons.
Keeps you updated about any issues or changes consistently as they arise during the whole time that you work together.
Keeps your best interests in mind at all times and advocates on your behalf successfully while working with another party.