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.