Real Estate Careers: What You Need to Know About Becoming a Realtor

The majority of real estate agents struggle on their meagre sales commission. While the perception is to look successful and like they’re rolling in dough (and some of them really are) the median salary for a real estate agent is only $46,000.

If the salary is generally so low, why do people seek real estate careers? The thing about real estate is that it’s much more than just sales. It’s a whole game.

If you’re thinking about going into the property business, there are plenty of reasons to jump right in. They might not be the reasons you’d suspect. Here are some facts about a career in real estate.

1. You Need to Be a People Person

Unlike most freelance careers, you can’t just sit behind a computer and sell your product. You have to get on well with people and be willing to meet with them face to face.

If you’re not a people person, don’t choose to be a real estate agent.

Recommendations and referrals are more successful than advertising so you need to work on your networking so you’re referred whenever someone you know is asked if they can recommend an estate agent.

Your reputation comes from your relationships and who you associate with, i.e. choose your company wisely.

2. Not Your Typical 9-5 Job

As an estate agent you need to do the hard work in getting property listings and the company you are with can help recommend potential purchasers.
Even if you’re connected to a firm, you’re essentially running your own business. Running a business is like being married except your spouse never leaves your side.

You should spend at least 20 hours a week on marketing if you want to be successful. That’s as many hours as a part-time job.

Add in hours spent leading clients around and working on their paperwork/negotiations, you’ll be pushing more than 40 hour weeks. Being an agent really does mean being a business owner.

3. Don’t Count Commission Before Closing or You’ll Be Sorry

When you get a contract you’ll be extremely excited. Your payday is coming soon and all that hard work will pay off. Just don’t start counting your money just yet.

From the time you start the process to closing, anything can happen. You could even get embroiled in a court case between buyer and seller. These things happen and they affect your final pay.

If everything goes right, you’ll collect your commission. And remember, you’re responsible for collecting your own commission, so look for tools like MyCommission to collect your money.

Real Estate Careers: The Upside

It might seem like we’re discouraging you from going into real estate. This couldn’t be farther from the truth. Real estate careers are incredibly fun.

You have to be in it for more than the money. You need to want to help people find or sell a home. This has to be your passion.

If you’re ready to jump into a career, begin studying property trends right here.