Getting into the housing market can be extremely profitable. Savvy real estate investors can generate tremendous returns and the multifaceted nature of the industry offers a lot of career options for ambitious individuals. One such career option is becoming a real estate agent. In fact, this career path has been gaining popularity for years now. But why become a real estate agent in the first place? Is real estate a good career? And do real estate agents make good money? Keep reading as we answer these questions and reveal whether or not a real estate agent career is right for you.
What Does a Real Estate Agent Do?
Before answering the question of whether or not pursuing a real estate agent career is the right path for you, we must first discuss what being a real estate agent entails. Let’s take a look at some of the tasks that a real estate broker or agent is expected to perform.
1- Working with sellers
Real estate agents who choose to work with sellers are known as listing agents. When handling real estate sales, the agent will have to accompany the seller throughout the entire process. This includes everything from coming up with a marketing strategy to determining a reasonable asking price through comparative market analysis. As the seller’s representative, you are tasked with getting your client the best possible deal at the soonest possible date.
2- Working with homebuyers and real estate investors
On the opposite end of the transaction, buying agents help real estate investors acquire the ideal income property or homebuyers find their dream homes. Much like listing agents, the ultimate goal of buying agents is to secure a perfect and timely deal for their clients. When working with buyers, you will have to showcase the ability to conduct proper real estate market research as well as thorough investment property analysis. Furthermore, negotiation skills are paramount in getting the client a competitive price.
Learn More: What Does a Real Estate Agent Do Exactly?
3- Managing the business
A real estate agent career does not exclusively revolve around working with clients. In fact, a significant chunk of the agent’s time is spent running their real estate business. This includes a myriad of tasks and responsibilities such as lead generation, real estate lead qualification, marketing, researching recent trends, networking with peers, filing paperwork, etc.
Related: 20 Proven Real Estate Lead Generation Strategies for 2019
Now that you are familiar with the basic tasks of real estate agents, let’s examine if it is indeed a good career choice for you.
Is Real Estate a Good Career in 2020?
So why is real estate a good career? Determining whether or not a career is good requires identifying certain variables. This usually includes things like job outlook, level of income, and the conditions of the work itself. Let’s delve into what a real estate agent career has to offer.
1- A real estate agent career allows you to set a flexible work schedule
A flexible work schedule is something that most of us strive for. Not being tied to a strict 9-5 daily routine leaves you ample time to pursue other interests and spend time with people you care about. This is one of the main perks of being a real estate agent. The fact that you are your own boss gives you the luxury to set your schedules and work at your own convenience. Moreover, a real estate agent career allows you to take time off whenever you see fit. This is crucial for unwinding and breaking the monotony of work.
2- It gives you the possibility to make a lot of money
Related: How Much Do Real Estate Agents Make?
3- It’s less stressful than a regular job
Being a salaried employee comes with a high level of stress. Whether it is dealing with a difficult boss, problematic colleagues, or tight deadlines, the constant stress of a 9-5 job can leave you mentally drained. Real estate agents, on the other hand, enjoy a much more relaxed work atmosphere. While operating a real estate business does come with its own set of inconveniences, working as an independent contractor gives you full control over your work environment and allows you to set your own goals and expectations.
4- Real estate agents will still be relevant for years to come
Pursuing a real estate agent career still offers a lot of growth potential. Despite widespread panic over automation, real estate careers will always rely on several key human skills. Agents who identify emerging trends and successfully adapt to them stand to carve out a large chunk of the market in the coming years.
5- It has a low barrier to entry
A low barrier to entry has both pros and cons. On the negative side, it results in very high competition in the market. On the other hand, a career that is easy to get off the ground is ideal for ambitious individuals who lack the resources to start other high-growth businesses. Embarking on a real estate agent career merely requires legal US residency, a few hours of pre-license education, and the passing of a real estate license exam. After becoming a licensed agent, your success will depend solely on your level of hard work and dedication.
Should You Pursue a Real Estate Agent Career? The Verdict
As you can see from the points above, being a real estate agent is a good career. The flexibility, freedom, and earning potential that a real estate agent career offers you makes it more than worth your while. As long as you commit to hard work and prioritize your clients’ needs at all times, there are no limits to the success that you can achieve in the industry.
To learn more about starting a career in real estate, visit Mashvisor’s blog.