A comment was made on my blog Considering a real estate career? "11 Questions to Ask Yourself When Considering a Real Estate Career with several questions. I hope through this blog I can give light and aid those looking to becoming a real estate agent.
The Good - The Sky is the Limit!
Real estate is an endless opportunity for growth both personally and professionally. You set your own schedule, you set your goals, you create and build your own business underneath your brokers umbrella. You determine your income and what activities are requited to achieve your goals. The sky truly is the limit.
The Bad, The Ugly - You Are Responsible for Your Own Results - No One Else!
As a real estate agent you are building your own business. You succeed or fail on your own cognizance. The drop out rate in the first year of business is over 70%. There is no wonder why this is. The bad and ugly part of this career rear their ugly head. Many find themselves wandering after completing real estate school and passing their licensing test. They struggle with this new found freedom of not being chained to their desk, open ended hours and stumbling their way through managing their time.
Many new real estate agents believe that their broker will be handing them clients and that it is very easy to sell homes. What most agents do not understand is that they will need to work hard, attend on going training, pick an office with a strong and supportive leader. Real estate agents need to be just as dedicated to their leadership as they are to you. Being a Realtor, is hard work, it takes a commitment to over coming fears, dedication to systems and personal/business development, and determination to achieve goals.
Learning to manage your money, living one commission check to another can be a struggle for many real estate agents. At most real estate companies, you are only paid if you have a closing. I would strongly recommend looking at real estate companies that have business models that will provide you with additional streams of revenue. You also could join a team or mentorship program to accelerate your success and income, this is another highly recommend route.
The hours you invest in your new real estate career can be varied greatly. When many first start their careers in real estate they struggle with the temptations of doing something else other then focusing on building their business and doing what it takes. As a new real estate agent you should be a student of the industry, attending as much training as you can and investing your time to be with those that are succeeding. You can never have to much knowledge and you will never know all there is to know in this industry due to how often it changes. Many new real estate agents believe they can work 9 to 5, Mon - Fri (this does work for a select few.) however most often then not there are many nights and weekends.
When choosing a real estate company, instead of interviewing several offices, new real estate agents tend to go with the one that they recognized most. This can be a grave mistake for a new agent and can be the difference between a successful real estate career or being one of the more then 70% that does not make it. I cannot stress enough about how important it is that a new agent speak to several brokers and consult veteran Realtors about the standard fees and expectations the different brokers in your area command.
The Beauty - You Are Responsible for Your Own Results, You are Your Own Boss - The Sky is the Limit!
The sky truly is the limit, you are your own boss, there is no earnings cap, you chose the niche markets you wish to work and you are in charge of your own time. There is a freedom that comes with this business and you are the driver of this vehicle. Dream big, participate, hold yourself accountable, get out there and you will be successful.
Was this blog helpful? Please, share your comments below. I welcome emails and phone conversations to explore your possibilities in real estate. If you are trying to decide or exploring the possibilities of becoming a real estate agent I would be more then happy to share ideas and answer your questions.
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