When I talk to someone about a career in real estate, I frequently discover that they hold a misguided belief in one (or all) of the following myths.
Real estate is a good career, but allow me to debunk these myths before you quit your day job!
5 Real Estate Myths Debunked
1-A Real Estate Agent Works Flexible Hours
If by flexible, you mean the opportunity to work 7 days a week and evenings, yes, real estate agents have flexible hours!
Home buyers look for property in their free time, which is nights and weekends.
2-A Real Estate Agent Just Shows Houses
Oh pleez! On a typical day, you will
Analyze feedback
Be accountable
Create a marketing campaign
Diagnose the problem
Evaluate comparable market analysis
Find a way
Gauge buyer needs
Host an open house
Investigate a creepy basement
Justify price
Know the competition
Listen
Make an offer and (1) counter and (2) counter (3) and counter
Negotiate everything
Offer a shoulder to cry on
Prepare a listing presentation
Quit while you’re ahead
Recommend lender, landscaper, and lunch spot
Settle a dispute(s)
Take action
Understand
Vote someone off the island
Write a blog post
Xplain multiple offer process
Yodel (only kidding! just checking to see that you’re keeping up!)
Zip here, there, and everywhere
AND show houses
3-A Real Estate Agent is Just a Salesperson
Good agents are good sales people, but they also run their own business. If you don’t know how to manage a business, you will go broke fast.
Agent Inc. includes the following departments: accounting, human resources, sales, marketing, public relations, legal, customer service, tax, and regulatory. Understand them all.
4-A Real Estate Agent Has No Business Expenses
Granted you don’t need a warehouse full of widgets, but you need more than a business card and a car to get started. Below are some typical expenses.
Continuing education and private coaching
Licensing fees, association dues, and insurance
Advertising and marketing expenses
Computer equipment, software, and tech support
Mobile phone
Web site design and maintenance
Office supplies
Monthly fee to Broker
Health insurance premium
AND the car
5-A Real Estate Agent Makes a Lot of Money
Real Estate agents earn a good living or not. See all of the above!
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