Owning a Business

By
Managing Real Estate Broker with Beringer Realty

A Real Estate agent is an independent contractor is a Business Owner.  That means that the success of the business is the responsiblity of the agent.  it means long hours and focused effort if there is to be a profit.  It also means that systems and plans and budgets should be in place and used to keep the business growth on track.

A lot of people get into real estate because they can make a lot of money, have a flexible schedule, and be their own boss.  They enjoy not having anyone tell them what to do.  They enjoy a schedule that allows for nail appointments and tee times whenever they feel like it.  And, then, they wonder why they are not making the money they had hoped for.

Real Estate is one of the best ways to become a business owner.  It is relatively inexpensive to get into the business.  There are lots of options for broker relationships that will fit needs of managing expenses.  There are tools and classes and information galore to the interested and inquisitive agent.  But, bottom line, you have to work if you are going to make money.

If you bought a restaurant or a shoe store to become a business owner, you would probably initially expect to put 60-90 hours a week into making it a success.  And the profit margin of that business would probably be significantly less than what you can make as a real estate agent.  If you want to make money with a real estate business, you have to put the time in.  You have to make the phone calls, contact the potential clients, learn the inventory, hone the skills, memorize the scipts, mail the flyers, sit the open houses, tolerate the rejections, understand the market, and develop the discipline and systems to place your business in a spot that it can make you money.  Then.....and only then....will you enjoy the flexiblity and freedom that owning your own profitable business affords. 

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