A career as a real estate agent can be incredibly rewarding…and for good reason. Agents can enjoy flexible hours and great earning potential in an exciting, fast-paced industry. But before you take the leap into the real estate business, here are four questions you should ask yourself to determine if the job is right for you.
#1 Do I have what it takes to be my own boss?
As a real estate agent, you’re likely to work on straight commission. Such a job requires a unique set of skills in order to be successful. So take an honest assessment of your abilities and character traits. Are you goal- and detail-oriented, organized and diligent? Do you hold yourself accountable? Or are you prone to distraction, lacking in self-motivation and likely to procrastinate? Are you personable? Do you have a customer service mindset? Be honest. If you prefer the structure, hours and predictability that come with a typical office job, real estate may not be right for you. But if you’re ambitious, likeable and ready to do the legwork necessary to achieve success for yourself and your clients, real estate may be a great career change for you. In the end, the harder you work, the more commission you’re likely to earn.
#2 Do I have the savings necessary to support myself as I build my business?
Earning commissions takes time, and real estate agent salaries vary widely depending on their success and the commission they earn through their broker. How long can you live without the assurance of a steady paycheck? Financial stability is paramount when beginning your career in the real estate business. In fact, we often recommend new agents have enough savings in the bank to cover their living expenses for six months. That nest egg will help support you as you build your business, ensuring you can weather the ups and downs that naturally occur for new agents.
#3 Which agency or brokerage do I want to join?
As a new agent, you’ll likely benefit from working with a brokerage, and finding the right fit is essential to your success. There are several factors to consider. Careerrealism.com recommends you look at
Take time to find a firm that has the reputation, experience and ambition that you need and deserve.
#4 Am I fully committed?
If you’re thinking of just testing the waters, real estate may not be right for you. Some people are drawn to the industry when they see an agent experiencing what appears to be easy success. According to Realtormag.com, that’s a common error in perception. Being a successful real estate agent requires a full commitment, with all of the long hours, weekends and laying of groundwork that comes with it.