Is Real Estate The Right Career For You?
Many people are attracted to the profession of realtor because they believe it brings easy money for them. There is no doubt that successful realtors earn a lot of money, but it is equally valid that their percentage is tiny, and they can make so much cash after having worked hard for many years.
Another category of people taking up the career of real estate is those who are lured by the prospect of flexible working hours and the opportunity of becoming their own boss. They see it as an escape route to get rid of their 9-5 office job and a chance to enjoy free time with their loved ones.
No matter how you look at the profession of a realtor, it is essential to look at yourself first before joining the bandwagon. Are you the right person to become a real estate agent? Let us find out in this article.
Do you have a likable personality?
Being a realtor involves working with not just the clients but also other realtors, brokers, lenders, contractors, and vendors. People who have a likable personality and who get along well with other people are more likely to succeed in this career.
Of course, you can do well even if you are an introvert, but you must learn to be comfortable in dealing with other individuals if you want to succeed as a realtor. You can easily fit in this profession if you are an extrovert and have an outgoing personality.
Are you motivated to be your own boss?
If you are excited about the prospect of being your own boss, real estate is a profession for you. Though most realtors start by working under an experienced realtor in the beginning, they ultimately set up their own independent business. You will enjoy the freedom that comes with being your own boss such as a flexible schedule and hours of work.
However, it also brings added responsibility of managing everything on your own. You must be ready to work according to the schedules and needs of your clients. It would be best if you also made efforts for marketing of your business such as socializing and spending time with prospects, understanding their needs and advising them on real estate decisions.
You must be ready to put in time at odd hours of the day and also weekends if you really want to be successful in this career. If you think you can manage all this, real estate is undoubtedly an excellent career for you.
Earning potential can be high, but you must be patient
There is no question that you can make a lot of money as a real estate agent. Only the sky is the limit for you as far as the money you can earn is concerned, but for that to happen, you need to be patient.
Many new realtors become frustrated when they do not see any money coming their way in the first 6-8 months of working as a real estate agent. To sustain as a realtor, you must be prepared to spend money from your own savings account in the initial period of the first few months.
If you think you can be patient and willing to work hard, this is undoubtedly a right career for you.
Do you have excellent communication skills?
Excellent communication skills are a significant prerequisite for being a real estate agent. You will find yourself talking directly to not just your clients but also the contractors, investors, lenders, brokers, and lawyers.
Your ability to develop strong and meaningful relationships with others will play a crucial role in ensuring your success as a real estate agent. Having a helpful personality and an attitude of gratitude will be very helpful in making you a favorite realtor.
You will be required to build contacts and maintain relationships with all your past, and present clients as most of the business in this profession come through referrals. This is possible only when you have excellent communications skills.
If you are a good listener and pay attention to the needs and requirements of your clients, you will be able to earn their trust and confidence.
Are you prepared to work hard?
Most people think there is easy money to be had by working as a realtor. Yes, you can earn a lot of money eventually but to get to that stage, you must work hard to develop your reputation as a knowledgeable, honest, and reliable realtor.
It takes time to build a positive image for yourself, and you must be ready to work hard. However, once you establish yourself as an experienced and reliable realtor, you will find that you start to get work easily through your referrals.
Do you enjoy marketing?
An important question to ask yourself is whether you love challenges or not. Of course, your knowledge of real estate is essential, but you will find that this profession throws new challenges at you now and then.
You must use your resources and your network of realtors and other professionals to overcome these challenges. Real estate is going to be an excellent career for you if you are not bothered by new problems and willing to take them in your stride.
Do you love challenges?
An important question to ask yourself is whether you love challenges or not. Of course, your knowledge of real estate is essential, but you will find that this profession throws new challenges at you now and then.
You must use your resources and your network of realtors and other professionals to overcome these challenges. Real estate is going to be an excellent career for you if you are not bothered by new problems and willing to take them in your stride.