Top 5 Reasons Why People Work in Real Estate
Working as a real estate agent has always been a very popular career choice. More and more individuals are joining the real estate industry and getting licensed. In many housing markets, there are more realtors than the number of real estate transactions taking place in a year.
Also, the profession that was once dominated by men is now spearheaded by women. It is seen as a lucrative career where anyone can join without any educational qualifications and hope to earn a decent income. Here are the top 5 reasons why people work in real estate.
Freedom from the boring 9 to 5 office job
This is a big attraction for those who hate going to a physical office every day and spending many hours sitting behind a desk. Thousands of men and women doing clerical jobs feel they are wasting their life, sitting in offices as they only get a nominal income that is insufficient to live a lifestyle they dream about.
A career in real estate allows them to realize their dreams without asking them to be confined to a physical office daily. They love the flexible schedule that they can enjoy after becoming a realtor. They know that without the restriction of an office, they spend more of their time with family and friends. They can work whenever they want rather than being in an office all day long.
In an office job, the employee has no choice but to come to the office every day, five days a week. You must spend time every morning to get ready and commute to the same workplace day after day… after day. This isn’t the case when you’re a real estate agent. Every day is an adventure. Every day will be different.
You are the boss
A vast majority of those who decide to switch careers to become a realtor are those who are fed up with being monitored continuously and reprimanded by their superiors. If you are doing an office job, you will have someone who works as your boss. Most people remain frustrated with not just the rules and regulations imposed upon them in the office but also with the attitude of their bosses. But they have no option as they must earn a livelihood. As the saying goes, “people don’t quit the company; they leave the manager.”
The profession of a realtor gives them the option to break free from the chains of their office and their bosses. They can hope to become their own bosses by working as a realtor. Many people begin as a hobby realtor and later give up their office jobs when they are reasonably sure of earning a decent income from this profession. Of course, there is a learning curve involved with this profession, but the good thing about being a realtor is that one can continue with his job during this phase.
For those who hate to work under a boss, a career in real estate is like a dream. There is no one to find fault with your style of working or your decisions, and you are free to call the shots.
Low barriers to entry
One of the biggest attractions for people considering a career in real estate is its relatively low barrier to entry. You need not have a particular degree to become a realtor. Even someone who is not a graduate can hope to become a realtor after obtaining the necessary license from his state authorities. It doesn’t matter whether if you have a degree in liberal arts or have a science background as the profession of a realtor does not demand knowledge in any subject.
Anyone irrespective of his age and gender can do a course required by his state government and then pass a state and national board exam to obtain the necessary license to work as a realtor. Of course, you need to work under a brokerage to get some experience, but there aren’t many other professions that give you the most bang for your buck in terms of qualifications. It is no wonder then to see large numbers of middle-aged adults, including housewives, choosing real estate as a career option for themselves.
Opportunity to earn an attractive income
Salary from an average office job is not enough to allow an individual to provide for a typical family. Realtors earn a fat commission on real estate transactions that is around 5-6% of the total value of the property being sold or purchased. Though this commission is equally divided among realtors of both parties, a realtor whether he is forming the side of the buyer or seller can hope to earn an attractive income from this career.
If you can conduct just one real estate transaction valued $250,000 in a month and assume a commission of 2.5% on every transaction, you can hope to earn nearly $75,000 per year. This is much higher than the income of any ordinary man or woman doing an office job. This is much less than the income levels of highly successful realtors who are earning annual incomes in 6 and even seven figures.
The sky is the limit as far as your income earning potential as a realtor is concerned. You can make as much as you want, provided you are willing to put in the hard work and effort that is required.
Meeting new people and challenges every day
Large numbers of men and women are attracted to the profession as a realtor because it gives them a chance to meet new people daily. This profession is very attractive for those who have an outgoing personality and those who love to meet and interact with other people. If you become bored and frustrated with seeing and interacting with the same set of people in your office daily, it is high time you switch careers and become a realtor.
This career also offers new challenges as every new real estate transaction has its own unique features and conditions. Many people who like to face new challenges at work place are attracted to real estate because of this aspect.