Consider these pros and cons to help you decide whether real estate is right for you.
| Pro #1: Achieving Freedom Pro #2: Feeling Responsible Pro #3: Being Respected Pro #4: Excitement | Con #1: Having Nothing to Do Con #2: Doing the Wrong Things Con #3: Weird Working Hours Con #4: Irregular Income |
Pro #1
Achieving Freedom
When top agents are asked what they like best about the real estate business, most of them will rank “freedom and independence” as a top benefit, with money often taking second place. The freedom and independence that comes with earning your own earned commissions is priceless!
Pro #2
Feeling Responsible
As a real estate agent, you will often give advice to clients about their most valuable asset - whether it’s their home, a recreation property, or an investment property. You’ll be drafting contracts for clients, and working on transactions involving large sums of money. Corporate or institutional employees might work for years before they are given that much responsibility, if ever at all.
Pro #3
Being Respected
When you arrive at a social event, the room won’t go silent because the real estate agent has arrived. However, you will be in a respected profession, where clients will value your ability to help them make important decisions.
Pro #4
Excitement
There are few things as satisfying as helping buyers find a new home or investment property, or helping sellers sell their property. Not just because you’ll earn a substantial income, but also because helping your clients will be a satisfying reward in itself. If you like variety, rest assured that no two days will be the same. You’ll feel a sense of purpose, instead of just showing up for a job.
Are you feeling encouraged about a career in real estate?
If so, let’s look at some possible challenges.
Con #1
Having Nothing to Do
The dark side of freedom is inactivity
If you are accustomed to a boss setting your goals, defining your tasks, and demanding certain working hours, then you’ll have to learn to replace that new boss with your own self-management. You will need to design your own business plan, and have the discipline and courage to invest your time and energy into following it.
Con #2
Doing the Wrong Things
The drawback of responsibility is the risk of making mistakes
As a real estate agent, you will probably be working under little or no direct supervision. (You wanted to be independent, remember?) Even if you have a coach, mentor, or an attentive manager or broker, you will have plenty of opportunities to make mistakes. However, your real estate education can help you avoid these mistakes. Our pre-license courses will help you prepare for your real estate career, and our continuing education courses will help you throughout your career.
Con #3
Weird Working Hours
The downside of a non-routine schedule can mean irregular working hours
A typical residential real estate agent’s work week might include:
- Hosting an open house on a Sunday afternoon
- Working with buyers when they get off work in the evening
- Presenting an offer to your sellers, as soon as you receive it from a buyer’s agent
The good news is, you control your schedule. It feels a lot different when you decide to work unusual hours than when a boss asks you to work after-hours.
Con #4
Irregular Income
The flip side of high income potential is low income potential.
If you’re used to regular paychecks, you will have to adjust to a commission-only lifestyle. As with any business, that includes saving or investing during high-earning months, and budgeting expenses during lower-earning months.
Want to learn more and get started?
Click on your state below to learn more about the real estate licensing process, requirements, and how to enroll in online real estate pre-license courses.
