There’s a common perception that real estate always equates to easy money. However, what’s usually being left out in those conversations is the bulk of preparation and work that is associated on every real estate transaction. In fact, in a lot of cases, the job of a real estate agent doesn’t simply stop because a property has been sold. So, if you’re looking for the usual weekday workweek, weekend-offs, and stable income, then this industry might catch you off-guard as it definitely has the tendency to push one’s limits.
Being on your own vs. being in control
In real estate, you need to quickly learn how to carry yourself within the industry. After all, you are your independent contractor, and for the most part of your career, you’re going to be in-charge of learning the ins and outs of the industry. This is why many newbies end up being overwhelmed early on, because of the pressure that comes in setting up a competent profile, while also learning the ropes on the fly. Though, it shouldn’t often be the case, since applicants will all need to pass a state-regulated exam before they’re given a license to operate within that state.
Traditionally, taking the exam means spending a significant portion of your time on accredited on-site learning centers. Nowadays, students can take real estate pre-license training online at their own pace and convenience, which is a perfect option for those who are transitioning to real estate.
Ultimately, being an agent will teach you a lot about your innate ability to work independently. You will be the one who will have to make your lead list, maintain your client’s needs, network, market, and manage the entirety of your real estate business. You are your own boss, the one who will make decisions, and with hard work, should eventually have complete control over your personal income and cash flow.
Having flexibility vs. not having a steady income
A real estate agent won’t have to answer to recurring schedule and fix routines. You’ll have more authority to mix things up and shift your focus whenever you see fit. Having more control of your schedule will also allow you to branch out and put small investments on side projects and other business opportunities.
On the flip side, agents will have to be open-minded about working on weekends to accommodate requests. Also, being in the real estate industry means that you will not have the fix income or pay schedule that you can rely on every month. Thus, you’ll have to manage your cash flow much better and more efficiently. Learning to do so can be a big hurdle onset, however, once you get things going, it’ll be much easier to get a good grasp on how to manage assets more efficiently.
Do you still think that a real estate career is right for you? If so, check out some of the pre-licensing requirements that your state might ask from you before you can become a licensed real estate professional.