While being a real estate agent is a highly rewarding career, getting a license doesn’t require as much training as other professions. Perks include offering flexible hours, having the opportunity to work with people from all walks of life and even having the chance to make a lot of money. Unfortunately, success isn’t simple to achieve in the field. While the rewards you’ll reap are great, a lot of patience is required in order to get there. Here are a few pros and cons to being a real estate agent.
Pro: Unlimited Potential For Money
One of the best parts about being a realtor is the money, with realtors making 25% more than practically every other profession in the country. This shows just how much potential there is to make a large amount of money in the field. Having a large set of business skills and the resolve to put the time in where needed can set you up for success and allow you to make as much money as you dream of making.
Con: No Income Saftey Net
Unlike most professions, realtors receive a salary from the organization they represent. Instead, they’re more of an independent contractor or freelancer. The amount of money you make as a realtor usually depends on the number of transactions you complete each month, as well as the size of the sales you make. If you have a few slower weeks, you’ll likely lose out a little bit on your overall earnings for that year. At the beginning of being a realtor, you may not see a large paycheck for a while, and it’s often wise to set up a savings fund for times where you don’t make as much as you’d hope to make.
Pro: Build Your Own Schedule
One of the greatest perks of being in real estate is the ability to set your own hours. Being in real estate often means that you’re your own boss and can move your schedule around freely to make sure you can be present at other important things in your life, such as your kid’s sporting event. Unlike most jobs, there’s no clocking in and out at the start and end of each day, because the day starts and ends when you want it to.
Con: You’ll Likely Have To Work Extra
While not having a set schedule can be great, you may also have to put more hours in at times when you wouldn’t normally have to. Realtors are often asked to work outside the typical 9 – 5 hours that most professions go by, especially because client meetings occur on weekends or weekday evenings. So while you may be able to take time off on a weekday afternoon for a special event, you may have to work on the weekends when the other people in your life typically have off.
Pro: Career Mobility
Climbing up the corporate ladder can be a struggle. Every field has its own growth process, with some being much more difficult than others. Realtors often get to be their own boss and if they stick with it they can possibly begin calling some of their own shots. Some successful realtors even end up opening their own real estate business!
Con: There’s Still A Ceiling
Even with all of that career mobility, a ceiling is likely inevitable. Options for realtors typically involve continuing to operate in direct sales, managing a group of realtors for an organization, or starting their own business in the field. If none of these seem like attractive career goals for you, being a realtor might not be the best option in the end.