If you’ve ever bought a house, moved house, or rented a house, chances are you’ll have had a conversation about real estate agents. Conversations about real estate agents are often filled with expletives that vent frustrations about an agent’s fees, attitude towards budgetary requirements and tendency to be generous with the terms ‘spacious’ and ‘bright’.
And yet, real estate agents are the backbone of the property industry; indeed, even those who have nothing but bad things to say about real estate agents would probably still continue to use them.
The profession continues to attract young and bright individuals determined to make their fortunes in the exciting, glamorous and expansive realm of real estate – but if you’re looking to become a real estate agent as a career, there are a couple of things you need to know.
It’s expensive to get started. The truth is that you can’t walk into real estate and become a millionaire overnight. It takes training, and training takes time and money. To become licensed, you should expect to pay fees and undergo all sorts of testing to prove that you’re qualified. You’ll also need to be prepared to pay these fees every year and to commit to attending ongoing education courses to make sure you stay knowledgeable and informed about your industry.
You can say goodbye to your weekends. Whether you’re working in lettings or sales, you’ll be meeting people who have full time jobs and need to conduct any property searches out of hours. Not only will you need to work hard, you’ll also need to work long hours – after-work inspections, Saturday open houses and Sunday paperwork are all part of the job. You can always say no to a client, but realistically you’re risking losing a lot of money, so more than likely you’ll opt for telling your friends you’re going to be late instead.
You might as well weld your cell phone to your ear. Really. Your phone number is going to be everywhere – all over brochures, websites and magazines and that’s before you’ve even started handing out your card. People sometimes have a very different sense of an appropriate time to call so you’ll constantly be on your phone. The division between personal and work life is particularly difficult to draw when you know that every phone call could be worth thousands of dollars.
You might find you’re not as much of a ‘people’ person as you thought. Whether you’re selling to someone who’s just gotten on the property ladder, letting for a landlord or finding a renter a place to live, the nature of the gig is that you’re dealing with people who are making changes in their lives. This can be stressful, and when there’s a lot at stake – which there frequently is – it can bring out the darker aspects of someone’s personality. You’ll need to be adept at dealing with a multitude of personalities and being tactful and diplomatic in your approach.
You’ll have uncapped earnings potential, set your own schedule and push yourself further than you ever thought possible. Whilst all of the above is true, so is this. People get into real estate because they want to earn lots of money in a fast-paced, dynamic and challenging environment. You’ll only be limited by your desire to succeed and how hard you’re willing to work. You’ll meet many, many people, learn to cope with difficult situations and maybe, if you’re really lucky, become one of those real estate agents everyone loves to hate.