For The Love Of Real Estate
Maybe you’re working on getting your license; perhaps you are wondering about a transition from your current work to a new career; possibly you are already an agent who is helping others embark on a new journey. Wherever you are, it’s a perfect time to look at all the reasons to fall in love with real estate, and we think you’ll identify with at least a few of them. And, if you want to know more about becoming an agent, check out Rookie Real Estate Agent: Launch a Limitless Career That Lasts.
1. Low Cost of Entry
Since being an agent means being self-employed, you’ll want to have some savings to get you through the first few months while you build your pipeline and work on closing your first transactions. Otherwise, it’s one of the least expensive self-employment opportunities there is.
The cost to become an agent varies by state, but it is typically around $1,500 for pre-exam education, exam fees, license fees, and a sales agent application. Compare this to CPAs, who are usually required to hold a bachelor’s degree as well as take the CPA exam, which can cost up to $5,000; attorneys, who enter their field having easily paid more than $100,000 on education, exams, and licensing; or even franchise owners of the world’s largest coffee chain, who can spend more than $300,00 to start.
Beyond the $1,500, you’ll need a car, mobile phone and a laptop, as well as a few lockboxes and a yard sign or two eventually. Most agents recoup their investment with their first closing.
2. No Financial Ceiling
For most people working a nine to five job, income is fixed. Aside from the occasional bonus or overtime pay, what you earn each paycheck is determined in advance by your employer. You have limited control over your financial situation.
In real estate, there is no ceiling to your earning potential. If you do the right things at the right time often enough, you will be rewarded. The better you perform, the better your pay. The flip side of this is that you actually have to build the right habits and systems and follow through on the activities needed to reach your goals. You will get out of the job what you put into it, and the only person who can determine what you put into it is you.
3. Freedom to Choose Your Path
Real estate is a choose-your-own-adventure kind of career. You have specialized skills that you’ve developed throughout your life that you can apply to your work as an agent. The paths blazed by successful agents are as varied as their backgrounds before real estate. A former teacher might lean on their ability to explain the complicated, while a one-time bartender probably uses their service mindset and gift of gab. But successful agents also have social and professional networks, local real estate knowledge, and much more.
It’s important to find out what you like to do and what you are good at doing. Go outside of your comfort zone, but remember where your true power lies. What works for one agent will not necessarily work for you. While there are tools and systems that every agent should practice in order to become successful, figuring out your strengths and taking action is key.
4. Flexibility to Set Your Own Schedule
The idea of working for yourself and setting your own hours draws a lot of people to real estate. You have the freedom to decide what you’ll spend time on and what kind of time you’ll spend on the job. But what many people fail to realize is that you can’t choose to spend no time on the job. If you choose limited hours, you will need to be more focused during the time you commit.
A good way to stay on track is by building habits around your schedule and using a 411 to determine your top priorities for the week. As The ONE Thing asks, what’s the one thing you can do such that by doing it everything else will be easier or unnecessary?
5. Inside Opportunity to Invest
As an agent, you know everything about a property before anyone else does. You understand how value is created in an asset class that has built wealth for countless millionaires. Many of the best investment opportunities first passed through an agent’s hands. Savvy agents understand that every property listing also poses the option for personal investment.
6. You Get to Help People With Their Greatest Asset Purchase
You are not just a transaction liaison. You are helping people purchase or sell what is often their most valuable asset. It impacts their lifestyle, shelter, security, and retirement. You guide people toward the biggest purchase of their lives, a place to settle into, and a place to call home.
The average net worth of someone who rents their home is a little more than $10,000. The average net worth of a homeowner is almost $400,000. An agent is the person who makes all of this possible. You can relieve pain points and make people’s dreams come true.
Whatever your reasoning for becoming a real estate agent or helping someone else realize their dreams of getting licensed, there’s no doubt that passion and love for the job help any agent remember why they got started and keep them achieving their goals. Happy Valentine’s Day to all those who love real estate!
What are some reasons you love your career as an agent? Let us know on our Facebook page. And don’t forget to subscribe to our newsletter for more exciting articles.