Choosing a career path is no easy feat with so many different avenues out there today. The world of real estate has since time immemorial drawn in loads of eager young professionals wanting to be part of this dynamic and ever evolving industry. The real estate world offers many different career paths for those looking for a stimulating and exciting career, whether it is real estate development, real estate agents or brokerage, construction, architecture, design and much, much more.
One of the most popular career paths in the real estate sphere is that of becoming a real estate agent or opening a real estate agency or brokerage. Although the flexibility of being a pro real estate agent appeals to many a career hunter, it is not a viable choice for everyone. There are many things you need to consider when deciding if this could be right for you.
Let us take a quick look at certain aspects that could make or break your this very important life decision –
There is no real routine
If you are looking for a job that has a regular 9 to 5 routine for the day or love the comfort of a stable and regular professional routine, being a real estate agent is definitely not for you. One of the most inherent characteristics of this profession is that it is flexible yet very very fast. You need to be on your feet when ever and whenever you get a good lead and do the necessary work to close the deal and be the first one to get there. You will have to go view properties and meet potential buyers and sellers as well as do so at all odd hours as per their convenience. Make sure this is something you can handle.
There is usually no fixed pay
Most real estate agents work purely on commission basis. If you depend on or prefer a regular monthly pay cheque, this is not a viable option for you. You will have to work hard to make your commission and when you hit it big you can really make a bundle. But there are no guarantees where cash flow in concerned. It is definitely something you could do part time instead, but if you are looking to change career paths and go into real estate full time, make sure you have savings and financial cover to last you a few months of basic expenses.
You have to keep yourself abreast of the latest – Knowing the real estate market like the palm of your hand is a must to be a successful real estate agent whether you deal with commercial properties or residential real estate in NYC. You have to keep yourself up to date on the current news, property values, future projections and more. Clients are always more impressed with and trust someone who knows the industry well and can guide them to make better decisions.
You will need to be a good communicator – This is definitely not a profession for the wall-flowers who shy away from a lot of client interaction. Not only do you have to work with sellers and then potential buyers but also do a lot of scouting and follow up work. Good communication will be key as will a get-goer and take charge attitude to make sure you can close your deal successfully.
Becoming a real estate agent requires some forethought and planning since it is not a conventional office or desk job you will be opting for. Before you decide to go in for it full time, try and work with an agency or under a mentor for a while.