2020 has been some kind of year. And it may have you thinking, “Should I become a real estate agent in 2021?”
The answer is a resounding YES but with an asterisk. Let’s be honest. Not everyone’s cut out for a career in real estate. Some people start off strong but fizzle out quickly once they realize that real estate isn’t a reality TV show. It’s good money, but it’s not easy money. It’s hard work.
If you’re thinking of starting a new career as a real estate agent, here are the reasons why you should do it (and a few reasons why you shouldn’t).
Reason #1: Owning a Business Gives You Freedom
When you become a real estate agent, you’re your own boss. Not only that, but you also become a small business owner. You have complete control over how your business operates. Becoming a real estate agent gives you access to the American Dream, i.e. the freedom to pursue success and prosperity.
As a small business owner, you have:
- A flexible daily schedule - You decide what you’ll do and when you’ll do it
- A flexible vacation schedule - You can go on vacation and return whenever you chose
- Location independence - You can work from anywhere, including your home, your car, your office, or on vacation
- No dress code - You dress the way you want and can decide what to wear for yourself
- No boss - Although you will have a broker who oversees your transactions and paperwork, you serve as your own boss because no one else can tell you what to do
Reason #2: Your Business is Scalable
Your real estate business can grow beyond a five- or six-figure income and not just provide for you, but also provide for your employees. While you can’t hire other agents until you get a broker’s license, you can hire an assistant to help you as your business grows.
You can also become a broker after three years as an agent (learn how to become a broker here). As a broker, you can hire employees to work as real estate salespeople and then you can take a different position in your company where you’re less hands-on, and more focused on growth.
There are a lot of directions you can go with your real estate business.
Reason #3: The Real Estate Market is Strong
You may be curious if you should get into real estate due to the worldwide uncertainty and instability brought on by pandemic. Here's some good news for you: The Federal Reserve has voted to keep short-term interest rates anchored near zero, and it will stay that way for years.
What does this mean for real estate?
While the Fed doesn't set mortgage rates directly, near-zero interest rates make mortgages more attractive for home buyers. This will likely cause the current housing market (which is already seeing a boom during the pandemic) to become even stronger.
More people in the market for a home = more people who need a real estate agent to find them their home.
There’s never been a better time to become a real estate agent.
Reason #4: You Don't Need a College Degree to Sell Real Estate
Not everyone is meant to attend college, and that's not a bad thing. College attendance does not determine your future success.
Real estate agents don’t need to have a college degree. You need to be 18 years old, have a social security number, and meet a few other basic requirements.
Instead of going into debt that will take you years or even decades to climb out of, you can pursue a career in real estate for a fraction of the cost. Your education will be thorough but not time-consuming and give you what you need to satisfy the state's requirements for real estate salespeople.
Reason #5: You Can Take Real Estate Classes Online
The state of Massachusetts requires that, to become a licensed real estate agent, you must first take a 40-hour real estate course.
The good news is that these courses can be done at home.
Freedom Trail Realty School is the first board certified online real estate school for the state of Massachusetts. Our online courses are led by live instructors but can be streamed on demand so that you can take them at your convenience. While you can also take the course in person, we offer the online option if you need to complete the course on your own schedule.
You can take our real estate course on your desktop, phone, or tablet (without needing to download or install special software). There's never been an easier or more convenient way to become a licensed real estate agent.
Learn more about our online pre-licensing Massachusetts real estate course here.
Reason #6: You Become an Expert
It’s hard to become an expert in a lot of careers, especially if you’re stuck in a corporate job. However, in real estate, you can become a respected authority. People will look to you for industry insight and you can give professional advice, not just to your clients, but also to media outlets who come to you with questions about real estate. You’ll be able to teach what you’ve learned and enjoy the respect that comes with it.
Reason #7: Selling Real Estate is Empowering
There’s no better feeling than helping someone accomplish a huge goal. By assisting your client in the purchase or sale of their home, you serve a huge and unforgettable role in this stage of their life. They’ll never forget it – or you.
Reason #8: Selling Real Estate is Fun
Do you love all things home-related? Do you pop into open houses for fun? Do you enjoy watching HGTV? Real estate is a natural extension of that. When you become a real estate agent, you’ll spend a lot of your time in beautiful homes, especially if you’re in the luxury market. You’ll get a chance to tour different architectural styles on a regular basis and have the opportunity to turn your pastime into your paycheck.
Reason #9: Real Estate Demands Creativity
The most successful real estate agents are creative. You’re selling property, but the way that you sell it is what will determine your success.
This is why real estate demands creativity. You can be creative through how you:
- Design your direct mail postcards, social media ads, and brochures
- Write your listings, blog posts, and emails
- Advise your clients on staging their homes
If you want to be creative, you’ll have plenty of opportunities as a real estate salesperson.
Reason #10: Real Estate Agents Are Always Learning
Even after you graduate from real estate classes, you’ll continue to learn about the industry. In fact, you’ll never stop learning about real estate because there will always be new technologies, trends, and market data to discover. The most successful real estate agents are committed to continual self-improvement. If you love the idea of learning and constantly evolving into a better version of yourself, you’ll soar in real estate.
Reason #11: Real Estate Agents are Problem Solvers
Do you like to solve problems?
For example, let’s say you’re working with a married couple who want completely different home styles. One loves the colonial style. The other says they must have a ranch. What will you do?
Does the idea of solving this problem energize you?
These are the types of dilemmas that real estate agents must overcome regularly. While discovering compromises may be maddening to some people, natural-born real estate agents love the challenge of solving complicated problems like these. If that sounds like you, you may have a successful future in real estate, and you should definitely give it a chance.
Should You Become a Real Estate Agent?
Not everyone has what it takes to be a real estate agent. If you don’t like people, if you don’t like homes, and if you don’t like hard work, you probably don’t need to pursue a career in real estate. Remember that real estate is not quick money and you’re unlikely to become a millionaire, especially in your first year as an agent. However, your earning potential is unlimited. Your hustle is the only cap.
It’s also important to note that you’ll need to financially support yourself as you build your real estate business. Your broker won’t help you (remember they’re not your boss). In fact, you may need to pay them a desk fee, depending on your arrangement.
In addition to paying your personal bills, you’ll also need to pay for everything related to your business, such as:
- Business expenses (rent, utilities, supplies, equipment)
- Marketing expenses (yard signs, business cards, website, Facebook ads)
- Membership fees (to become a REALTOR® or to join your local Multiple Listing Service (MLS))
Interested in Becoming a Real Estate Agent? What a great choice! If you meet all these requirements to become a Massachusetts real estate salesperson, you can start your pre-licensing course with Freedom Trail Realty School.
Learn more about our real estate pre-licensing course here. We'll see you in class (online)!
The real estate world is multifaceted and fascinating, blending entrepreneurship, market dynamics, client relationships, and adaptability. I've been deeply entrenched in this realm, staying updated on the ever-evolving market trends, legalities, and strategies. Let's dive into the concepts from the article:
Real Estate as a Career Choice:
1. Freedom and Entrepreneurship:
- Real estate offers autonomy and flexibility. As an agent, you're essentially a small business owner, dictating your schedule, location, and approach.
- You're the boss, responsible for your success and operations.
2. Scalability:
- The potential for growth in real estate is significant. Beyond a personal income, you can expand to hire and manage a team as a broker, focusing more on strategic growth.
3. Market Strength:
- The stability of the real estate market, influenced by factors like interest rates, plays a pivotal role.
- Low-interest rates tend to spur housing demand, benefiting agents by increasing the need for their services.
4. Education Requirements:
- Unlike many professions, a college degree isn't necessary to become a real estate agent.
- Basic qualifications typically include being 18 years old, having a social security number, and meeting other state-specific requisites.
5. Online Courses and Accessibility:
- Real estate courses, like those in Massachusetts, can be completed online, offering convenience and flexibility.
- Schools like Freedom Trail Realty School provide online courses led by instructors, allowing learners to pace themselves.
6. Expertise and Authority:
- Real estate offers opportunities to become an authority in the field.
- Agents are sought after for industry insights, not just by clients but also by media seeking professional advice.
7. Empowerment and Fulfillment:
- Assisting clients in significant life decisions, such as buying or selling a home, can be emotionally fulfilling for agents.
8. Enjoyment and Passion:
- For those passionate about homes, architecture, and design, real estate can be an enjoyable career choice.
- Exploring diverse properties becomes a part of the job.
9. Creativity in Sales:
- Creativity plays a crucial role in how properties are presented and marketed.
- Agents have ample opportunities to infuse creativity in various aspects of their work, from designing marketing materials to advising on home staging.
10. Continuous Learning:
- Real estate is a dynamic field, requiring agents to continuously learn about market trends, new technologies, and evolving client needs.
- Commitment to ongoing education is integral to success in this industry.
11. Problem-Solving Skills:
- Agents often face challenges in negotiations and client preferences, requiring adept problem-solving skills.
- Finding solutions and compromises is a fundamental aspect of the job.
Considerations for Prospective Agents:
- Not everyone is cut out for real estate. It demands dedication, hard work, people skills, and a genuine interest in homes and helping others.
- Success isn't immediate, and financial stability while establishing a client base is essential.
Financial Considerations:
- Starting in real estate requires personal financial stability as initial earnings might not cover all business and personal expenses.
- Expenses include operational costs, marketing, and association fees.
For anyone contemplating a career in real estate, it's crucial to understand the industry's nuances, challenges, and rewards. While it offers independence and potential for growth, success demands dedication, perseverance, and a genuine passion for the field.
