A Career in Real Estate- Myths & Truths
Often, aspiring real estate agents (and more than a few spouses) aren’t quite sure what they’re in for when they consider a real estate career. Real estate can be both frustrating and fulfilling, and is sometimes more than a full-time job. Regardless of what you are looking to gain from a real estate career, professionally and personally, it is important that you and your family know what to expect.
WORKING THROUGH THE MYTHS
Myth: Working for yourself is great!
Truth: Sorry but agents don’t work for themselves, they work for their clients (past, present, and future)- which means they need to be available… a lot. For spouses it means that sometimes making plans can be a little tricky and understanding is a must.
Ask yourself: Am I comfortable with non-traditional work hours? Am I willing to work ‘that’ hard? Will my family be understanding?
Myth: A real estate career will allow so much flexibility.
Truth: Well, kinda. If by flexibility you mean taking a business call behind the high school snack bar during your son’s football game then yes, you shall have flexibility.
Ask yourself: How flexible am I willing to be to accommodate my clients? Will I be OK with interrupted family time? Will my family?
Myth: I have a huge personal network- I’ll make a killing!
Truth: As a new agent it maybe a better idea to initially work with clients who don’t know how green you are. That will give you some room to get on the side training from a more seasoned agent. In the meantime fake it ’til you make it. This means that you will be doing a lot of marketing, cold-calling, chatting, and eavesdropping in the grocery store. Plan on meeting a lot of new people. This also means that you need to take time to build your real estate business before reasonably expecting consistent income from it.
Ask yourself: How comfortable am talking to strangers? Am I comfortable selling myself and talking about my business? Do I have the financial resources to allow time for my business to grow?
Myth: Real estate will make a great second/weekend/evening job.
Truth: I’m sure that there are very successful part-time real estate agents out there, but we don’t know any. In our humble opinions, takes an incredible amount of time, dedication, training, attention, and energy to be truly successful in real estate. If you aren’t willing or can’t commit to doing it full time, don’t do it at all. (Don’t worry- we’ll take your referrals).
Ask yourself: Am I willing to commit 100% to this new career? Do I have the financial, internal, technological, and family support to pull this off?
Myth: Real estate can’t be that hard.
Truth: Actually, it’s pretty hard- if you are going to do it right. There is a lot to learn and you have to be on board with that. Good agents will have some level of interest in their community, the housing market, financing, marketing, and technology. Great agents will geek-out about all of these things and will learn about them ferociously.
Ask yourself: Am I willing to dive in and be patient with the learning process? Am I truly interested in this industry and it’s requirements of me?
DO YOUR HOMEWORK
Now that you have a more realistic idea of what being a real estate agent is all about and have decided to move forward with your new career, it’s time for you to do some more research. Talk to other agents and interview a few brokers. Do some research about the income that you can expect. Become proficient in the technology you’ll need to use. If all of those things wash out then go for it!
Preston Group is here to guide clients through the process of completing a real estate transaction. We have over 13 years experience in the Las Vegas real estate market and are ready to help you with your real estate needs. Call Shawn M. Preston at 702.350.2289.
Like this article? Check out Preston Group’s other blog posts here.
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