There are loads of great reasons to make a career in real estate. While there are many career paths one can take in the real estate industry, we will focus on the role of the real estate agent in this article.
In the Miami area, where Global Luxury Realty is headquartered, Indeed.com quotes an average salary of $106,130 for real estate agents. Unlike other occupations that provide a relatively high income and require a college degree, only a high school degree or equivalent is required for real estate licensure. Besides the attractive income, there are many other reasons that many love to sell real estate. What are some of the main reasons?
Becoming a real estate agent takes less time and effort than many other careers
Whether you are starting a new career or looking to switch careers, real estate agency does not have many of the barriers of time and effort required to start selling. You don’t need to have selected any specific path of study or specialization, prior to deciding to sell real estate, for example.
The real estate agent path is flexible
You do not have to decide to commit full-time to real estate. Of course, if you want to be most successful at selling real estate, you would have to put your all into it. That does not mean, however, that you cannot make a very good income selling real estate, while continuing to pursue other career paths, simultaneously. You could even use real estate sales as a source of income to finance your study of another discipline. Once you are done with your studies, then you can decide whether to continue to sell real estate full or part-time, or to move on.
Also, as you develop a clientele and get referrals and repeat business, your time flexibility increases. You can make more sales with less effort.
While you have certain responsibilities to the broker with whom you hang your license, most real estate agents remain independent contractors, and really work for themselves. While you are affiliated with a brokerage, you really are your own brand, and you can market yourself in your own unique way and style. In many cases, you can choose to work from the comfort of your home. You are self-directed, choosing your own goals, setting your own priorities, and cashing in on your own successes.
Make more money
As already stated, real estate agents can enjoy a lucrative income, especially in hot markets, like Miami. How much you make will be dependent on a lot of factors, but will be largely dependent upon you, and the choices you make. You will have to make decisions about how to best invest your time and resources. As you grow your business, you will most likely learn more and more about how to effectively market and advertise to gain traction in sales. For example, Bill Gardner of Global Luxury Realty has found that using CRM kvCORE to boost ads on Facebook with one click is one of the most efficient and effective tools for getting your listing seen, and to get fast inquiries from your target audience.
No one is saying that real estate sales is easy. It is not. It requires hard work and dedication. It requires prioritization, research, and investment of time, effort and money to be most successful. It requires putting your clients first, learning about their needs, and satisfying them. It’s a lot of responsibility. You may be helping your client choose the home in which they spend the rest of their lives. You’ve probably heard the term, “dream home.” For some people, you are literally helping to fulfill a dream. The rewards to the savvy agent for doing the job well can be very high.
Real estate markets are interesting and ever-changing
Cold markets become hot. Hot markets become cold. Just like any investment, market values can fluctuate. A large corporation may move into an area, creating growth. A large company may move out, creating an exodus of residents. There are many variables that help determine the value of a piece of property. In Miami, for example, there are loads of international buyers, and things like the fluctuating value of foreign currencies can come into play. Taxation levels can change, making an area more or less attractive. Florida, for example, attracts many people due to the lack of state income tax. High income taxes or property taxes can limit the ability of buyers to afford to live in an area.
Learning to understand and manage all the variables that go into the valuation of real estate can be challenging, but also rewarding. At least, it makes real estate an interesting field. Despite not needing a higher education, the smart agent will profit from staying on top of all the variables, and being able to effectively communicate how they are impacting the values in a given area. This will surely help them provide superior service, and gain the trust and respect of their clientele. Of course, that clientele will also likely be very diverse, and will probably contain some very interesting characters. Hopefully, you make some friends along the way.
Help guide people through important life changes
Many real estate transactions are made due to clients reaching major milestones in their lives. Your client may have to move to start a new job. Your clients may have just gotten married, and are looking for a community that supports their new, married lifestyle. Your clients may have retired, and are looking for a place to spend their golden years.
Real estate agents can wear many other hats when dealing with the particular life situations of different clients. You may become a bit of a shrink or a life coach, in some cases. Knowing that you are assisting clients to get to the next level in their lives can be extremely rewarding, especially if you do a great job of it. As stated earlier, you may be facilitating the manifestation of a dream that your client may have spent a great deal of time and effort to achieve.
Be an expert
As stated earlier, as you progress in your career, you stand to get repeat business from happy clients, and also referrals. This is partly a function of them seeing you as an expert. To truly stand out as a real estate agent, you have to offer something others don’t – something superior.
As you gain an understanding of the markets in which you work, and the clientele for whom you are shopping for homes, you become more and more of an expert in your field. You will notice things a novice agent would not notice, or you will notice them a lot faster. You will become better at choosing properties to show, based on the needs and desires of your clients. You will also become more savvy at noticing the red flags that should help you avoid showing certain properties to certain clients.
Choosing a career is not an easy decision for most people. Real estate agency can make an exciting and rewarding career for many.