Is a Career in Real Estate the Right Fit for You?
A career as a real estate agent has been ranked as one of the happiest jobs to have by Forbes. Depending on your state’s regulations, obtaining a real estate license to begin your career may only take a matter of weeks to a few months to obtain. But is real estate the right fit for you? We’ve broken down different aspects of a real estate agent’s career to help you determine if it is the right fit for you.
You Are Your Own Boss
Self-starters can thrive in a real estate environment. As a realtor, you are your own boss, and therefore determine your own schedule and goals. You may be working for a larger brokerage firm with preset goals, but it is ultimately up to you to achieve the level of success you desire.
There’s No Set Salary
There’s no set hourly rate or salary as real estate agent. Your earnings in real estate all depend on your sales and commission, and are paid out at the end of the transaction. Commissions can fluctuate, but typically total approximately 6% of the sales price. This is oftentimes split between the buyer’s agent and the listing agent. The upside of having no set salary is an uncapped earnings potential based on your sales. There’s the potential to make over $100,000 a year as a successful real estate agent.
Real Estate is Not Your 9 to 5 Job.
Real estate hours are flexible to meet the needs of their clients. This may include early morning, evening, or weekend home showings and deals. Some real estate agents find themselves working a tremendous amount of hours every week, sometimes double that of a typical 9-5 employees, to meet personal sales goals and satisfy all customers.