Why you shouldn’t get into real estate?
You are probably thinking to yourself why would someone ever write this article if they are actually trying to grow their company? Well to answer your question, if you are contemplating becoming a real estate agent, I want to be completely honest with you. Real estate is not always sunshine and roses.
There’s a tough side of the business that most agents and companies don’t want you to see. Think about Disney World. You only see joy and laughter when you are planning to visit.
You forget about the tired feet, ungrateful screaming kids, and that your wallet is a lot lighter, having no clue where it went. Yep, that is a career in real estate.
You aren’t a self-starter
If you can’t motivate yourself to work you probably shouldn’t be in real estate. There are way too many activities throughout the week that aren’t very productive but fun. You know you aren’t going to be selling that house in the other part of your county but the broker’s open has wine and your favorite restaurant is catering. In order to be a good real estate agent, you have to be self-motivated and disciplined.
Poor money management
Yes, the paycheck is a big draw to becoming a realtor. You just got a large amount of money at one time. You can’t be planning that big vacation immediately.
There’s a high likelihood that you aren’t going to get paid for a few months. Buckle up and learn how to budget.
Poor time management
Time is money, but there’s a fine line between being available and being run over by clients. If you don’t practice time management you are going to be driving all across the countryside to show homes. Your spouse is going to get angry when you get up from the dinner table to take phone calls negotiate repairs or write up an offer.
You don’t handle stress very well.
As a real estate agent, you are helping someone buy or sell the biggest purchase of their lives. They sometimes get grumpy and rightfully so. Roofs start to leak, ac units stop working, houses don’t appraise. Sometimes it’s your responsibility to figure out how to save the deal.
Sometimes you get the blame for something that you had no control over. If you can’t handle one of the most stressful situations in a client’s life then real estate isn’t for you.
You think the most important things in real estate are your headshot and what car you drive.
Most clients don’t care what you look like or what you drive. You don’t pick out your accountant because they have a nice headshot and neither will your clients. Buyers and sellers want to have someone they can trust and help make the real estate transaction a smooth process.
You think you are going to make tons of money.
Yes, there are some new realtors that start out making great money but this isn’t the case for most. On average most realtors make 40-50k a year. Their first year in real estate. Surprised? Yea, we know we work hard for the money but there’s a lot of costs involved with becoming a realtor.
You aren’t inclined to continue to work hard without having results.
Becoming a Real estate broker is a lot like exercising, you can start on January 1st thinking that you are going to get a 6 pack but 2 months later you still don’t see abs. Are you the type of person that quits when the results aren’t instantaneous but later on down the road? If so, then real estate isn’t for you.
What you put in is what you get out.
If you think that you can be a top agent and not work full time this isn’t realistic. Most new real estate professionals don’t realize the time and energy it takes to start selling real estate. A real estate career is like making snowball. It takes a long time & money to grow your real estate snowball.
Between your MLS dues, national association or realtors dues, and continuing education the cost of just having your real estate license can be expensive.
You aren’t willing to be flexible.
Every real estate deal is different. They all require different types of marketing and different types of communication for different types of clients and properties. If you aren’t open-minded your business won’t grow. If you want to do the same thing as every other agent then you will be just like everyone else in real estate.
With all the reasons why you shouldn’t become a realtor, it can be a fearful commitment to make.
But at the end of the day, it can be one of the most rewarding jobs on the planet. Where else do you get to see an individual’s dreams of homeownership come true? Where else can you find the forever home for a new family? Where else can you take the stress of the real estate transaction and turn it into a blessing?
Plain and simple, if you are getting into real estate to get rich, go somewhere else. If you love the grind of working for your paycheck come on aboard. A career in real estate is about making people’s lives easier during the largest purchase of their lives, not your future earning potential. It’s no easy take and if we make it look easy then we did our jobs.
If we haven’t scared you off and you still have questions feel free to reach out to us. If you are ready to take the leap but afraid of some of the speedbumps mentioned above, let us know. We will be glad to help you navigate you through the rough waters of getting your real estate licensing completed. Real Estate is a very rewarding career but it needs to be rewarding first emotionally and then financially.
