Is Real Estate A Good Career? Things You Should Know

The Prepared Resume - Is Real Estate A Good Career

Real estate is a flourishing business. Specifically in the housing market, there is currently high demand with low inventory across the United States. That means there is a lot of money to be made. That sounds very attractive to many but building a successful career in this business requires hard work and dedication. Just like any other profession, not everyone is going to be a good fit to become a real estate agent. But if you are just now starting to explore a career in real estate, you are probably wondering, “Is real estate a good career?”  

There are many reasons to become a real estate agent such as having flexible work hours, owning an independent business, making good income, opportunities to meeting people, and practically helping others. Besides, as a real estate agent, you have new challenges every day. Therefore, you will never get bored because no day is every really the same. 

In this article, I will talk about the reasons that you should become a real estate agent. When you are done reading, you should have a good idea of some of the positive reasons to enable you to decide for yourself if you want to pursue a license to become a real estate agent.

14 Reasons Real Estate Is A Good Career

Everybody wants to have a meaningful career that offers a decent income and flexible work hours. That's every working person's dream, isn't it? The career of a real estate agent offers many parks for ambitious and hardworking people. If you are willing to put in the work, it can be rewarding. Here are 14 reasons why real estate is a good career:

1. No Need for a College Degree

To become a real estate agent, you do not need to have a college degree. If you were not able to finish your college education for some reason, you can still become a real estate agent.

Besides, college can be expensive for a lot of people. And many people make the wise decision to not pursue student loans. Regardless, instead of paying so much money for a college education, you can focus on and invest in training to become an agent.

For other high-profile professions like becoming a doctor, engineer, or banker, most roles require a good educational background to at lease start your career. And then on top of that you will likely need to obtain much higher degrees to get promoted or to increase your income. 

But in the real estate business, your academic education does not prohibit you from pursuing this career nor does not determine how successful you are going to be. A successful agent can earn as much as any high-profile profession or even more. 

2. Become An Agent At Any Age

Age is not a big concern for becoming an agent. If you are 18 years old (or 19 in some states) or above, you can pursue a real estate license. You can start making money in this career from a young age. Plus, you can study and work as part-time agents simultaneously if you can handle that much work on your plate at once. But let's be clear – you have to be extremely talented to get clients and be successful at such a young age.

On the other end of the spectrum, since age is not an issue, retired people or people who want to change their careers can also become real estate agents. I know many people who have started a career in real estate who changed careers to do so. Their previous work experience even helped them succeed in the real estate world. 

Considering a career change? If so, pick up my resignation letter template to quit your job due to a career change. The career change resignation letter template is located in this bundle right here.

3. Online Real Estate Classes

Another reason why you should become a real estate agent is the easy access to actually learn the business. There are many online classes available that are flexible. So, if you are a full-time worker and unable to attend scheduled classes for real estate, you can take the online courses. 

In many states, you need to attend at least 40 hours of class on real estate to obtain a license. Utilizing online courses will likely help you get the license easier because you can do it on your own time. And if this is you and you need a kick in the pants to go start your career in real estate I recommend you do a very quick class on becoming your own boss as it is very helpful.

I recommend The Real Estate Express Online Program. They have programs for every state so you are able to be certified anywhere in the USA.  If you are considering a career in real estate, I highly recommend you give their program a look.

And on top of that you can literally go take reasonably priced (dare I say, cheap?) online courses to learn how to become an entrepreneur, learn how to be more productive, and even take a complete course to learn digital marketing to gain more clients.

There is no shortage to access of affordable resources for learning and licensure.

4. Fast Track Career

If you are a hardworking person and have the ability to quickly grasp complex topics there is no reason why you cannot become a real estate agent in just a few months. If you are able to get licensed quickly then that means you have the ability to start earning income right away.

The process to become a real estate agent is fairly straightforward: you have to complete a training course, pass the real estate license exam and join a company. In many other industries starting a job in that field is not so easy. In many fields you need years of education and experience to either start a job with a company or a business. And then it can take more years to get promoted into a higher position. 

But a real estate agent typically does not have to wait a long time to join a brokerage company. As companies make money through the agents, they are always willing to take more people as agents. Also, there is no true ranking system among real estate agents based on years and experience. That means you can earn the same as any “expert” agent if you understand the market well. 

5. Real Estate Is A Booming Business

The real estate industry is complex and it is an industry that shows no signs of slowing down. If you are motivated to learn about the business and become committed to success, you can jump aboard the tidal wave and have a thriving career. 

With an effective business plan and diligence, an agent can find many clients in this industry. People are always looking for the best deals for selling and buying properties. Combine that with the current, lower inventory, there is a lot of work available for agents in the industry. 

6. Building Your Own Business

In this industry, you can build your own business brand. And to combine one of the previous points, you can even take an online class to help you learn how to build your brand. (Check this class out if you are interested.)

You can join a team, or you can ask others to join your team. You can even still work under the name of your brokerage while you are building your brand. Or, you can keep working as an agent for a company or brokerage.

For example, you are an agent of Keller Williams. So, you are working for yourself and the company. However, you can extend your business by creating a team of agents just like yourself and start your own business. 

This way, you can build a brand and also work under Keller Williams. And since the company is one of the most famous real estate companies in existence, people will tend to trust you for being associated with a company such as Keller Williams. 

There are options and flexibility when you become an agent because you can chose the type of agent you'd like to be. But this really can only be fleshed out once you gather enough experience working as an agent and have demonstrated success. But it is entirely possible that you can get a broker’s license and start your own brokerage. 

7. Free To Make Your Own Decisions

A real estate agent has no boss. Well, other than the customers. Being a real estate agent allows you the ability to make your own decisions on how to operate your business. There is no one to pressure you to do things a certain way.

You can choose your clients, make your listings and decide how you are going to handle your business. You can even choose with whom you want to team up. If you don't want to deal with a particular person, you don't really have to.

8. No Limits To Income

As a real estate agent, your income depends on your ability to produce. If you work for a specific real estate company, they really do not have much control over your income. You can earn little or a lot based on how much effort you put in and how successful you are.

The principle is pretty simple: If you want to earn a decent income, you have to look for more clients. A good agent can handle multiple clients at the same time. And the result is that the more clients you have, the more commission you will make. Although the commission percentages can vary depending on a variety of factors, it is still possible to earn a very good income.  

It also bears mentioning that the income of a real estate agent is not hourly-based. That means you have the option to work extra hours for more clients if you so chose. With the obvious goal being that investing more time into more customers to yield more commissions.  

Any career-focused agent with the drive of succeeding in the business can realistically earn a six-figure annual income. 

9. A Flexible Schedule

Real estate agents work on their schedules. There are no official office hours. But make no mistake – if you are going o be successful as a full time real estate agent then you will have to put in the time. Being a real estate agent is not a get rich quick scheme.

That being said many people work as part-time agents. For example, I recently met a teacher who also had a real estate business on the side where she worked on nights and weekends. 

Conversely, having not official office hours or times every day to be accountable, this can be extremely y bad for the undisciplined real estate agent. Since no one forces real estate agents to do the job in a timely manner, it is very easy to become lazy or procrastinate. If you are not a highly motivated individual, you will likely fail to see material results in a real estate career. (If this is something you need help with I recommend you check out this course to help you learn how to increase your own personal productivity.)

But if you are diligent and are able to complete work in a timely manner, that will greatly benefit you because you can actually find time for more clients. 

10. Work From Home

Working from home is often considered one of the best parts of becoming a real estate agent. You do not have to be in person in an office every day. As a licensed agent, you have the freedom to go to places and meet new people. You also have the freedom to stay home if you chose to because no one forces you to schedule the majority of your meetings your showings at particular times. 

As a matter of fact, some of the most successful real estate agents I know are house makers. Also, there are online real estate companies where you can join and conduct the majority of the business deals virtually. Make a commission while sitting in your PJ's? Sign me up!

If you are a real estate agent and do not currently have a lot of scheduled showings or closings? Just stay home and look for potentials customers. It can be a great mental break to do research from home if you have the opportunity and ability do so. Never discount how much of a stress reducer that can be in your life.

11. Meeting People

Networking is crucial for the real estate business. Therefore, developing relationships is a crucial part of the daily life of an agent. You need excellent people skills to succeed in the industry. Interestingly enough, you get to learn this skill while you practice it as you work as an agent. and this is a skill that is transferable to all areas of what it takes to make a good agent. 

As an agent, you will get to meet new people from all walks of life. You will learn how people think and what they want. If you listen more than you talk, you can actually improve your social skills by understanding what makes some people tick. This can even allow you to develop your persuasion skills to influence a buyer or seller decision.

And if you serve your customers well that will serve your business well. People love to share the name of their realtor (if you are good and they like you). Personal referrals are a big deal in the real estate industry. I remember one agent I interacted with in Colorado. He had a tagline that said (and I'm summarizing): “The greatest compliment anyone could give me and my business is a referral.” And that is very true in the real estate industry!

12. Positive Influence In Others Lives

A real estate agent will likely never reach a high level of success if the only motivating factor for them is making money. An agent is literally often helping people find a home for their business or family. A real estate transaction is a very big ordeal for buyers and sellers alike.

That means it is the agents job to meet the needs of the customer while finding the best deal possible. Property buying and selling might be a business for the agents, but for the customer, it is literally a life-changing decision. 

Therefore, the customers needs always come before your own commission. If you don't meet their needs you won't have a customer which means you won't have a commission. When you help find the perfect house or office space for customer there is a tremendous amount of satisfaction in helping others find their perfect place.

13. Not A Typical Desk Job

If you want a dynamic career, you have a very good reason to consider becoming an agent. Practically speaking you will have some type of office and a desk because you have to market your listings, write contracts, and create an edit other binding agreements. But that does not mean you have to spend hours sitting in a chair and staring at the computer.

A real estate agent also works outside “the office.” You get to visit different locations, houses, and people. As I said before there are no 2 days that are ever the same. At least you can be assured real estate agents are typically never bored!

14. Continuous Learning

A job stays interesting when you keep doing and learning new things every day. The real estate business is that kind of profession. Each day has it's own set of unique challenges and there is always something new to learn. Whether that be something new about a person, a location, a contract, or even your business. Real estate agents are in a constant state of continual learning.

Learning on the job is a very real thing for real estate agents. Companies and brokerages even offer free training courses for their agents. Both new and experienced agents can participate in these sponsored programs to continue learning to ultimately improve their skills with the goal of increasing sales.

The internet has evolved the real estate business and as technology advances it will continue to change even more. So if you are going to be a successful agent you have to be a lifelong learner. But as I've already mentioned and linked to under reason number 3, there is no shortage of information on the internet.

How Much Do Real Estate Agents Make? 

The income of an agent depends on a few factors. It mostly depends on the effort someone gives to the business. Only hardworking agents with strong work ethics can make a full-time income because to earn commissions, you need not only clients but also successful business deals. In most cases the commission for agents is 5-6%.

There are two agents involved in most real estate business transactions: a buying agent and a selling agent. The commission is typically equally split between both agents. 

The agents also have to share a portion of the commission with their companies or brokerages. How much of the commission agents have to share varies from company to company. Most of the time this is not a concern but you want to look for a company or brokerage that has a fair or standard commission split between agents.

To break this down even further, allow me to provide you with an example:

You sold a home for $300,000 where the total agent commission is 6%. 6% of $300,000 is $18,000. Obviously that $18,000 is split between the two agents. Equally divided at 3% per agent is $9,000 for each of you. 

Then you owe a portion of the commission to your company or broker. The most common commission split between agent and broker is 60/40 which means 60% to the agent and 40% to the broker. That means you as the agent receive 60% of the $9,00 for a payout of $5,400. And your broker would receive 40% of the $9,000 which is $3,600.

Other common splits between agents and brokers are 50/50 and 70/30. Doing the quick math shows that's not a bad payout for a single transaction. But remember, those numbers do not include any owed taxes or fees. But on the positive side, the amount an agent makes is directly proportionate to the sale prices. The higher the sale price, the higher the commission.

But remember, the sales process of a structure, property or home can be time consuming and tedious. That's why it takes diligence to be a successful real estate agent. The good news is that home prices have been high in recent history. As a matter of fact, in 2020 Statista states the average home sales price in the United States was $389,400. That's crazy!

But remember, that's the national average. A agent commissions expectations should be set by the markets they serve. An agent in rural Alabama will have different commission expectations than an agent in downtown Atlanta, Georgia.

That means it is not very easy to truly estimate what to expect as a realistic annual income of a real estate agent. 

For example, The U.S. Bureau of Labor Statistics reports that in 2020 the median pay of a real estate agent in the USA was $51,220. But the annual mean wage from 2020 data in the state of Georgia is $69,150. So again, it really depends on the marked being served by the agent.

Should You Choose to Become A Real Estate Agent? 

If you have stayed with me thus far, I'm proud of you. My guess is if I asked you directly, “Is real estate a good career?” you'd probably say yes. Have you hit the point where you are interested in becoming a real estate agent? If so, continue thinking through the process but start by applying for the state license for agents.

While you think and process make sure you go through the process eyes wide open aware of the costs and potential risks. 

Do You Have the Time and Money to Get the License? 

Becoming a real estate agent takes preparation which equates to a time and financial investment. First, you have to get enrolled in a course. Then you have to take the agent exam for the specific state license. 

Passing the test is not easy to where you can just go do it. You have to put in the time and preparation. And yes, you should put in the study hours before you go pay for the exam fee which is typically around $60 for the test and about $245 for the license depending on the state. Count the costs carefully.

Are You A People Person?

Are you an introvert? Consider a different career than real estate. Joking aside, do you enjoy spending time with people? Do you have the skills and ability to persuade people and show them good versus bad decisions? Do you have good negotiation skills? Can you have direct and difficult conversations without getting emotional? If all the answers are yes, then go get that license!

At it's core, the real estate business is all about dealing with people and convincing people to sell and buy properties. That means if your communication skills stink, it's going to be hard to be successful.

Do You Have Enough Money to Start The Business?

You may be working under a well known brand name brokerage, but you still need your own money to advertise your business to people. From various forms of advertising to online marketing you will likely spend 1 hour each day just marketing your business. This may vary but is a realistic average. You will have other expenses such as technology and software.

An assumption of $2,000 on these items is very reasonable when just staring as an agent.

The National Association of Realtors reports it typically takes an agent around 6 months before they are able to support themselves financially. That means you will need to ensure you are generating an income from another source or you have enough in savings to start as an agent full time while you ramp up to a profitable salary.

Planning out the initial investments required to become an agent are a crucial fist step will tell you if you have enough money to stat your business and pursue a real estate career.

How Committed Are You?

Many people become real estate agents with great enthusiasm. But the same person can end up leaving the industry altogether. A realistic reason behind this type of failure is the lack of commitment and diligence. Most people simply do not want to and will not put in the work to be successful. It can be a reality check when your expectations don't line up with reality.

If you have tried many different careers and believe this is goin to be the one that sticks, I hate to tell you but it probably won't. Real estate agents have to be passionate about the business. Real estate agents are relentless. A half-hearted commitment will lead you nowhere because it really isn't an actual commitment. 

Can You Face Challenges?

Challenges and obstacles are inevitable. Even if you work hard, there is never really a guarantee you will be successful. Some agents go months without clients and business deals. Dry spells are goin to happen. I would venture a guess that every real estate agent has gone through this kind of situation at least once in their life. 

To face this kind of situation, there are the practical precautions about ensuring you have saved enough money to weather the storm. But it is just as important to have the right attitude to face the inevitable challenges that will come your way. I have found that intestinal fortitude can help you get through many situations and circumstances in life and in your career.

Do not be naïve as there will be challenges so consider them carefully. But I must state, if you believe you are ready to become a real estate agent, then start working on getting that license!  

Conclusion

So, is real estate a good career? Yes, real estate is a good career. And there are even more opportunities in the industry that just being an agent. But even though there are more aspects of real estate I did not mention, I wanted to specifically focus on becoming a real estate agent. You can have a meaningful, dynamic, and profitable career if you dedicate and actually apply yourself to the business. It is a challenging job that really can change your life for the better.

Related Posts

Want to read more? Check out a few of my other posts to learn more that can be helpful on your career journey:


Some Of My Favorite Tools

Thank you again for reading my article. Writing this blog takes a lot of time, attention, and effort so I take care in using a very standard set of tools to deliver my blog to you. Maybe you will find these helpful if you have any similar interests along your career path.

Web Hosting: To get started with a website I recommend SiteGround. Their prices are great and they have free backups for my specific plan. (Here is a very good write-up about utilizing their hosting platform that explains a lot of the benefits and walks you through the very easy sign-up process.)

Outsourcing: I use Fiverr for many different tasks. My life is pretty busy and I try to use my time wisely. I utilize outsourcing services like Fiverr whenever possible to have people do various tasks that I'm just not good at – like graphic design. If interested, here is the person I specifically use to do graphical design for many of my images.

Online Privacy: I work hard and strive to keep confidential business details private. Therefore, I always want to keep my work viewable only by the correct people. One of the ways I protect myself online is by using a VPN and more specifically I personally use NordVPN. I use NordVPN specifically because it's fast, I can use it on any of my devices, and I can chose from any specific location. If you are looking to retain your privacy online, I highly recommend NordVPN to both my friends and family.


Some Of My Favorite Tools

Thank you again for reading my article. Writing this blog takes a lot of time, attention, and effort so I take care in using a very standard set of tools to deliver my blog to you. Maybe you will find these helpful if you have any similar interests along your career path.

Web Hosting: To get started with a website I recommend SiteGround. Their prices are great and they have free backups for my specific plan. (Here is a very good write-up about utilizing their hosting platform that explains a lot of the benefits and walks you through the very easy sign-up process.)

Outsourcing: I use Fiverr for many different tasks. My life is pretty busy and I try to use my time wisely. I utilize outsourcing services like Fiverr whenever possible to have people do various tasks that I'm just not good at – like graphic design. If interested, here is the person I specifically use to do graphical design for many of my images.

Online Privacy: I work hard and strive to keep confidential business details private. Therefore, I always want to keep my work viewable only by the correct people. One of the ways I protect myself online is by using a VPN and more specifically I personally use NordVPN. I use NordVPN specifically because it's fast, I can use it on any of my devices, and I can chose from any specific location. If you are looking to retain your privacy online, I highly recommend NordVPN to both my friends and family.

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