Real estate agents enjoy a lucrative career helping others buy, sell, rent, and invest in property. Two leading reasons why people choose this profession are unlimited earning potential and professional status without years of schooling. Discover seven unexpected advantages of having a real estate agent license for pros with leadership qualities and marketing expertise.
Maximum Returns for a Minimal Investment
Becoming an agent requires a minimal investment of time and money to realize maximum returns. It takes just a few weeks or months to complete the education necessary to sit for the local real estate test. Most professions require years of college. Once a potential agent completes the local test, the next steps are to take the state licensing exam and find a broker who is willing to hold your license.
When someone becomes a licensed agent, other business-building investments are required. These costs include business cards, marketing materials, transporting clients to view properties, and required continuing education and real estate license renewal fees. Agents typically wait a few weeks or months before the first deal closes, and often work a second job in the meantime to cover their bills.
Control Your Destiny and Schedule
Management makes the final determination of an employee’s professional destiny within the company. Employees must adhere to a schedule, asking for time off to go on vacation, handle personal business, and attend family events. Real estate agents control their destinies and schedules. A managing broker might expect agents to spend some time in the office, but otherwise, agents handle their time.
Agents set up appointments based on their schedules and the clients’ availability. Flexibility is a leading reason why people get a real estate agent license. Agents choose their working hours, the scope of their businesses, and how much they want to work and earn. As independent contractors, agents have control over their time to create the work-life balance they need.
Determine Your Level of Business Growth
Some agents are looking to earn a full-time income, while others want to supplement their income. And there are a variety of other circumstances in between. Each agent determines his or her level of business growth. From working 20 hours a week to making appointments seven days a week, agents decide how much they want to put into their business and what they want to get out of it.
As independent contractors, agents must pay their taxes rather than having them deducted by an employer. It helps to develop a trusted network of professionals as a support team, such as an accountant and attorney who provide advice as an agent’s business grows. Networking is a crucial aspect of becoming a successful agent to help yourself and your clients. As the face of real estate changes and evolves, other essential connections include mortgage bankers, contractors, exterminators, inspectors, builders, and investors.
Influence Lives and Communities
Top real estate agents have strong leadership qualities and are influential members of the community. Over time, agents get to know local school districts, happenings, people, and events. This knowledge helps agents find the ideal properties for commercial and residential buyers. Experienced agents also have a list of potential buyers to help sellers close deals faster. And expert agents often don’t need to host open houses because they have buyers waiting for certain types of property to hit the market.
Agents can also become valued resources in the community. Many manage websites, blogs, and social media pages on Facebook and Pinterest to make local announcements. Posts can cover upcoming local events, volunteer opportunities, community growth projects, and properties for sale. When people are ready to buy or sell, they will remember seeing the agent at local events and getting community news from the agent – and this can mean more leads for the agent.
Professional Expertise to Expand Into Other Lucrative Areas
Real estate agents learn a lot during their work. From being financial advisers and personal counselors to reviewing title reports and negotiating contract terms, an agent provides hands-on assistance in many areas. Some agents earn additional professional licenses to enhance the services they provide, such as a notary public to verify signatures on essential documents.
Others get into a field such as real estate investment, becoming landlords or flipping properties for a profit. Besides earning an income as an agent, you can create multiple streams of income by investing, renting, managing properties, writing about real estate, and more. After putting in the required number of years, some agents continue their education to become real estate brokers and earn higher commissions.
Always Something to Learn and Do
Real estate agents never have a dull moment. If you don’t like to be bored or looking for something to do at work, this could be the ideal career. There is an endless supply of property buyers, sellers, investors, renters, and available properties. An agent is always searching, learning and communicating with others to build a profitable business.
Continuing education classes also inspire, much like working in the field. Some agents discover they are interested in real estate appraisal and other areas of expertise within the industry. When it comes to career potential, the sky is the limit for motivated real estate agents.
Professional and Personal Satisfaction
The best real estate agents make a real impact on people’s lives. A client may struggle to find the right property at a price that fits into his or her budget. Helping someone find their dream home gives an agent a feeling of professional and personal satisfaction. Plus, satisfied clients tend to return to the agent who helped them – and refer to the agent to others.
Each time an agent helps someone find the property they want, it also results in a commission check. Happy people tell others about their good experiences, which results in excellent word-of-mouth advertising for agents. The more clients an agent helps, the more clients will be likely to contact the agent in the future, becoming a cycle of joy and profitability.
From unlimited income potential and independence to professional recognition and investment opportunities, a real estate agent license opens many unexpected doors to success. If you have sales skills, leadership qualities, and the desire to help others, this could be a very lucrative career path.
Do you think you have the right stuff? Better Homes and Gardens® Real Estate offers a simple test to see if this could be the perfect profession for you.