For any individual having the desire to work as a real estate salesperson with the intent on becoming an agent, there are several things to consider. Foremost among these considerations is the willingness to serve, and the ability protect the interests of others in a forthright and honest manner while placing personal interests secondary to those being served. It is important however to understand that in order to fulfill this kind of obligation, the intended real estate agent must obtain the required training and education.
Is this the career path for you?
That having been said, it is necessary to point out here that newcomers to the real estate agency business do not immediately achieve the position, or designation of “real estate agent,” since only the license “broker” or Realtor is considered the agent and those salespersons working under the Realtor’s license are considered “Salespersons” or “Realtor Associates” until such time as they have completed the required amount of time (this can vary from state to state), take the Real estate Broker’s course and pass the broker’s test, after which that individual is considered a real estate “agent” in the truest sense.
Until then all sales persons/associates working out of a given Realtor’s office are considered “sub-agents” to the actual agent. Once this relationship is understood and agreed to, a career in real estate sales – whether you are a salesperson or broker – can be the most challenging, yet rewarding experience an individual can look forward to. We will highlight a few of those challenges and rewards in the following “Pros and Cons” section.
The Pros & Rewards of Real Estate Sales Career
- Schedule – Work according to your own schedule. No “9 to 5,” No Clock to watch.
- Earnings – Earn as much or as little as you desire, since your earnings are usually in the form of commissions.
- Accomplishment – Every home you list for sale, which is sold is an accomplishment.
- Fulfillment – Every family you help achieve home ownership is a fulfilling and rewarding experience in and of itself
- Respect – Real estate sales agents are highly respected professionals
- Freedom of Movement – Work on your own appointments in various locations.
- Independence – Most real estate sales professionals are independent contractors.
The Challenges of Real Estate Sales Career
- Independence – As an independent contractor the agent is responsible for payment of all expenses and taxes.
- Earnings – Since earnings are paid in the form of commissions, some months will be without pay. Budgeting is very important in this career field.
- Trade Tools – The real estate agent will be responsible for obtaining, at his/her own expense, any training, licensing and other trade tools required to continue working in the business.
- Errors and Omissions – A mistake can be enough reason for a lawsuit, and thus an Errors & Omissions insurance policy should be considered.
- Long Hours, Hard Work – Although the schedule is flexible, it will be necessary to work long, hard hours to earn commissions in the beginning. Once you get the momentum going, things should be easier
Is the Payoff Worth It?
A career in Real Estate can be fun, scary, difficult, challenging and rewarding – all at the same time. Those who are committed to serving your clients and helping them reach their goals can be an amazing experience in helping you achieve yours.