Can you imagine working in a flexible career where you can decide how many hours to work and how much money to make?
Here are some pros and cons of being a real estate agent:
- Becoming a real estate agent is quick and easy.
Pros: In South Carolina, you can complete the required training and get licensed in a matter of months.
Cons: There's an investment of time, effort and money before licensure, more after you are licensed, and no income guarantees.
- As a real estate agent, you're the boss.
Pros: Once you start working, you are an independent contractor, and you run your business. There are really no limits to growing your business.
Cons: As an independent contractor, you have to market your business, get leads, get listings, prospect for buyers and sellers, satisfy your client's needs, and manage day-to-day business operations. Many new agents don't realize how much work it takes to be successful.
- A real estate agent makes a good income.
Pros: A real estate agent is not salaried and not bound by an hourly wage. Your income is based upon how hard and smart you work and the productive time that you invest in your business.
Cons: In the beginning, cash flow will be negative. Getting your first sale might take some time - and then another month or two before you get paid. New agents need to have money to live on.
- A real estate agent's schedule is flexible.
Pros: Selling real estate is NOT a 9-to-5 job! Successful real estate agents spend a lot of time socializing, networking, meeting people, and continually prospecting for business.
Cons: While you do control your own work schedule, you must satisfy your client's needs. That means working when they are not working, which could be evenings and weekends.
- A real estate agent's gratification is huge.
Pros: Helping buyers or sellers with their largest transaction in life is exciting for them and gratifying for you. When it all comes together, you all share in the satisfaction.
Cons: Real estate transactions can become difficult and emotional, so it's imperative that you, have outstanding negotiating and people skills to help clients when things don't go as planned.
Larry Stoller is the broker-owner and Realtor with Real Estate Five of the Lowcountry. Larry@RealEstateFive.com or RealEstate-Five.com