Is Real Estate a Good Career Path? Here’s What to Know

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You may be thinking of becoming a real estate agent if you are considering shifting your career paths or starting a side hustle to earn more money. How do you become a real estate agent? Can it be pursued as a full-time job? And given today’s economy, is becoming an agent a viable option? If you are overwhelmed by these and other questions, this brief guide can come in handy in helping you decide if real estate is worth pursuing as a career path.

What Is the Real Estate Market Like Right Now?

The housing market is ever-changing, and if you plan on becoming a real estate agent, it may be an excellent time to develop your prediction skills to stay ahead of the upcoming trends. Experts are forecasting an increase in housing prices, which is good for homeowners and puts potential buyers at a disadvantage. 

The Pathway to Become a Real Estate Agent 

Becoming a real estate agent does not require a college degree. Depending on the state, which you can find more about on this website, it takes about six to eight months to finish the mandatory courses and appear for the licensing exam. You may be required to work with a licensed broker for a few years before opening your own practice. However, the time frame is dependent on your geographic location, the course being taught, and whether you are taking virtual or physical classes.

Benefits of Becoming a Real Estate Agent 

Choose Your Own Hours

Businesses around the world are slowly moving from the conventional 9 to 5 days. They are now allowing their employees to work flexible hours. However, the change is gradual and may take years before it is entirely in effect. A career in real estate provides you the freedom and flexibility to do things the way you like. Whether you prefer to work in the morning or the evening, you are free to set your own hours!

You Are in Charge of Decisions

One of the key benefits of choosing real estate as a career path is that you get to be your own boss. While most states will ask you to find a broker to manage your work, most are either temporary or not interested in interfering with your practice. An advantage of having a broker is that they can support you and lower liability risks!

You get to decide the working hours, and the way systems are set up, and you can introduce processes to increase efficiency without having to explain them to your superiors. A career in real estate is not limited to selling houses, and you can have your own team of agents working for you with the proper license. Research thoroughly before specializing in a particular field.

Higher Income Than Your Peers

Unlike many, your income will not be dictated by a salary range or depend on an hourly wage. The profile you will yield depends entirely on the productive time you invest in the practice. To maximize profits, you can either acquire the correct license and expand your brokerage or build a team of real estate agents. The average annual salary for a real estate agent is approximately $48,340, and for a broker, it is $62,010.

The Multiple Career Paths in Real Estate

By now, you must be wondering what is the difference between a broker and a real estate agent? A career in real estate is not limited to being an agent, and it provides potential learners with a ton of flexibility. You can be a broker, asset manager, property manager, mortgage broker, and even an escrow office. It is essential to get extensive literature on the varying fields as each comes with its respective pros and cons. 

Is It Worth It to Pursue Real Estate Full-time?

Now that you are familiar with the challenges of real estate, it is up to you whether choosing a career in this field is worth the effort. If you have an entrepreneurial spirit and cannot bear the thought of being tied down to your desk for nine hours every day, choosing a vocation in real estate might be the right option for you. The profession asks for competitive marketing, communication, and selling skills. Your salary will directly result from the efforts you put in to sell the properties. 

While a career in real estate comes with its financial perks, the panorama of the industry is constantly changing. While staying ahead of the trends can be a hassle, you also get the opportunity to expand your skill set. If you do not feel comfortable with the numerous available options, you can decide to deal with commercial or residential properties strictly. Whatever you may choose, it will not be without its challenges.

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