There are many reasons why people set their sights on a career in real estate. From unlimited earning potential to the freedom and flexibility, the benefits of a career in real estate seem endless.
Perhaps that’s why the United States Bureau of Labor Statistics expects the overall employment of agents and brokers to grow by 4% between 2020 and 2030.
Oftentimes, there are 10 reasons why people start a real estate career:
- Unlimited earning potential
- Flexible work schedule
- Work from anywhere you want
- You're in charge of your business
- Work with people you like
- No college degree required
- Low barrier of entry
- Every day is unique
- Choose your sector
- Your network is always growing
Let's dive into each reason to learn why it makes so much sense.
Unlimited earning potential
A real estate agent is paid a commission when they represent a client through the transaction process. The commission is based on a percentage of the final sale of the home.
As a real estate agent, your yearly salary depends on many factors. These include: number of completed transactions, your commission percentage, and your brokerage commission split. This is why your earning potential is unlimited. Nobody else dictates how much you earn in a year. It is entirely dependent on how many properties you sell.
Flexible work schedule
Real estate agents work as much or as little as they want. Because real estate agents are paid a commission, they choose to work full-time, part-time, or in their spare time. Remember that the income will likely be higher the more hours the agent dedicates to their job. That's because they dedicate more time to finding new clients and more work.
Work from anywhere you want
A real estate agent can work from anywhere. Most agents work from home or on-site at the brokerage firm that sponsors them. However, the industry affords agents the flexibility to work from wherever they choose. In fact, an agent can work from an island in the Caribbean! But, I don't recommend that. What if a client wants to tour a house in Sacramento?
You’re in charge of your business
A licensed real estate agent can't work without being sponsored by brokerage. Agents represent their broker. But, this isn't like the standard employee-boss relationship we associate with 9 to 5 jobs.
Agents are like entrepreneurs. They finance expenses, take ownership of their actions, and find their own work. They sign with brokerages to offset the legal responsibility of running their business. That's why agents split their commission with their broker.
In other words, agents run their own business inside a brokerage. The broker won't tell them when to show up to work. Agents are free to make their own decisions. If they want to work in the afternoons only, that's fine!
Work with people you like
The beauty of the an agent's freedom is that you can enter into contracts on your terms. If a client asks an agent to represent them, the agent has a right to turn them down. It is entirely up to the agent to decide who they want to work with.
Many agents exercise this freedom when they pick clients. If the agent ever gets a "bad feeling" in their gut about a client, they don't have to work with them.
No college degree required
People don't need a college degree to become a real estate agent. This makes real estate one of the highest earning careers for people without a college education.
In fact, most people enter the industry without experience in sales. Learning on the job is popular quality of being a real estate agent. That's because most brokerages provide training courses, workshops, and seminars. Agents who succeed always focus on learning new skills and ways to run their business.
Those who don't prioritize learning and growing struggle the most. Just because you don't need a college degree doesn't mean you don't need to learn.
Low barrier of entry
Getting a license is more accessible and affordable than most people think. While getting a license won't happen overnight, it's by far easier and quicker than other career options.
Although the time frame will vary by state, the average time to complete real estate school and pass the real estate licensing exam is approximately 5-6 months. There are hundreds of real estate schools that helps students get their license, study for the exam, and launch careers. CA Realty Training, in our opinion, is the best. But we could be biased.
Every day is unique
Every day is different for real estate agents. Because agents have flexibility, they can schedule each day however they want. Some days, agents need to give an open house whereas another day may involve presenting a sales pitch to a potential seller.
Whatever the agent needs to accomplish, they can stack their calendars with new and exciting activities. This keeps the agent's job ever changing and engaging.
Choose your sector
Another aspect of a real estate career is choosing your specialty area. Some agents love working with families looking for a new home, whereas others may love working with investors buying commercial property.
Real estate markets include:
- Commercial
- Agriculture
- Raw land
- Residential
- Luxury Markets
- Condos
- Planned Developments
A career in real estate doesn’t necessarily mean that you need to work as a real estate agent, either.
In addition to being a buying or selling agent, other typical real estate jobs include:
- a real estate investor
- a broker
- a property manager
- a real estate appraiser
- a mortgage broker
Your network is always growing
Agents meet new people every day. Whether it's a lead at a coffee shop or new mentor, an agent's network is always growing. For agents to be successful, it has to!
Agents will also meet interesting people who are leaders in their community, local celebrities, big time celebrities, representatives, and other high performing people. The reason why is because everyone uses real estate. The type of people who are buying and selling are typically people with wealth. Agents still represent these people, because they need a home, too.
Meeting interesting people is what keeps people interested in real estate.
Final thoughts on why people join the real estate industry
As you can see, there are many reasons why people become real estate agents. Unlike most conventional 9 to 5 jobs, a career in real estate offers freedom and flexibility. Additionally, agents work with interesting people and manage large investments. The excitement factor is ever present.
