With so many popular TV shows such as Flip or Flop, Property Brothers, Fixer Upper, and the Million Dollar Listing franchises, many people have become interested in the world of real estate. On top of that, the real estate market has been seeing a steady increase in housing sales as well as in home prices. So you might be wondering if a Real Estate Career is the right choice for you.
To keep things simple, if you are looking for a rewarding career that allows you a flexible schedule and an entrepreneurial lifestyle then the answer may be yes. There are many benefits to a real estate career. Listed below are some of the more popular reasons people choose to become a Realtor®.
Income Potential
The first things that typically comes to people’s mind are “can I really make any money doing this?” and “if so how much?”
The answers are yes and it depends. The fact that the Association of Realtors® is the largest trade organization in the world, definitely proves that there is money to be made in the real estate profession.
Now that just leaves us with the question of how much, and that depends, but there is not a limit. As a real estate professional, your income potential is reflected by what you are willing to put in.
It is not uncommon to hear of agents earning six-figure incomes, and even seven! Now that isn’t going to happen overnight once you have your license. You have to be willing to put in the time and energy to build your business, which leads us to our next area of consideration, being rewarded for your efforts.
Being Rewarded for Your Efforts
The flexibility of the real estate industry is likely the reason why so many people have found a home in the profession of real estate.
Now there are exceptions to this rule, but how many times in your current profession have you felt that your efforts aren’t appreciated? If you’re like many Americans in this day and age, this probably happens much more often than you would like.
In the real estate industry, you are directly rewarded for your efforts that are put in. The more you put in, the more you get out. It’s no longer the question as to whether what you’re doing will be good enough for your boss to consider you for a raise. In real estate the question now becomes will this result in a return on my investment?
To help you get a better idea of how much input equals what output, take a look at our article on How to Write a Real Estate Business Plan. You’ll find an interactive calculator to help determine what you need to do to achieve your income goals.
Being Your Own Boss
How many times can you remember having a good idea that was turned down by higher ups? It’s a frustrating feeling when you know there are ways to do things better.
As a real estate sales associate, even though you are required to register your license with a broker or owner-developer, you get to be your own boss. Your broker or owner-developer is there to support you as well as ensure that you’re not doing anything illegal or unethical. Outside of that, you get to make the decisions.
Real estate sales associates are typically classified as independent contractors, so it’s like you’re a business within a business. There aren’t limits of when, where or how much you have to work.
So if you’re willing to put in extra work, you’re going to be reaping the benefits of it later.
A Flexible Schedule
Remember that talk about being your own boss? Well, guess what boss, you decide when you are going to work.
Not really a 9-5 person? Want to work from home? Only looking to work on a part-time basis? As a real estate agent, you don’t have to follow a set time schedule or go to an office every day.
Again, you are making the decisions and you can set your appointments and meetings around your schedule. With this type of freedom, it is easy to make real estate a part time job if you wish to work only a few hours a week, or book yourself up completely and watch your hard work pay off!
Want to take time off? You tell me, boss. Again you’re calling the shots, so no need to get your time off approved. You can even make an agreement with another agent or your broker to handle your active deals while you’re away.
Career Diversity
When most people think of real estate, they think about helping people buy and sell their homes. That is just one of the many facets of a career in the real estate industry.
There are several options within the real estate sector that you can choose to pursue. In fact, the real estate industry offers one of the widest career selections in the business world.
With a Florida real estate sales associate license, in addition to working in residential sales, you can also choose to work with commercial, industrial, and agricultural properties.
Want to work in the field of buying and selling businesses? That’s called business opportunity brokerage and your real estate license is good for that too!
With the current market, rental properties are a large sector of the real estate industry. With a Florida real estate sales associate license, you can engage in property management, where you manage other investors properties for a recurring monthly fee.
You can also work on the opposite side of a leasing transaction as a rental agent. As a rental agent, you help find potential tenants a suitable rental in exchange for a commission or fee paid by the landlord.
Once you have extensive experience and knowledge under your belt as a real estate professional, you can even engage in real estate counseling. As a real estate counselor, you are paid by investors and developers for your insight and knowledge in a transaction, without even being involved in the transaction!
The Time is Right
Now if you’re still reading this, you probably like what real estate has to offer. But now the question is, is now a good time to enter the real estate industry?
The housing market is on a healthy recovery trend. According to RealtyTrac, a total of 3.1 million U.S. existing single-family homes and condos sold in 2015, up 7.5 percent from 2014. The U.S. median home price at the end of 2015 was $206,500, up 10 percent from a year ago. Among 87 major metropolitan statistical areas analyzed for the report, 79 (91%) posted a year-over-year increase in median home price at the end of 2015.
Tampa has been feeling the rise, posting a 15% increase in median home prices.
According to Mike Pappas, CEO of Keyes Company which covers the South Florida market, “South Florida real estate recorded one of the best years since the Great Recession with a strong double-digit, year-over-year price gain.”
It’s Never Been Easier to Start A Real Estate Career
Not yet licensed as a real estate professional? With classroom courses that can be completed in as little as two weeks and online courses that work around your schedule, obtaining your Florida real estate license and starting a real estate career has never been easier.
Learn about the licensing process here: Florida Real Estate Licensing Process
