Work from home, wear what you want, and have no upward limit on what you can make annually?
Um, yes, please!
What line of work is this? None other than real estate sales.
There are over 3 million licensed real estate agents in the United States, according to the National Association of Realtors. And they make an average annual salary of $43,076, with top-sellers clearing much more. So we’re talking 6-figures in some cases.
Read on, and we’ll break down the top five reasons to consider a career in real estate sales.
What Is a Real Estate Agent Anyway?
According to Investopedia, a real estate agent is a licensed professional who arranges real estate transactions. They connect buyers with sellers and act as their representative for negotiations.
Real estate agent is a general term. It can include; brokers, buyer’s agents, dual agents, realtors, and seller’s agents. Each has a specific expertise.
In real estate sales, the agent is compensated by a percentage of the property’s purchase. This is called a sales commission.
If you become a realtor, your paycheck is dependent on your ability to make deals. The more deals you can make, the more commissions you can gather.
Now, let’s dive into the top reasons you should at least consider a career in real estate sales.
1. No College Degree Required
There are many occupations that offer the potential for a six-figure income. But they also require significant schooling.
Not with real estate sales.
According to the National Association of Realtors, only 43% of active realtors have a bachelor’s degree or higher.
To become a realtor, prospective agents must
- meet specific age and educational requirements
- take pre-licensing courses
- pass the state licensing exam
The requirements to obtain a real estate license vary from state to state. So make sure you double-check the conditions of your state.
Decent interpersonal skills and some level of customer service experience are also helpful traits.
2. Training Courses for Real Estate Sales Are Accessible
Although you don’t need a college degree to become a realtor there are some education requirements. You will need to take a certain number of hours in real estate coursework.
But you don’t need to shell out a ton of money or go to an institution to do it. In general, you can expect to budget about $3,000 in basic start-up costs.
Real estate courses can be taken remotely, on your own time. Check out this ‘Best of 2021‘ list to find a school that you like.
3. You Never Stop Learning
The real estate market is constantly changing. Which means that you will never stop learning if you want to keep up.
Real estate agents are required to take a certain number of continuing education units for each licensing cycle.
These courses come in all formats. Ranging from in-person events, online courses, one-on-one coaching, and even real estate conventions.
Over time, you will inevitably develop a level of expertise. This expertise is a doorway to making even more money.
4. Set Your Hours
As a real estate agent, you become your own boss. As a result, you have complete control over how you manage your work.
What are some of the benefits of being your own boss?
- no dress code
- work from anywhere
- decide your income
That kind of freedom isn’t for everyone. If you like the idea of a flexible schedule, working from anywhere, and choosing your income, real estate sales is a great career choice.
5. Meet New People
If you decided to change careers into real estate sales, get ready to expand your sphere of influence.
According to the National Association of Realtors, 30% of most realtor’s business comes from repeat clients or referrals.
That means networking is a crucial part of becoming a successful real estate agent.
As a new realtor, growing your network and doing good work for people is vital. The return on such investments comes in the form of referrals and ultimately more sales.
Real Estate Sales Career Outlook
No matter what else is going on, people will always be buying or selling houses. That means that a career in real estate sales is a solid choice.
The Bureau of Labor and Statistics projects the number of real estate agent/broker jobs will increase by 2% through 2029.
Though this is slower than average, demand will nonetheless continue for these workers.
How Do I Get My Real Estate License?
This is a general overview of the steps you will take to become a real estate agent. Make sure to check your state’s licensing requirements first.
Take a Pre-Licensing Course
This will cost you about $200-$300. Courses can be taken online or in a classroom. So think about how you learn best and how much time you can dedicate.
In the course, you will become familiar with
- real estate principles
- real estate terms
- best practices
- legal aspects
Information on licensing requirements can be found on your state real estate commission’s website.
Take the Licensing Exam
This will cost you about $100-$300. Your state real estate commission’s website will give you instructions on how to sign up for the exam.
The exam is usually two parts. One is on federal real estate laws and general real estate principles. The other is on state-specific laws.
The exam is multiple-choice questions and you can take it as often as you want over a two-year period. If you don’t pass the exam in two years’ time, you have to retake the pre-licensing course.
Activate Your License
Once you pass the test (congratulations!), you need to activate your license. This is done through your state’s real estate commission’s website. The activation fees vary but are usually between $200-$400.
Next, pay for membership to the multiple listing service (MLS). This will allow you access to listed properties, tax information, and market trends.
Costs vary from state to state here. In the Washington DC area expect to pay $1,136 annually. In Riverside County California, it’s only $220 per year.
Become a Realtor Today
Do you like to solve problems, work with people, like houses, and don’t mind a bit of hard work? Then real estate sales could be a great career path for you!
Keep in mind that selling real estate is not going to yield quick money. But with a bit of sweat equity and persistence, you can make a comfortable living selling real estate.
Are you looking for more helpful information? Then, check out the rest of our blog. It’s full of insightful content carefully curated for the business savvy.