Is becoming a real estate agent a fulfilling career? What can you expect to do as a real estate agent? Let's talk about what kind of person makes a great real estate agent, and what you should be prepared for.

Becoming a real estate agent can be one of the most fulfilling careers out there. This is a career where sharp social skills and an analytical brain are combined, and where your work ethic will tie directly to your compensation.

 

The Pros of Being an Agent

Let's talk about the benefits of being a real estate agent before we get into what else you need to consider. With thousands of motivated individuals looking to becoming a real estate agent each year, let's figure out why this industry is so attractive.

Uncapped Potential

It's true that there is practically no ceiling as to what your potential earnings could be. Although you work on a commission-only basis, the amount of work and clients you take on is up to you.

Top agents will often do 5+ deals per month, with each deal (depending on your market) having the potential to have commissions above $50,000 each!

Interesting Work

The work you do each day is different, as each client will have different requests and needs. This means that each client you serve allows you to experience something new and learn something new.

Career Mobility

As an agent, you are working for yourself. You build your own business, own your own brand, and serve your own clients. You can choose which markets you want to serve, and what type of opportunities you want to seek. You don't have someone looming over your head micro-managing you, and instead, you are able to take the wheel on your professional life.

 

What Cons Should I Expect?

As with many great things, there will be some caveats. Let's talk about some of the overlooked aspects of getting started in real estate that many don't talk about.

Longer Than Usual Hours

Unlike the traditional, 9 to 5, 40 hour work week jobs, most real estate agents will work beyond this schedule. While you are your own boss and you set your own hours, you must also set yourself apart from the rest. This often means working during weekday evenings, accommodating to your clients' schedule on the weekends, and staying up late to make deadlines.

A Rough Start

Unless you already have potential clients ready to go, the beginning stages of your real estate career will mainly be spent prospecting new clients. You are starting from scratch, with no referrals and no existing customer base. Since you work on a commission-only basis, this may mean that you don't even make a single dollar your first year(s)!

An Uphill Battle

Let's say you get your first client, and you closed your first deal. Congrats you just made five to six figures off of one deal! However, you must now do this process again. It's time to prospect another client, build a relationship, and close the deal. Until you are a couple of years in and have a book of repeat customers / constant referrals, you will need to constantly grind for your next paycheck.

 

What kind of person makes a top agent?

1. Constant Learner

Top real estate agents are constantly learning in order to provide value to their clients. High performing agents are useful to their clients even when their clients are not looking to make any commission-able events. You must stay up to date on the latest topics and trends in real estate.

2. Powerful Networker

It's no secret that the real estate business is built off of connections. Successful real estate agents have a strong network of contacts in the markets they serve, extending past just clients and referrals. Real estate agents should have strong relationships with other top agents, active buyers and sellers, mortgage lenders, home inspectors, and renovation specialists.

3. Attention to Detail

High performing agents need to be attentive to the needs of each client. They should have the requirements of each client organized and prepared at all times, so when time comes, they will have the ability to best serve each client individually.

4. Hustle, Tenacity, and Willpower

Especially in the beginning stages of being a real estate agent, your main task will be to prospect new clients. While this can open the door to a lucrative career, it's also a path of constant rejection and hardships. You need to be able to stay positive in the face of "no's" and have the motivation to continue on your priorities.

5. Entrepreneurship Mindset

While you may not own a brokerage at the beginning, you will own your book of business. This means that you will be working as an entrepreneur, running your own business. While you may even have a mentor, it will be up to you on how hard you work each day, what you prioritize, and how you will execute each of your tasks.

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While the real estate agency career can be a very lucrative and attractive path, it definitely is not for everyone. However, your best first steps are just to get started.

Start leveling up your knowledge about real estate, reach out to local brokerage shops, find a mentor, and get your license! We're excited for your journey.