If you have a natural talent for selling and a strong people skills, you may have considered becoming a real estate agent. It can be a great job that offers great flexibility, allows you to meet a lot of interesting people in various fields, and can be very lucrative depending on your success. Being a real estate agent also comes with many challenges, and you need to know what a real estate agent really looks like before you start. Here are some of the hard truths of life as a real estate agent.
Lenders are everything
One of the first things you will have to worry about is not finding clients, but building a strong relationship with a lender. Working with a bad lender could drive you crazy. Some will take forever to respond and could cause you to lose sales. Or they may charge exorbitant closing costs. A good lender, on the other hand, will make the whole process easier and make sure the transition goes smoothly.
Forget the benefits of 9 to 5 life
Many people vilify the 9 to 5, but only realize their benefits when they are alone. Things like going on vacation as a real estate agent can be very difficult if you are going through a difficult year.
You will have to make the necessary arrangements for vacations and days off. You should also take out insurance in case you can no longer earn and plan for your retirement yourself. These are all things that can get very stressful when you don’t know when your next sale will be.
Be aware, however, that you don’t necessarily have to be a slave to your job to be a successful real estate agent. If you have too much work to do and want a break, there are professionals you can work with who will make it easier for you, like showing agents, for example.
There is a lot of benefits of showing agents and partners open doors. Working with them will allow you to defer some of your open house responsibilities. It could help you manage your workload and focus on the big deals that are more likely to go through. It could also help you bring some balance in your life which will be very important if you want to have a long career in this business.
Buyers will be on your last nerd
Working with buyers is one of the hardest parts of the business. They will try to pull all kinds of tricks on you. Some will take you for a ride just to flake off at the last minute. It can lead to a lot of disappointment at first, but it’s something that you will have to come to terms with. They often say that buyers are liars in this industry, so take anything anyone tells you with a grain of salt.
It’s a Pay to Play Business
You have to be prepared to pay to get results in this business. You can’t expect people to come to you. You have to actively sell yourself, and that costs money. The best solution would be to work with a large agency and pay for one of their marketing packages, even if they seem expensive.
Real estate is like no other field, and being a real estate agent is like no other job. Therefore, you need to be prepared for the specific challenges of working together before you start.