As everything has risk, here we present you the pros and cons of being a real estate agent. Real estate agents are licensed professionals who act as a negotiator and arrange the buying and selling in real estate transactions. Most of the agents work under a real estate broker who has additional training and certification. The agents completely earn on the commission basis, so their own ability to assist clients and make deals that are beneficial for the client as well as themselves makes their earning base. Though most of the real estate agent might say that they love their job and see their future in same, be noted that this career isn’t suitable for everyone.
If you are someone who are very good at marketing and making clients, if you have ability to enhance the transaction and influence your clients easily, then this career might appeal you a lot, else you would better stay off the line. Though the job can be lucrative and appealing, it requires a lot of hard work and sacrifices. But if you feel that working for 8 hours a day, 5 days a week is the perfect job scenario for you, then you won’t be appealed by the charm of real estate jobs.
Pros and Cons of Being a Real Estate Agent are as follows:-
Everything isn’t always as planned, there needs to be risk taken somewhere down the road and if you are a real estate agent, then risk is your middle name. To choose being a real estate agent, there are few pros and cons discussed below.
- Flexible schedule
You have your own flexible schedule for your work throughout the day. You can work as much and whenever you feel like working. You can walk around the house work and other tasks not being bound to work at the given schedule.
- Unlimited Income Potential
You being your own boss have unlimited potential to work and earn. There is no potential limit on how much you can make for living, but in general real estate professionals make 25% more than all other workers on average. You are in charge of your transactions and based on your skills, you can decide on how much you should be earning.
- Real estate is dynamic
All it takes is a good market condition and you will be earning much more than you can keep. When the market is high, you can just focus on working and not worry for what has to come next. It is the best time to plan for the future as well because real estate is dynamic, no one knows what happens next.
- Make others achieve their dreams
It feels good, really good when you can be the means of someone’s happiness. Being a real estate agent, you can fulfill other’s dream of having a good deal of a house they have always been dreaming of. It can fulfil their dreams while filling your bank account as well.
- No fixed location to work
Your home is your work place, you can work from your home, even outside the city area, anywhere you feel like working. Being an agent, you don’t have a fixed desk to work on, you can be working and travelling all at the same time.
Also Read: Pros and Cons of Refinancing Mortgage
- No fixed working hours
Having a flexible schedule, you end up working even more sometimes than you actually would do. The standard week hours are 40 hours and day off on weekends while being a real estate agent, you don’t have any such schedules and weekends. You work 24/7 as per the work load.
- Uneven income
During the high time, you can choose to just earn than worry, but in slow time, your income is limited and very less and your worries for the future starts. Without working, making deals, you don’t get a paycheck.
- Making deals for others can be stressful
While it is very pleasing to make others a happy deal, it can be pretty stressing to find a perfect deal for the client. Its you who has to roam around searching the property while client just makes the demand.
- High failure rate for new agents
If you are new in the market, the chances are that you will be failing a lot. Without experience, you can fail to gain the client’s trust while sometimes fail to make the correct commission you deserve. So, it takes very stressful time and dedication to be established as an agent.
- You are on your own
Liability or risk or loss, you are all on your own. Its easier to keep all the profit to own self, but to have all the losses and liability on your head alone depresses you, makes harder to take any further decision, and risk just gets bigger and bigger.
Conclusion on Pros and Cons of Being a Real Estate Agent
As a conclusion, it isn’t a fun job to take on as a career, rather it is something that demands a lot of time and devotion and patience to excel and become pro at. You can have your take on why you want to be a real estate agent, but without understanding the pros and cons of being a real estate agent, you would better back off from the decision. At the end, its your decision to make, but make it wisely.