A Career In Real Estate?
What's it like being a real estate agent? What are the pitfalls? How do you do it successfully?
You may know all about sales. You've sold refrigerators to Eskimos, and sure, you can even sell that ketchup Popsicle to a woman in a white dress. But if you've never been in the real estate business, then you've never really put your sales skills to the ultimate test.
What is it like to be in real estate?
To survive in real estate you'll need a great poker face and incredible endurance. Most people cannot bear the amount of rejection that realtors face daily. Realtors are paid only on commission, and their hours of work can be sporadic. Homebuyers are facing one of the most important transactions of their lives when they come to look at houses. And realtors have to realize that they are working with people who are trying to make these important decisions. Realtors need to have excellent people skills and be extremely patient. Deciding which house or condominium to buy isn't something people do on a moment's notice. It takes careful planning and consideration. It takes realizing what the person's needs are.
A good realtor helps these people make these decisions. A good realtor asks the questions that gives prospective home buyers the information they need to make an informed decisions. A realtor will help find the right match of a home for the buyers. And on the sales end, the realtor will try to find the right buyer for the home. It takes a careful balance of many skills in order to be successful.
How can you make money in real estate?
People starting out in real estate usually begin working part-time. They put in countless hours of work, yet they still have trouble earning significant pay. In order to make good money as a realtor you must be available to work at all hours, throughout the entire week. To be truly
successful you'll need to devote your entire life to your work. And even if you can put in the hours, you'll need to work effectively with every single client you serve. Selling commercial properties will help bring in the big bucks. Commercial properties sell at higher prices and earn the best commission.
To be a successful realtor you have to work well with your customers. You have to answer their questions, even if they ask the same ones time after time. You have to take them to perhaps dozens of properties until they find the one that is perfectly right for them. You have to try love assisting people in the buying and selling of property in order to be an effective and prosperous realtor. The ones who make the big bucks not only tend to work in both residential and commercial real estate, they also are highly organized. They can juggle 50 tasks at once and not skip a beat.
What are the pitfalls to being a realtor?
The real estate business fosters fierce competition. Realtors know that if they don't sell to potential buyers then they are pushing business right into their competitors' doors. You must work closely with each person that comes to you. You need to be flexible and do anything to make sure your customers walk away satisfied.
You need to also realize that being a successful realtor often is a 24-hour-a-day, seven-day-a-week job. You'll get phone calls at all hours of the day trying to set up showings of homes and trying to talk with buyers and sellers about the properties they're interested in and not interested in. It almost takes a full family commitment because of how time consuming it is. Your spouse and children need to know that real estate is now your life. But if you love it, go for it!