You’ve heard a lot about the super flexible schedule, the perks of being your own boss, and the potential to make as much money as you want. Sounds like a dream job, right? Well, there are many things you need to think about before jumping headfirst into the world of real estate.
#1. Flexible Schedule
In real estate, flexible schedule means making yourself available 24/7. To be successful, it may mean working every weekend, and late into the night. It means always putting your client first, even if you’re on vacation. Yes, you get to make the schedule, but it can be a crazy full schedule.
#2. Being Your Own Boss
It is so nice being your own boss. It’s such freedom! It also means that you get the stress of hitting your sales goals, and not knowing if you’re going to get a paycheck. You really have to think big when choosing a career in real estate. It’s a business, and you’re the boss. You’re the independent contractor, so it will be up to you to handle the the taxes, and expenses. It may be wise to hire an accountant, because your expenses, education, etc. are all tax deductible, and the accountant will be able to help you take advantage of those right away.
#3. Finding A Broker
Before you can become active, you must find a broker to associate with. You can choose a national company, or a local one. It’s up to you. I personally chose Carpenter Realtors, located in Indiana, because of the endless tools they offer to their broker associates. The best thing to do is to interview multiple brokers to see which one is the best fit for you. Remember, they WANT YOU, so don’t be nervous about meeting them.
#4. The First Few Years
If you want to be a successful agent, you might have to struggle for the first few years. As any new business venture, it takes time, effort, and consistency to get it off the ground. Your business will work mostly on the referrals and reputation that you built up in your first few years. If you maintain that effort, your business will bloom.
Worth of mouth will be your best and most effective marketing approach. The more connections you have, the bigger your business will be! You must grow your business, become knowledgeable, and maintain a great reputation to get your best clients. Hard work does pay off! People. This business is 99% working with people. If you don’t like working with people, then this business isn’t for you. Even if you love people, there will still be an adjustment. This was challenging for me. I love real estate, but am also a major introvert. Finding the courage to talk/approach to people was and is my biggest obstacle.
“Entrepreneurship is living a few years of your life like most people won’t, so that you can spend the rest of your life like most people can’t.”