If you love working with people, having a flexible work schedule, and unlimited income potential, then you may find that a career as a real estate agent is perfect for you!
What does a real estate agent do?
Real estate agents represent either the buyers or sellers of properties, and they usually earn a percentage of the property’s sales price as commission. Real estate agents assist buyers and sellers by performing property analysis, running advertising campaigns, answering phone calls, and looking for suitable property listings.
Benefits of becoming a real estate agent
A career as a real estate agent benefits your professional and personal lives. Knowing these advantages can help you decide if you want to earn your real estate license. Here are some advantages of this career:
1. Flexible work schedule
Working as a real estate agent, you can schedule your day to fit your life. Real estate agents do not have fixed working hours, and this allows for a better work-life balance. The ability to set your work schedule can increase your job satisfaction if flexibility is important to you.
2. Unlimited income potential
As a real estate agent, you determine your income. The more successful you are at selling properties, the higher your income will be. Your income is unlimited and depends on how successful your sales efforts are.
3. Helping clients
Helping a client find their dream property may give you some job satisfaction. Making your clients happy may give you a sense of purpose and increase your motivation to help more clients find their perfect property.
4. Career mobility
Real estate agents often work for themselves by building their brand and business. There are many other job opportunities for real estate agents with some practical experience. Examples of related careers include becoming a property manager, office manager, or property investor.
5. Business growth
Whether you start your own business or work for a company, your success as a real estate agent can lead to business growth. Business growth could mean hiring additional staff members to help with administrative tasks.
6. Become a community expert
If you work in one community, you can become a community expert. As you gain experience, you will learn industry knowledge your clients can rely on when searching for a commercial or residential property.
Disadvantages of a real estate agent career
No career is without disadvantages. Consider the disadvantages of a career as a real estate agent to determine if this is the best career for you:
1. Possible long working hours
The flexible hours you have as a real estate agent may sometimes be challenging to manage. Real estate agents often have client meetings during weekends or in the evening after office hours. Unless you manage your schedule well, your working hours may exceed the typical 40-hour workweek.
2. Few repeat clients
Most clients you work with will either sell a property or buy one. The amounts involved are large, and most people don’t buy and sell properties often. Clients may also find the process stressful, requiring extra effort from you to keep them updated to help ease their concerns. Assisting clients in finding their ideal property may make this career worth it for you.
3. Possible slow first sale
New estate agents may need up to six months to make their first property sale, and it may even take longer in communities where the competition levels are high.
How to earn your real estate license?
In Minnesota, you need to complete 30 hours of approved pre-licensing education. Then, you need to pass the Minnesota real estate examination to earn your real estate license. The exam has 80 national questions and 50 state-specific questions. Once you complete the exam, you can choose a sponsored broker to complete your application process to start your real estate career.