What you put in is what you get out! Real Estate agents can make good money.
Pros: Your income isn’t limited by an hourly wage or a set monthly salary. As a real estate salesperson, your income is largely dictated by the time you invest and the potential is huge! If you are doing both sales and rentals, you could get a small monthly income from your rental properties, which puts fuel in your car and airtime on your phone, and a nice “bonus” when you get a sale through!
Cons: Getting the sales to come in can take some time and even after a sale agreement has been signed, it can still take a few weeks before you see the fruits of labour in the form of your commission. Depending on the market you cover and existing relationships you can tap into, it can be a feast or famine situation.
Real Estate work can be very social!
Pros: Real Estate work is all about meeting people and building relationships. A good real estate agent does not spend his or her time sitting a desk and in front of a screen! They are out, talking to people, socialising and getting properties onto the company’s books!
Cons: Whilst it can be fun, it is also very demanding. In some cases your clients expect you to pull buyers or properties out of your hat and keeping everyone happy all the time, can take its toll on you.
Real Estate agents can choose their own work schedule.
Pros: You determine what hours you work. It is by no means a boring 8 to 5 job. Within reason real estate agents set a daily work schedule that works for them. Remember point 1 though – what you put in is what you get out.
Cons: It sometimes feels like you are on call 24 hours a day, 7 days a week, 365 days of the year! Clients will expect you to work around their schedules and trying to balance both buyer and seller’s (or tenant and landlord’s) schedules with your own, can sometimes be a massive feat. Are you prepared to work on weekends, public holidays or “after hours”? Are you prepared to stay up to take that call from a client who is in a different time zone and reply to messages at all times of the day and night? These are all important factors to consider.
You are helping people find their dream homes!
Pros: Whether you are in sales or rental, real estate can be such a rewarding industry to work in. You may be helping the newly-wed couple find their first home as “Mr & Mrs”! You may be helping someone find that investment property that secures an income for their future! You can receive genuine satisfaction from helping clients find the perfect home or sell their property at a price they are happy with. It is an exciting time and you can play a huge part in people’s happiness!
Cons: Real estate transactions generally are one of the most stressful times of a client’s life. You can go from being the best person on earth to the most evil person on earth if a deal falls apart at the last minute! You need to be quite thick-skinned, whilst staying compassionate and professional. Confidence in your skills and the ability to stay calm and keep a level head when things don’t go as planned, are essential. No matter how much time and effort you put in, if the end result isn’t what the client had planned and was hoping for, it can affect your referral network, your reputation and in turn, your income.
If the pros excite you and the cons don’t scare you, then a career in Real Estate could be perfect for you!
For more information on the diverse and exciting world of Real Estate please contact us at Genesis Real Estate Africa!