Get the Facts! What Is It Like to Be a Real Estate Agent?

The real estate agents on television
always seem to be incredibly busy and prosperous as they whisk people through
luxury homes for sale. While this scenario is possible, it is not the typical
day of an average agent. If you dream of showing houses and making big money,
it’s time to get the facts. What is it like to be a real estate agent today? Find
out now!

Investment Required

Investments of time, money, and effort
are required to become a real estate agent. Someone who wants to be an agent
must pay for the pre-licensing course and complete the required number of hours
of coursework. There are also state fees for taking the licensing exam and
getting the license. Agents typically must work under a real estate broker as
independent contractors who are responsible for paying their own taxes. Plus,
agents also need to cover marketing costs such as business cards, open houses,
and promotional brochures for new listings. The old saying about spending money
to make money is true when it comes to becoming a successful real estate agent.
Better Homes and Gardens® Real Estate affiliated
agents have access to a wide range of marketing
tools

to help boost sales.

Flexibility and Balance As an Agent

The appeal of working for yourself is a
driving force for many people who want to be agents. A flexible schedule makes
it possible to fit other responsibilities into the day without the pre-approval
of a boss. It also means making difficult choices. For example, an agent may be
faced with attending a closing for a high-profile client to going to a child’s
band concert. Agents are continually striving to achieve a work-life balance
that allows them to be profitable and still enjoy the freedom of working for themselves.
Another benefit is agents write their own paychecks. An agent who is willing to
put in time and effort can earn a good income. With clients’ schedules in mind,
this often means working evenings and weekends – the time many people want to
be unwinding at home.

Working on Commission

Agents must adjust to receiving
commission checks rather than a weekly paycheck. The commission is paid when an
agent closes a deal, which can take months. Realistically, an agent can work
for a few weeks or months without receiving a paycheck. If the deal falls
through, the agent does not get paid. On the other hand, agents who sell luxury homes can earn a large
commission for an equivalent amount of work. The nature of earning commission
can be unpredictable, and agents must plan for their expenses accordingly. Some
agents work part-time jobs while others learn to save money until the next
commission check is drawn.

Being an Agent Isn’t Easy

Real estate agents have the benefits of
being professionals who can have a rewarding career for years to come – but
it’s not easy. It takes ongoing work to stay connected with past clients and
attract new ones. Agents need to drum up business to remain profitable by:

  • marketing homes for sale
  • promoting themselves
  • making phone calls
  • replying to texts and emails
  • tracking listings and writing listings
  • scheduling appointments
  • updating social media, blogs, and website
  • preparing comparative market analysis (CMA) reports
    and budget reports
  • attending open houses
  • networking with other professionals at seminars and
    locally
  • providing customer service to clients
  • following up on leads
  • completing and submitting real estate documents

An agent might be in the middle of
writing a blog or marketing a home when a key client calls to see a house. Top
agents effectively shift priorities to maximize every opportunity as it arises.
Many complete additional courses to become a real estate broker or
appraiser to diversify their income.

People Who Need People

Agents spend much of their time working
with clients and other people involved in the process. Working directly with
people requires patience and the ability to compromise. Agents must be calm
when clients are indecisive. And clients expect expert answers when they ask an
agent questions about the process. Agents may show dozens of homes to a client
who decides not to move, which means earning nothing for the time they spent.
Sometimes an agent must share the commission with others, such as a listing
broker or buyer’s agent or broker. Profitable agents are always gracious and
understanding, realizing they might work with these people again.

Master Many Skills

A real estate agent does more than list,
show, and rent properties. Modern agents must be well-versed in market trends,
promotions, SEO, writing, communications, lead generation, and branding to get
noticed in a competitive marketplace. Agents must also know how to run a
business, maintain databases, and establish an organizational system to ensure
no leads fall through the cracks. It can take months or years for agents to
hone these essential business skills, and practice is the key to success.

What
is it like to be a real estate agent working for a leading real estate broker? For
those who don’t give up after the first year, it becomes a rewarding and
enjoyable career. Agents are often integrated into their neighborhoods and
known as local authorities. An agent who can connect with people, stay on top
of real estate news, and help others has a greater earning potential.

The post Get the Facts! What Is It Like to Be a Real Estate Agent? appeared first on Clean Slate.

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