Becoming a Real Estate Agent as a Senior or Retiree

Some view retirement as an opportunity to spend more time on the golf course or to pursue hobbies. However, others may feel uncomfortable with a more leisurely schedule and are compelled to use their retirement to try new careers.

If you have an entrepreneurial spirit and a passion for real estate, perhaps it’s time to complete a career pivot and become a real estate agent. Let’s explore the benefits of embracing a second career and why real estate is the perfect career choice for retirees. Finally, we will explain the straightforward process of getting your real estate license in Ohio.

Reasons for Embracing a Second Career in Retirement

If you’re on the fence about how to spend your retirement years, here are some of the benefits of starting another career.

1. Pursuing passions

With the free time that retirement offers, seniors may finally have the opportunity to pursue their long-held passions and interests. This can include starting hobbies and volunteering, but it can also include starting a business related to something they love.

2. A sense of purpose

Retirement can lead to a loss of identity and purpose for some people. Engaging in a new career allows older adults to continue feeling productive and fulfilled, contributing to their sense of self-worth.

3. Intellectual stimulation

Many older adults are eager to continue learning and challenging themselves intellectually. Starting a new career allows them to acquire new skills, stay mentally sharp, and engage with different fields or industries.

4. Social interaction

Workplaces provide opportunities for social interaction and camaraderie. Seniors who miss the social aspect of their previous jobs may seek a new career to maintain connections and friendships.

5. Financial stability

Some seniors may not have saved enough for retirement or may face unexpected financial burdens. Starting a new career can provide an additional source of income to support your lifestyle.

6. Adapting to change

Older adults who embrace a new career in retirement demonstrate resilience and a willingness to adapt to change. They view retirement not as an endpoint but as a new chapter full of opportunities for growth and fulfillment.

Part-Time Real Estate Careers for Seniors in Ohio

Seniors in Ohio seeking part-time careers in real estate have several options. Becoming a real estate agent can increase your income potential while still offering you the flexibility that comes with retirement.

Real estate agents typically work solely on commission, based on a percentage of the property’s purchase price. The average cost for a home in Ohio is currently $201,688. Since real estate agents typically earn a healthy income, they don’t have to sell many homes per year to earn a decent living by working part-time. Learn more about how much Ohio real estate agents earn by downloading this 2023-2024 salary guide.

Flexibility in Real Estate Careers for Seniors

One of the most significant benefits of real estate is that it allows retirees to work on their own terms and set their own schedules. This flexibility particularly appeals to seniors who want to balance work with other activities and commitments in retirement.

While a lot of real estate client interaction typically occurs on evenings and weekends, retirees could focus on a niche that allows them to work during regular business hours – such as commercial real estate or real estate transactions for other retirees.

Financial Considerations and Income Potential

You must be licensed to work as a real estate agent in Ohio. There are some costs involved with that process – expect to pay between $1,700 and $2,500 for your real estate classes, application fees, background check, and exam. There may be additional costs after you are licensed – such as brokerage desk fees, membership fees for the National Association of REALTORS®, and other business start-up costs.

But, working as a real estate agent in Ohio can be highly lucrative. According to a study by Colibri Real Estate, real estate agents in Ohio make an average of $77,205 in commissions each year. This would be a fantastic supplement to anyone’s retirement income.

Navigating Licensing and Certification

Becoming a real estate agent in Ohio is a straightforward process that can be completed in two to three months.

Here’s a summary of what to do:

• Complete the 120-hour Ohio real estate prelicensing course
• Find a sponsoring broker to work under
• Apply to take the Ohio licensing exam
• Pass a background check
• Pass the Ohio license exam

Hondros College has all the courses you need to become a real estate agent in Ohio. We offer in-person, livestream, and at-your-own-pace online classes. Choose the best method for your learning style and schedule.

And it’s easy to get started on your real estate courses. Call Hondros College at 1-888-HONDROS (466-3767) or email one of our educational advisors for more information.

Key Takeaways

• Starting a new career as an older adult can give you a sense of purpose, intellectual stimulation, social interaction, and financial security.
• Real estate is a flexible and potentially lucrative career.
• Becoming a real estate agent in Ohio is a straightforward, affordable process that only takes a few months.