4 Financial Benefits of Becoming a Real Estate Agent
January 27, 2020 |
Choosing a career path isn’t an easy decision. From education costs to business expenses, pursuing your dream job can require financial investments. Becoming a real estate agent has many benefits. A career in real estate offers flexibility, provides growth opportunities, and can set new agents up for a rewarding career.
Before pursuing a career in real estate, it’s important to understand the job’s future earning potential and financial stability. Finding the right real estate school can set you on a path to success and increase your earning potential. To help you navigate this big decision, we’ve compiled four key financial benefits of becoming a real estate agent.
Be Your Own Boss (Or Not!)
Earning a real estate license allows you the flexibility to work with colleagues or establish your own business as a solopreneur. Whether you want a full-time career or a part-time side hustle, with a real estate license you can build your own schedule. That means if you want to go back to school or continue an existing career, you have complete control over your career path.
Set Your Own Financial Goals
Real estate is a unique field because it allows you to direct your own business. According to the United States Bureau of Labor Statistics, real estate agents make an average of $58,710 per year. Unlike salaried or hourly employees, a real estate agent’s income is based on the number and value of the transactions facilitated.
Running a business allows you to set your own professional and financial goals. As long as you have the drive and resources to reach your goals, your earning potential is practically unlimited. Keep in mind that business growth is only possible with preparation and skill – make sure you invest in your education to set yourself up for long-term success.
Develop a Professional Network
Research from the National Association of Realtors shows that homebuyers who have a good experience with their real estate agents are more likely to work with that agent in the future – and they’re more likely to recommend that agent to family and friends. Providing an excellent experience for homebuyers allows real estate agents to reap future business rewards from satisfied clients. Learning the tools of the trade can go a long way to improve your clients’ home buying experience, and can bring new business later in your career.
Work in a Stable Market
Like the economy at large, the real estate market can have ups and downs. Even during periods of market slow down, there are always opportunities to buy or sell property. This means that agents may have opportunities to earn when other sectors are slow. In some markets, real estate booms can even insulate the local economy from the negative impacts of a recession
If you want to become a real estate agent, you should weigh the pros and cons of a career in real estate. Be sure to consider the financial impact of a career in real estate. Whether you want to work in a firm, establish a solo business, or pursue a part-time career, real estate has opportunities for flexibility and growth. Investing in a quality education can set you up for long-term success.
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