Is Being a Real Estate Agent Worth It Nowadays?

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Is it a good time to become a real estate agent?

You may have been contemplating a career in real estate for a long time, but recent national headlines may have caused you to reconsider this plan. You may have seen that at a national level, interest rates and affordability issues are affecting the nation’s real estate markets.

While we understand your hesitation, we want to put your mind at ease. It’s a great time to earn your real estate license in Ohio.

Reasons to Become a Real Estate Agent in Ohio

What does the current data say regarding the state of the real estate industry in Ohio? Here are the details – as well as additional reasons why real estate is a great career.

1. 2024 Ohio real estate market trends show growth.

Ohio real estate has gotten a lot of positive press lately. Several recent reports have predicted that four of the nation’s hottest real estate markets will be in the Buckeye State. Home sales are expected to increase in Cleveland, Toledo, Cincinnati, and Columbus – even as prices continue to rise.

In addition, new programs are making it easier for Ohioans to save for their down payments. Check out the details of the Ohio Homebuyer Plus and Your Choice! Programs, which were created in response to higher home prices.

But what does this positive press mean for real estate agents? It means higher and more commission checks. Here’s how it works.

2. Real estate earning potential is improving in Ohio.

Increased sales volume and higher prices are good news to real estate agents. The projected home value in Cleveland for 2024 is $215,597, which means real estate agents would earn approximately $12,936 on the sale of any average home in the city.

It’s also important to note that the average gross income of a full-time real estate agent working in Ohio is $146,147, according to a Colibri Real Estate study. For comparison purposes, it’s worth noting that the annual mean wage in Ohio is $56,530, according to the Bureau of Labor Statistics. Learn more about a real estate agent’s income in Ohio, including the most lucrative niche, by downloading the 2023-2024 Ohio real estate salary guide.

3. Despite market saturation and competition, adaptable agents who focus on skill development stand out from the crowd.

As of October 2023, the National Association of REALTORS® (NAR) had 1,578,077 members. Additionally, some licensed real estate agents are not members of NAR, so the actual number of agents is estimated to be closer to 3 million. Yet, despite those numbers, higher than normal interest rates, and higher home prices, real estate agents with a go-get-’em attitude continue to do well.

Ask yourself what you can do to stand apart from the crowd. Perhaps you could focus your efforts on a niche, like lake homes or commercial real estate. You can become a pro at virtual staging and offer this service to your clients. Consider underserved populations and communities and become their go-to source for all things real estate.

Homeownership is still an American goal. Instead of focusing on the bad press and abundance of competition, figure out how to better serve people. And the rest will take care of itself.

4. Real estate agents enjoy high job satisfaction ratings and flexible schedules.

Let’s not forget some of the most significant reasons people want to become real estate agents. They want to work in an exciting, ever-changing industry where they can enjoy a flexible schedule.

CareerBliss studied more than 65,000 employee-generated reviews to find that real estate ranked as the happiest job in America. There are many reasons why real estate has such high job satisfaction ratings:

  • Having a flexible schedule can give you a better work-life balance.
  • No day is ever the same.
  • Although you will work under a broker, you will have a lot of independence.
  • Working as a real estate agent is great for those with an entrepreneurial spirit.
  • Real estate appeals to people who want to be out and about.
  • It’s an excellent career for extroverts who enjoy meeting new people.
  • Real estate agents have unlimited income potential.
  • Real estate is an excellent side gig – since most client appointments will occur during evenings and weekends.

5. Becoming a real estate agent in Ohio is straightforward and affordable.

Becoming a real estate agent is a straightforward process that only takes two to three months. Plus, it’s affordable. The application, background check, and exam will only set you back $216. In addition, Hondros College has affordable pre-licensing programs that include exam prep materials and career expos that help you connect with hiring brokerages.

In summary, Ohio is projected to be a hot real estate market in 2024, which means increased earning potential for agents. But these predictions are not a sure thing, and you may be concerned that market shifts or world events will reduce your likelihood of succeeding as an agent.

However, that’s the nature of the industry. If you wait for perfect conditions to become a real estate agent in Ohio, you will enter the field with many others who waited for a sunny day with blue skies. If you enter now in uncertain times, you will be able to develop your network and lead-generation skills to build and grow your business. Quit waiting for a perfect world. Get your real estate license in Ohio with the help of Hondros College.

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