5 Things I Wish I Knew Before Starting A Career In Real Estate
I don’t know about you guys but before I make a big decision or life change, like a new job, buying a car, moving to a new city, or a buying a new foundation, I google the shit out of it so I don’t feel like I am going in 100% blind.
Some topics or items have a plethora of information on them online, and others you can hardly find anything.
A career in real estate was one of those things.
There were articles online about how to get your license, but never anything about what it was like being a Realtor or all of the other career paths you can take with your real estate license and what those were like.
And there definitely wasn’t much on the downsides to having a real estate career. I mean, everything has a downside, but if it’s something you really want to do, those are the things you just have to get over.
However, it’s always nice to mentally and…financially prepare. lol
1. Being a Realtor & just holding your license is…Expensive.
In real estate, some fee is always due. especially your first year, you will find yourself thinking, “Good lord, something else? Didn’t I just pay “X” fee yesterday?” Between MLS fees, Privilege Licenses, Renewal fees, Continuing Education classes you have to take every year a few times a year, and National Associations of Realtors fees, something is always due.
But the income potential makes it all worth it. So just pay your dues, because you have to, and keep trucking along!
2. This career is SUCH an emotional roller coaster
First off you’re thrilled that you get an appointment with someone, get pumped when they are excited about the home, then they decide they have to go think about it, leaving you hoping and wondering if they will ever come back.
Then after ignoring you for a week or two, they will tell you they want to move forward just to call you one day later saying they found something else.
Or shoot, you’re lucky if you even get that phone call…
Or worse, you have someone write a contract with you, you’ve been working with them for months, just for them to get cold feet, cancel, and you get paid $0 & 0 cents.
Although I genuinely care about all of my clients, I am quickly learning how to not get so emotionally invested in all of my prospects.
3. Your schedule will not be as flexible as you think
This one is a little different for me since I work for a builder. Going in I knew I would be working a lot and more of a set schedule. I work every single weekend and 80% of the time I am doing some sort of work on my “days off”.
However, I do feel like this is fitting for general brokerage Realtors as well. When do people usually shop for homes? When they’re off of work…
That means, if you want to make money, you need to be willing to work weekends, well into the evening time, as well as be extremely flexible and be able to get up and go show some homes based on what’s convenient for someone else.
4. Not everyone is worth the sale…Say “No.”
Since I do work for a builder, it’s my job to make sure I can make every deal work. But that doesn’t mean I can’t be relieved when it doesn’t. Muahaha
Some people, are just impossible to work with. They can be rude, demeaning, perves, difficult, and honestly sometimes drive you to tears.
For me, if I 100% worked for myself, I would say, they are not worth your time. Some people just aren’t worth the paycheck and that is so ok!
It’s ok to tell someone “I don’t think we are a good fit to work together.”
At the end of the day, this career is tough enough, you don’t need those types of people to stay in business.
5. You will be dead broke for a while, but you will LOVE this career
You will not make money for a long time. That is just the way this all works. Shoot, it’s the way it works for everyone that starts their own business. And when you do get your first few checks, you will just use them to re-invest in yourself and your business.
I haven’t made money in more than 6 months. Well, I have made money but I haven’t seen it at least. Not yet. (I don’t get paid until the home closes, it takes 6 months to build our homes, you can do the math lol).
But either way, no one in this business gets paid until closing day.
The knowledge of all of the financial possibilities and future opportunities a career in Real Estate has to offer, makes waiting to get paid that much easier.
Besides the money, getting to help people make the biggest financial decision of their lives, and making that easier for them, makes you feel so good. I get to know all of my clients & their families, their fears, their concerns and get to coach them through this stressful process. It is very very rewarding.
I honestly can’t imagine myself doing anything but this.
(Unless it’s laying on a beach for the rest of my life and not working at all. lol)
If you are in this field, what do you wish you knew before starting a career in Real Estate?
Take a look at my post on Work -life Balance!
Another great resource for my ladies in Real Estate, Loida Velasquez!