Being a real estate agent can be rewarding, but it’s also a challenging profession. You stand to make a lot of money, but you’ll also make a lot of sacrifices. If you’re thinking of becoming a real estate agent, you’ll want to browse the list of pros and cons below. Doing so will give you some clues about what you can expect.
1. Pro: You Can Make Your Own Schedule
These days, people are seeking more flexible work schedules, and real estate is one of those careers with flexibility built into its foundations. In fact, this is one of the main reasons people get into real estate in the first place. Being able to choose your own hours is very attractive.
Whether you dabble in commercial property investment or residential real estate, being a real estate agent allows you to arrange your schedule so you can attend your son’s little league game or visit the doctor without missing work. You don’t punch a time clock each day. Of course, without a set schedule, there’s a downside.
2. Con: You May Work More than You Anticipated
Having a flexible schedule doesn’t mean you have an easy job. Being able to take an afternoon off in the middle of the week to attend your son’s Christmas concert is great, but it might mean you end up missing family time Saturday morning due to a client meeting. The nature of real estate is such that you could meet with clients on weeknights and weekends, so this may be a big downside to the flexible work schedule.
3. Pro: Your Income Potential Is Virtually Limitless
As stated at the beginning of this article, being a real estate agent is a lucrative career. There is no salary cap, and because you handle your own transactions, there are no limitations on pay raises. Essentially, the more time and effort you put into being a good real estate agent, the more profitable you’ll be. The sky is literally the limit in terms of income potential.
4. Con: Real Estate Is a Commission-Based Profession
Unfortunately, if the business is slow, you don’t make money. Real estate is a commission-based profession, so if you don’t sell houses, you don’t earn an income. Many real estate agents will make saving money a priority during busy times to ensure they have something to fall back on during slow times.
5. Pro: You Get to Be a Part of Fulfilling Dreams
Buying a home is a “dream come true” moment for many people. As a real estate agent, you get to play a big role in that. It’s a rewarding experience helping someone find and purchase a home that’ll bring them years of enjoyment. You get to be the catalyst for happy memories your clients will cherish throughout their lives.
6. Con: Buying and Selling Homes Is Stressful Business
Although you spend each day dealing in the buying and selling of homes, your clients likely don’t. As such, buying or selling a home can be a very stressful experience for them. Tensions tend to run high as it’s a big financial decision. Being a real estate agent and getting to work with people can be rewarding, but when your clients struggle with decisions, it can be stressful and challenging.
As you embark on your real estate career, consider the pros and cons of becoming a real estate agent. As rewarding as this profession can be, it presents many challenges too. While the pros are attractive, it’s the person who can overcome the cons who will have the most successful career as a real estate agent.