2 answers
Jackie
Student
5
Questions
2 answers
Ilan Marouani, Esq., LL.M.
Tax Attorney
25
Answers
New York, New York
Updated
Ilan’s Answer
I would say it depends on the market you are working on, but usually Real Estate is very competitive.
You are dependant on buyers getting the deal done. If a house or apartment is on the market, and you are not there to get the deal, or find the buyers or try and poach sellers, you will be left behind and someone else will be more than happy to take you spot for a commission.
Some markets of course are a bit more friendly, there might be a little less competition, but overall the real estate market is very competitive, and since your salary is mostly tied to commission, unless you work with a basic income (which would probably be low and still tied to commissions), I would advise not to go into it if you value family time.
Additionally, you go into a sector that is very dependant on the economy, and if the economy is bad, no one is buying, and being so dependant on outside factors for your regular income, might not be the best choice.
I am myself not in it, but seen plenty of people go into it, and having to put 10-12 hours days, many times wake up super early, and go tot sleep late to find new leads, make visits, set up the house, review comments, reach out to potential clients.... so much pressure since no deal no money.
At the end of the day, a lot of people are very successful in the field and do very well at managing their time and prioritizing their family.
Since you are still a student, I would advise to go for an internship at a real estate firm see first of all if you even like that field. If you do, and see that your internship is going well, and the hours are reasonable, go for it!
Hope this helps, Good luck!
You are dependant on buyers getting the deal done. If a house or apartment is on the market, and you are not there to get the deal, or find the buyers or try and poach sellers, you will be left behind and someone else will be more than happy to take you spot for a commission.
Some markets of course are a bit more friendly, there might be a little less competition, but overall the real estate market is very competitive, and since your salary is mostly tied to commission, unless you work with a basic income (which would probably be low and still tied to commissions), I would advise not to go into it if you value family time.
Additionally, you go into a sector that is very dependant on the economy, and if the economy is bad, no one is buying, and being so dependant on outside factors for your regular income, might not be the best choice.
I am myself not in it, but seen plenty of people go into it, and having to put 10-12 hours days, many times wake up super early, and go tot sleep late to find new leads, make visits, set up the house, review comments, reach out to potential clients.... so much pressure since no deal no money.
At the end of the day, a lot of people are very successful in the field and do very well at managing their time and prioritizing their family.
Since you are still a student, I would advise to go for an internship at a real estate firm see first of all if you even like that field. If you do, and see that your internship is going well, and the hours are reasonable, go for it!
Hope this helps, Good luck!
Jeffrey Smith
Accounting, Audit and Real Estate
9
Answers
Boston, Massachusetts
Updated
Jeffrey’s Answer
Great question, Jackie! It might seem challenging at first, but with curiosity and some training, you can become really good at real estate. If you're passionate and keep a positive outlook, you'll find the challenges exciting. You can do it! Good luck!
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