2 answers
Duane
Student
Brooklyn Park, MD
2
Questions
Updated
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whats the pros and cons of real estate agent?
my name duane im 20 trying to start real estate.
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2 answers
Brian Sonberg, MBA, CSSGB, PSM, PSPO
3
Answers
Updated
Brian’s Answer
Hi Duane,
There will be some overlap with some of what Luke wrote above:
Pros
1. Flexible Schedule
You can often set your own hours and work independently.
2. High Income Potential
Earnings are commission-based, so successful agents can earn significant income, especially in high-value markets.
3. Helping People
You assist clients in major life decisions, such as buying their first home or selling a property.
4. Variety in Work
Every day is different; you meet new people and face new challenges regularly.
5. Low Barrier to Entry
Compared to many professions, you can become licensed relatively quickly (often within a few months).
6. Networking Opportunities
You build a broad professional network, which can lead to other business opportunities.
Cons
1. Income Instability
Commission-based pay means income can be unpredictable, especially when starting out or during market downturns.
2. Irregular Hours
Clients may need you evenings, weekends, and holidays, making work-life balance challenging.
3. High Competition
The field is crowded, and standing out requires marketing, networking, and persistence.
4. Upfront Costs
Licensing, association fees, marketing, and other startup costs can add up before you make your first sale.
5. Emotional Stress
Deals can fall through, and you may handle difficult clients or stressful negotiations.
6. No Employee Benefits
Most agents are independent contractors, so you must provide your own health insurance, retirement savings, etc.
There will be some overlap with some of what Luke wrote above:
Pros
1. Flexible Schedule
You can often set your own hours and work independently.
2. High Income Potential
Earnings are commission-based, so successful agents can earn significant income, especially in high-value markets.
3. Helping People
You assist clients in major life decisions, such as buying their first home or selling a property.
4. Variety in Work
Every day is different; you meet new people and face new challenges regularly.
5. Low Barrier to Entry
Compared to many professions, you can become licensed relatively quickly (often within a few months).
6. Networking Opportunities
You build a broad professional network, which can lead to other business opportunities.
Cons
1. Income Instability
Commission-based pay means income can be unpredictable, especially when starting out or during market downturns.
2. Irregular Hours
Clients may need you evenings, weekends, and holidays, making work-life balance challenging.
3. High Competition
The field is crowded, and standing out requires marketing, networking, and persistence.
4. Upfront Costs
Licensing, association fees, marketing, and other startup costs can add up before you make your first sale.
5. Emotional Stress
Deals can fall through, and you may handle difficult clients or stressful negotiations.
6. No Employee Benefits
Most agents are independent contractors, so you must provide your own health insurance, retirement savings, etc.
Luke Trimberger
Student
147
Answers
Champaign, Illinois
Updated
Luke’s Answer
Hi Duane,
Here are some of the pros and cons of being a real estate agent:
Pros:
High earning potential. Real estate agents can earn a lot of money, especially if they are successful.
Flexible hours. Real estate agents can set their own hours, which can be a great benefit for people who want to have more control over their work-life balance.
Opportunity to help people. Real estate agents can help people find their dream homes, which can be a very rewarding experience.
Variety of work. Real estate agents can work with a variety of clients and properties, which can keep the job interesting.
Opportunity to build a business. Real estate agents can build their own businesses, which can give them a lot of freedom and control.
Cons:
High startup costs. It can be expensive to get started in real estate, as you will need to pay for a license, marketing, and other expenses.
High-pressure sales environment. Real estate agents are often under pressure to make sales, which can be stressful.
Long hours. Real estate agents often work long hours, especially when they are first starting out.
Unpredictable income. Real estate agents' income can be unpredictable, as it depends on how many sales they make.
Competition. The real estate industry is very competitive, which can make it difficult to succeed.
Overall, being a real estate agent can be a rewarding career, but it is important to be aware of the challenges before making a decision.
Here are some of the pros and cons of being a real estate agent:
Pros:
High earning potential. Real estate agents can earn a lot of money, especially if they are successful.
Flexible hours. Real estate agents can set their own hours, which can be a great benefit for people who want to have more control over their work-life balance.
Opportunity to help people. Real estate agents can help people find their dream homes, which can be a very rewarding experience.
Variety of work. Real estate agents can work with a variety of clients and properties, which can keep the job interesting.
Opportunity to build a business. Real estate agents can build their own businesses, which can give them a lot of freedom and control.
Cons:
High startup costs. It can be expensive to get started in real estate, as you will need to pay for a license, marketing, and other expenses.
High-pressure sales environment. Real estate agents are often under pressure to make sales, which can be stressful.
Long hours. Real estate agents often work long hours, especially when they are first starting out.
Unpredictable income. Real estate agents' income can be unpredictable, as it depends on how many sales they make.
Competition. The real estate industry is very competitive, which can make it difficult to succeed.
Overall, being a real estate agent can be a rewarding career, but it is important to be aware of the challenges before making a decision.