In today’s economy, the real estate industry offers one of the most diverse career options. You may work in real estate to help people buy and sell homes, commercial property, office buildings, and farmland, and manage properties for corporations to develop land, offer mortgages, and provide real estate consulting and research.
A real estate career offers a diverse range of business options. However, it requires hard work, time, and patience. Real estate is one of the most flexible professions since you can run your own business and schedule after becoming a licensed agent. The more you know about investing, the more you can earn.
There are many options available in this career; you can become a Real estate agent, a real estate broker, a real estate wholesaler, a real estate investor, or a real estate attorney. Your success rate and earnings depend on your skills, management, time, effort, money, and patience in this profession.
Real estate agents must be hard-working, persistent, good communicators, and have time management skills. They must also be ambitious and self-motivated. You can build a business by buying and selling properties and getting as much profit as possible. Moreover, you can earn a good chunk of money by referring your clients. You must be surprised to know that realty referral services pay a lot in this industry. It’s just one example of the income you can earn. Let’s take a look at what it takes to become a realtor.
How to Start a Career?
Real estate agents are the first step toward starting a career. Even though no formal education is required to begin your career, to become a successful realtor, it’s advised that you study the required real estate courses and pass the license exam. The courses may vary depending upon the region you live. After clearing the course exams, you also need to clear the license exam. After passing your license exam, you will receive your license, become a licensed Real estate agent, and start your own business. Real estate courses only take a few months to complete compared to other professions.
To get a practical understanding of the real estate industry, you can also take some introductory courses.
Career Opportunities in Real Estate
As we have discussed earlier, the career in real estate is so diverse and vast that you can choose any of the below-described fields for yourself according to your interest.
Real Estate Agent
Becoming a real estate agent is one of the most common jobs in this industry. They earn in a variety of ways. Real estate agents help people buy properties and sell them once their market value increases to make a profit and get their commission. Real estate agents can be residential or commercial.
Residential real estate agents assist people in buying and selling properties such as homes, farmhouses, luxury villas, etc. The success rate of your business depends on how well you satisfy your clients’ needs.
You must know about business and finance in the commercial sector. Real estate commercial agents, on the other hand, work in the commercial sector and sell properties that are used for commercial purposes. Earnings in this profession are based upon commission. Depending on how much you sell properties, you may earn more or less.
Real Estate Investor
Becoming a real estate investor can be highly beneficial in the real estate industry. Investors in real estate buy properties at a low cost and sell them at a profit when the property’s market value increases.
Investors must have a good understanding of market values. You must have the patience and the courage to invest. Moreover, you need to know what the best strategies are when it comes to buying and selling properties and knowing what the best investments are. You should have sufficient funding when purchasing properties to be on the safe side.
As a real estate investor, you can sell the properties at your own pace and make as much money as possible.
Real Estate Broker
To start a brokerage, a real estate broker can hire some Real estate agents or do the work independently. When you have worked as a realtor for 2-3 years, you are eligible to take the license exam.
If you’re considering setting up your business, you may want to consider becoming a Real Estate Broker. Real estate brokers have a reasonable growth rate, which causes most real estate agents to pursue their careers in this field.
Real Estate Wholesaler
The best way to make quick money in the real estate industry is to become a real estate wholesaler. Real estate wholesalers buy distressed and cheap properties, calculate renovation costs, and convince investors to invest in those properties.
A good real estate wholesaler must have extraordinary convincing, bargaining, and negotiating skills to persuade clients to sell or buy properties. When you master these skills, the profession becomes rewarding.
Real Estate Attorney
The career of a real estate attorney is one of the most rewarding and brightest in the field. Real estate attorneys use their knowledge and skills to resolve disputes behind properties.
Becoming a real estate attorney takes almost seven years. Nevertheless, it is the most time-consuming profession as a bachelor’s degree is required at the start. Then you must pass the law school admission test (LSAT) exam and the bar exam. Considering how time-consuming it is, fewer people go into this profession. However, it is one of the most rewarding professions in real estate.
Reasons to Pursue a Career in Real Estate
Other than this, there are several other reasons why people choose real estate as a side hustle or even a full-time profession. Some of them are:
Flexibility
One of the biggest perks of working in the real estate industry is the flexibility one enjoys. As a real estate agent, you can work full-time or part-time, depending on your schedule.
Endless earning potential
No specific salary range or hourly rate is set for you, so you can earn whatever you want. Since your career is a business, you are limited by your ability to build it up and grow it. There is good money to be made in this field. Many people go into this field for that reason.
Hassle-free start
To start your career in the real estate industry, you don’t explicitly need to have a degree. Even though getting the necessary certifications is always recommended, it won’t take as much time and effort as a full-time degree.
Independence
Another plus point of working in this industry is the independence and freedom you enjoy—most people working in this industry work for themselves. Even when working with a firm, you get the freedom to choose your schedule.
Final Words
The advantages of a career in real estate are becoming more widely known these days. Developing your career as a realtor is the key to increasing your earnings exponentially. For this reason, more and more people are considering this field.