Considering taking up a Realtor’s job? Take this reality check first!
Making a career as a realtor or a real estate agent is the easiest thing in the world. Absolutely wrong. Contrary to popular notions, building up a career as a realtor is NOT as easy as it is thought to be and needs as much dedication, sincerity, and effort as any other job in the world. The society, which is unaware of the hard work that goes into the making of a competent realtor, views it quite differently and forms its own misconceptions about this profession. We all would have known that “Uncle” who, banking heavily on “contacts and personality” jumped into the business of real estate and soon fizzled out after learning the hard truths well, the hard way.
If you are someone who has set your sights on becoming a realtor, it will be prudent to understand that it’s not a glamorous job and definitely not one for the faint-hearted. Generally, it is thought to be the ideal profession for someone who is gregarious, out-going and independent. However, it needs much more than these qualities to even qualify as a realtor and a lot of grit and determination to succeed as one.
Check out these real-life confessions by realtors who gave defined success in a brand new way and then decide if this is truly the profession you want to be in
It’s definitely not a “Work for 2-3 hours & earns millions” kind of a job
So what kind of a pay-check do realtors take home? It will surely be enough to cover all the expenses of running a shop, showing clients around and footing the occasional hotel bill. Realtors taking off large chunks of money in the form of commissions is close to being a myth as there are many expenses to be managed. Office rentals, utilities, staff salaries and many other miscellaneous expenses like advertising, promotional material, business cards, etc. have to be paid and you need to consider them before jumping with joy about the large commission cheque received.
Did I mention taxes yet? Well, you would have to pay taxes on the income received. Meeting up with clients, checking out properties, fuel expenses, and the works. Add them up and that large commission amount shrinks up a lot.
Can you sell “yourself”?
Selling homes is not a profession for the meek. Though an outgoing, gregarious personality may not guarantee a successful career as a realtor, it surely helps to be an individual who can connect to perfect strangers with ease. Building trust and confidence about your capabilities and your ability to conduct transparent transactions will go a long way in creating a long and loyal client list. But if you are one who constantly shoots off the hip, it is ultra-careful with your aim. Homes are large transactions that many of your buyers may conduct only once or twice during their lifetimes. This means that they will need to have implicit trust in the person facilitating this deal.
Realtors can easily get slotted in a category similar to insurance agents and are labeled as being “commission-hungry” or “pushy”, so ensure you are not one of them. Having a professional yet friendly attitude towards clients is the key to success as a realtor selling high-value properties.
Get ready for that “middle-of-the-night” call
I hope you are a light sleeper and even the faintest beep from your mobile can wake you up at unearthly hours. No, it’s not going to be a love note. Rather expect a call from a distraught buyer/seller who himself is spending sleepless nights over the biggest transaction of his life and expects you to join in and give him company in tiding over this difficult phase. Go ahead and hold his/her hand (strictly theoretically speaking) for a while to assuage their feelings and sing them a lullaby to put them to sleep.
Buying or selling a home is a long-drawn process and during this period, there could be occasional tiffs and tiny cold wars. Your client will always demand the moon (and not want to pay as much) so it is your talent that will come in handy to convince him/her that the moon does not have enough amenities that will do justice to their budget.
If BYOB is your mantra, then real estate selling is THE job for you!
You are going to be sailing off all alone in your own boat with no or little support when you decide to get into this demanding but highly satisfying profession. If you are comfortable chatting up clients, putting them at ease with your knowledge and a dash of humor, ready to spend days without a single prospect in sight (Who told you a realtor’s life is an easy one?) then you are primed to BYOB (Be your own boss).
However, this is a profession that will empower you with abilities to help others create their homes and settle down in life. Being a go-getter and a positive thinker will help since there will be days when nothing seems to be going right. Tiding over such situations will test your true caliber and transform you into a true blue realtor ready to take on the world.
You will do well to remember that we all buy or transact through people whom we trust. By creating the right visual imagery before a client and empathizing with their needs as yours, you can expect a lifetime emotional connect with them. Selling real estate is not about reading a book that says “How to”. Carry out a reality check for yourself before you get your feet wet in these turbulent waters of real estate buying and selling and you will never regret your decision ever.