Considering the boom of the global real estate industry, it’s understandable why many people are looking into becoming property agents. After all, its global market is estimated to reach almost USD$6 trillion (AUD$8.7 trillion) in 2030.
Safe housing is a basic necessity for all humankind, especially for growing families.
Whether you’ve decided to switch to this industry as a full-time agent or add it as a side hustle to earn extra dough, it’s vital to know more about the perks of being a property agent. Compared to other careers with the same salary potential, becoming a real estate agent seems more manageable when you prepare well.
All you need is this ultimate guide to be competitive in the real estate industry. Check out the following benefits of being a property agent:
- You can follow your own work schedule
If you’re tired of being tied up to a fixed office schedule, it’s worth considering a different job that is more flexible. Fortunately, property agents allow you to design a flexible working schedule.
This is one perk of being a property agent, which many love. This freedom of working whenever you want gives real estate agents an edge over traditional nine-to-five jobs.
And because you are not paid by the hour, you can work around your schedule – an opportunity that not many professions have.
Finding people to buy homes is the core of working in real estate. This job is more output-based, so you’ll get earnings based on how hard you work and not how long you’ve hustled.
If work-life balance is primarily a priority for you, being a property agent will suit your lifestyle. Because your work-life balance will improve, you can feel happier and more content with your job, boosting your motivation and work productivity.
- There are no limits to how much you can earn
There are no earning limitations when you become a property agent.
You can earn as low as three-digit commissions or even up to seven digits if you hustle hard. You can achieve more as a real estate agent by combining determination, industry knowledge, and people skills.
No promotions and higher career positions are waiting for you to get that amount of salary that you’ve been eyeing for.
As long as you can sell properties and convert more leads, you’ll be set to earn a higher income than an average job. However, ensure to apply the best practice as an effective real estate agent.
Hence, using the right tips to sell properties and build clientele can help you earn more commissions and close sales here and there.
Depending on the property and the developer, the property agent’s commission can vary from 2% to 4%. Nevertheless, the higher the value of a house you’ve sold, the higher the amount of commission you’ll earn.
Imagine how much you’ll be making even if you just close one sale every month, with substantial price tags on the properties. Simply put, a real estate agent’s income determines how many clients they take on.
- It doesn’t require educational attainment
A bachelor’s degree is not a requirement for property agents. Real estate developers don’t care about your academic background as long as you can sell.
However, due to the fierce competition for this job position, taking courses and enrolling in programs about becoming the best real estate agent you can be is crucial and invaluable.
Some of these academic programs can last a year or two, depending on how many lessons and techniques you want to learn.
Becoming a licensed real estate agent is a whole different story, depending on the country or city you operate. Some may require education or exams for you to get a license.
Check your state’s or city’s requirements first. It is also a good idea to determine if your license is transferable.
- You can scale your real estate brand
As a self-employed real estate agent, you can grow your business as big as you like.
You can begin slowly, but eventually, your goal is to expand your real estate business. This can be made possible if you become a property agent instead of being hired by a company.
The more you invest in your business, the more likely it is to flourish. Gradually, you can hire more employees and even partner with other property agents to grow your brokerage firm and finally get a broker license.
This yields more customers in your pool of prospects.
Knowing about constantly changing industry trends is key to managing a real estate firm. Stay updated with what’s happening in the market, and learn about the external and internal factors influencing property prices.
Your success depends on your ability to incorporate good business skills and develop practical real estate marketing ideas.
- Access to a wide variety of real estate properties
Real estate agents have the advantage of being able to view a wide variety of properties.
Since you’ll have more connections with various developers and real estate companies, you now have more properties to show and sell to your prospects.
Depending on your client’s preferences and conditions, you’ll easily find a property that’s a perfect fit for them.
Also, viewing and visiting all types of properties allows you to learn more about industry trends and market performance. You’ll be able to maximise profits and grow your clientele as you know more about the homes people want.
- Help individuals and families achieve their dreams
Finally, another benefit of being a property agent that’s often overlooked is the capacity to help people achieve their dreams.
Guiding, helping, and supporting individuals and families purchase their dream homes can give you a sense of accomplishment that no other work can make you feel. There’s a sense of pride in knowing that you could help people find homes they can afford and live safely in.
As a property agent, your responsibility goes beyond introducing different properties to your customers. It also involves helping and guiding them through funding for their dream homes.
Ultimately, your clients are usually beyond grateful for having worked with you. This can even give you more meaning, much more valuable than the commissions you earn.
Moreover, when you learn to value this work and find fulfilment in it, it’ll continue to motivate you to work hard as a real estate agent.
Becoming a real estate agent is no easy feat, nor is deciding on becoming one.
Fortunately, with the help of this article, you are now aware of the benefits and what’s in store for real estate agents. However, it would be best to remember that the requirements will vary from place to place.
Hence, doing your research first and applying the best practices and tips for becoming a real estate agent in Australia is best.