Tru Realty’s tech driven real estate education platform featuring a comprehensive, step by step guide that shows you how to become a realtor and how to close your first thirteen transactions. We’ll show you how a real estate career can get you out of a dead-end job and help answer questions like, “How much can I earn as a real estate agent?”, “Can I set my own schedule as a real estate agent?”, “Will I be my own boss?”, “Is real estate a good fit for me?”, and “Is now a good time to become a realtor?”. We’ll also help you identify five key reasons why you should choose a real estate career.
Why Is Emerging Technology and Superior Education Important for Real Estate Agents?
Real Estate Agents love Tru Realty’s tech stack. Hear from Tru Realty CEO and founder Sarah Richardson as she talks about how and why we chose our technology partners and how it makes it easier to scale your business in a smarter, safer, and faster way.
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Hi, my name is Sarah Richardson, I’m the CEO and founder of Tru Realty, a tech driven real estate brokerage and world class education program. Over the next little while, settle in, get comfy and enjoy the ride as we take you through three easy steps that take you from becoming a realtor to closing your first 13 transactions. We’ve all been there staring down the clock at that dead end job, waiting for the next data and wondering if there must be something better than this.
Well, there is. Real estate agents are able to set their own hours, be their own boss and have unlimited earning potential. Not sure where to start? We have your back. This guide will help you figure out if a career in real estate is right for you and where to start if you decide to take that leap into real estate. To be sure, a career in real estate isn’t for everyone. Competition is fierce, and income can sometimes be scarce when the market isn’t doing so hot, but the rewards are worth it. Those who are persistent work hard and invest in their education and skills go on to have deeply satisfying careers. We’ve helped over four hundred thousand professionals launch their real estate career in the real estate business. So what are you waiting for? People choose to go into real estate for many reasons.
In 2018, we collected survey responses from more than one thousand real estate professionals across the country, asking them why they chose a career in real estate. In general, real estate agents cite five key reasons one, flexible work schedules, two, helping people, three income potential, four being your own boss, and lastly, five working on the go. These components of real estate lifestyle contribute to an overall high career satisfaction rate that exceeds the national average. In fact, real estate agents are reportedly twenty eight percent more satisfied in their careers than American workers across all professions. Now, that will turn a frown upside down.
By now, you’re probably thinking, isn’t real estate industry risky? Although the woes of the housing market have made headlines in the recent past in general, the real estate industry is on the rise. It’s important to remember, however, that real estate tends to run in cycles. At times, business is booming. Other times, sales of commercial or residential property will be very slow for a year or two. So is now a good time to launch a real estate career?
Here are a few things to consider. The outlook varies by location. While the housing market overall currently is on an upswing, nationally, real estate is, by definition, a local business. Market conditions in Kansas City may be completely different from those in Denver, southern Illinois or rural Maine. One of the best ways to learn about your particular market is to immerse yourself in local data and talk with the most active agents and brokers. Set up appointments with a few different brokers to gather their insights. They will likely welcome your curiosity about the business in the profession.
Agents are optimistic. According to the National Association of Realtors, two thousand eighteen member profile report, 80 percent of current agents intend to stay in the field for at least two more years. Thus, agents are optimistic about what the future holds. How many professions can say that real estate is a personal decision?
Starting any new career is a deeply personal decision. Your work life balance is likely one of the reasons why you’re exploring this career, and it’s important you consider your personal and family life independent of professional opinions about the market before you dive into real estate. There’s a common misconception when it comes to a career in real estate that pursuing a career in this industry means you’re going to become a residential real estate agent. While it’s true that many real estate agents are in residential real estate, there are many, many different career paths within real estate to choose from.
Here are some common ones Real Estate Agents, a licensed professional who represents buyers and sellers in residential real estate transactions. Real Estate Managing Broker, a licensed real estate professional with a more advanced real estate license level than an agent, has the responsibility to manage a real estate office or agency.
All aspects of operation and its agents Commercial Real Estate Agent, a licensed professional who represents buyers and sellers in commercial real estate transactions, real estate investor actively or passively investing in real estate. An active investor may buy properties, make repairs and sell it later for profit, commonly known as house flipping, an inactive investor may hire a real estate firm to find and manage investment properties. For them, becoming a real estate agent requires a giant leap of faith and an investment of time and money. That’s why some agents may choose to test the waters with a part time real estate position while hanging on to the steady income from another job.
One of the benefits of a career in real estate is the unlimited earning potential. Unlike salaried or wage paying jobs, a commission based career allows you to get back in income, would you put into it in effort and energy? However, it’s important to note that income is dependent on a number of factors. While some factors you don’t have control over, i.e. the market conditions. There are some factors that are within your control. Number of hours worked for the vast majority of real estate agents.
Income is highly dependent on the number of hours worked. This creates a wide gap between part time and full time. Agents working fewer than 20 hours a week delivered a median gross income of thirty one thousand a year, according to the two thousand eighteen real estate agent income guide. In comparison, working 60 hours a week produced a median gross income of one hundred and twenty three thousand dollars a year. Persistence first year in real estate is always the hardest. But agents that stick with it see the payoff within a year after getting at least one year of experience under their belt.
Agents typically earn over twenty thousand dollars more per year. Agents that had the most success in the first year are those that find a supportive brokerage and seek out knowledgeable mentors for guidance. Location average income for real estate agents is highly variable based on region, state, city and the health of the local market. In general, if you want to earn more, you need to work primarily in urban or suburban areas where the average cost per home is a little bit higher.
Success in real estate starts with a plan. It’s no surprise that real estate agents who step back and think about their career and what they want to accomplish are the ones who crush it. So let’s assess where you are today and where you’re headed. Please complete the short quiz to help you determine if your career in real estate fits your goals and passions. The first question is what does the vision of a career in real estate look like? What are you really good at? What’s holding you back? What makes you energized? And are you excited after having read through this deck?