HGTV has romanticized the job of selling real estate and while there are pieces of it that reflect what it’s like, it also leaves out a tonnnn of stuff.
To bring you clarity, let’s chat about what selling real estate is actually like:
Firstly, You’re In Sales.
While that might sound obvious, a lot of people who get into the business fail to realize that and get into the business because they like houses.
Just because you have a license doesn’t mean people are going to start throwing deals at you… Not your broker, your family or friends.
You have to actually earn it.
Any sales person knows that getting the business is the hardest part, servicing it is the easiest.
When they realize how hard sales actually is, they end up leaving the business.
In fact, 80% of people who are licensed will leave the business within 6 months.
Even though you hang your license with a brokerage, they are not going to set quotas for you to meet, market for your and provide leads, provide health insurance or even require you to be in the office for specific hours.
The limit to your income is how hard you’re willing to work.
The Leads Don’t Just Magically Come In.
When you get into real estate, you have two jobs…
The first is lead generation and the second is selling real estate.
Most companies will not give you leads and the ones that do will take a GIANT cut out of your commission for that lead.
You have to build your own pipeline and your own database… and just because you have a license doesn’t mean your family or friends will automatically do business with you.
One of the hardest things to do as a new agent is to get the people you already know to trust you enough to do let you help them buy or sell the largest asset they will likely ever own.
They know that you are new and don’t know what you’re doing so many of your friends and family will be uncomfortable with the idea of allowing a rookie to handle the purchase or sale of their largest asset.
You have to earn that through proven success.
Once you’ve proven yourself successful, you have to stay in constant contact with those people so that when they think of “realtor”, they think of you.
Just Because You Have a License Doesn’t Mean You Know How To Sell Real Estate.
Firstly, everyoneeee knows someone who has a license.
The exam to get your license only covers the laws and how to stay out of trouble but it doesn’t actually cover the skill of selling real estate.
When you’re picking a company, go with a company that does a ton of training, forget about commission or fees… Otherwise, 100% of nothing is nothing.
Oh, and don’t fall for the whole “big name” in real estate act.
… Establishing a big name in real estate isn’t hard.
If you have the marketing dollars to do it, you can very easily make yourself seem like the “expert” with some mailers in a neighborhood.
Andddd just because someone says they’ve had a license for a long time doesn’t mean they’ve actually done any business.
There are tons of agents who have had their license for over a decade and have only done a deal or two.
If you’re going to buy or sell a home and want to make sure you’re getting the best experience possible, stick with a full time agent which leads me to…
Part Timers Ruin The Business.
There are over 50,000 realtors in Broward, Dade and Palm Beach and it’s wayyyyy too easy to get your license.
Helping people buy and sell real estate means you are handling the LARGEST asset most people will ever own.
You have a responsibility to know what you’re doing, go to trainings and stay up to date on the legal stuff.
Part time agents RUIN our business in the public’s eyes because they have no idea what they’re doing and they don’t keep up with the laws and industry changes.
If you want to sell real estate just for an extra check on the side, PLEASE don’t.
It’s NOT About The Houses.
Only a small percentage of your time is spent actually showing homes so if you think you’re just going to drive around and look at pretty houses all day, you’re going to be CRAZY disappointed.
Most of your time is spent looking for new business, doing buyer and seller consultations and negotiating contracts.
In a lot of the shows, the buyers have already bought the house and are doing the show afterwards and there generally is a lot less drama than the shows like to make it out to seem.
So many new agents say they got their license because of HGTV and Million Dollar Listing and those are also the agents who leave the business within 6 months.
Yes, Your Schedule Is Flexible (And That Can Be A Blessing Or A Curse).
As an independent contractor with no quotas to hit, it’s wayyyyyy too easy to slack off.
If you don’t have the discipline to stick to a schedule (even when it’s not fun), selling real estate is going to be torturous.
A great agent doesn’t wake up in the morning and haphazardly start running around to clients…
A great agent has a schedule that they follow consistently.
Oh, and you’re NOT required to work nights and weekends.
I mean sure, there will be times that you do, but that’s not the only time that business happens.
Luckily, as our culture changes and more people become freelancers and remote workers, our schedules free up which means they can look at homes during the day.
It’s the most rewarding career you could ever ask for.
When you hear “the American Dream”, the first thing you think about is homeownership.
There are more people who made their wealth in real estate than any other field.
Now imagine seeing the joy on people’s faces when you help them handle that transaction… It’s the most fulfilling career ever.
It’s stressful, you do a lot of parenting, there are a ton of emotional highs and lows but at the end of the day, it’s all worth it.
You’re not just selling a home, you’re helping them achieve a life goal.
They’re going to continue building their family and you had the honor of helping them do that… and to me, that’s what makes it worth it.
You have to worry about safety.
If you follow the news, you’ve probably seen there’s been a lot of cases lately with realtors going missing and getting raped and killed.
This is a very real situation where most agents are requiring that buyers come into the office prior to taking them out to show properties.
No potential commission check is worth your life.
In all honesty, not only does this protect the client, but when the buyer sits down with the agent prior to looking for homes to talk about their needs and understand the process, I can guarantee you 100% of the time that it will be a smoother transaction.
If you’re interested in learning more, feel free to reach out. I’m always here to help and to answer questions.