6 Reasons to Pursue a Career in Real Estate
One staggering figure talks of the many advantages of pursuing a career in real estate; the overall value of the whole market exceeded 10 trillion dollars in 2020 alone. Of course, this number is prone to changes and after the Covid pandemic, we have seen how easy it is for certain branches of the economy to crumble beneath their own weight. We have also witnessed the rise and fall of different cryptocurrencies and the stock market making it less reliable each year.
However, the real estate market has surprisingly withstood most “storms” proving to be quite resilient amidst all the changes. Even during the pandemic, in Canada alone, the demand has doubled as opposed to previous years as foreign investors made their way into the game. This only shows how real estate is a lucrative career path and you can hope for profits within the first year after starting. If still not convinced, here are 6 additional reasons why you should pursue it.
If you are a family man, you know the value of free time and how much it can affect the quality of your life and your relationships. However, as most jobs are restricting you to specific working hours, most people find themselves literally “trapped” without any hope of ever escaping such systems. No matter how good the pay might be, you’ll sacrifice many beautiful moments and of course, the goal is to live life, not simply prolong it. Therefore, the real estate investment companies business might be perfect, as the working hours solely depend on you and how you’ll organize your tours and client appointments. Of course, you shouldn't expect to work late at night, but you can usually select any time throughout the day and be productive working on something you enjoy and that pays the bills.
Getting a degree is accomplishable
“Getting into” the real estate market does require some skill, however, the flexibility of the job itself allows for it to be a “side-thing” until you are steadily on your feet. In other words, most people go for this particular career path because they need additional income to pay off debts or mortgages. Because the job itself does not have fixed hours, most people balance their regular job with this one. Furthermore, the availability of many excellent online courses allows you to obtain a degree or license in a short period of time, making it more than possible to continually update your knowledge through all of the great options available, the majority of which can be done from the comfort of your own home. This also implies you can become highly qualified in a short amount of time while maintaining your existing position. After passing all of the required examinations and completing the licensing process, you can only hope for a bright future, as the market is always expanding.
The pay depends on you
The bottom line, there is no “upper limit” when it comes to earnings, and some real estate agents have become “filthy” rich during their life. If you happen to work alone, and not for an agency, your annual income solely depends on your set goals and working hours. The more successful you are, the better you’ll earn. Even working for an agency has its advantages and as most agents are working on commission, you can hope for a “fat” paycheck at the end of the month, if you have been quite productive. Whatever the case may be, the whole concept of “being paid according to your invested labor”, is rewarding and motivating at the same time. Therefore, we can assure you sky's the limit if you happen to love earning money.
Of course, this means you may not be paid if there is no work or if you do not make the required sales, but every career has its drawbacks, and the benefits of real estate much outweigh the disadvantages.
You can expand your empire
As said, you can always start as an agent for another company and for commissions. Over time, you can expand and become easily independent. Most agents, although it is somewhat of an investment at the beginning, pursue a solo career and meet exponential growth within the first two years. Therefore, what you are offered is experience and a chance to become your own boss. Also, if you happen to be great with people, you’ll acquire a client base while working for a company and those same clients might consider switching sides once you have started your own business.
You’ll meet new people
As this job requires you to be quite communicative and engaged with people, you’ll have the unique chance to meet many clients and some might even turn your life for the better. Once you have gained your client’s trust, chances are you’ll engage in other businesses as well and become somewhat of an entrepreneur. There are few careers that provide such opportunities, and many professions, although requiring direct human interaction, allow you to become familiar with your clients and build trust.
The market only grows
One thing we can assure you of is that the real estate market almost always grows and is prone to expansion. Simply, people need steady investment, and property has proven to be one of them. Also, people need housing, meaning they’ll need someone to introduce them to all the options available. And if you happen to live in a location where there isn’t much “going on”, we can assure you that within a 100-kilometer radius, you’ll find your luck and strike gold.
The numerous benefits are susceptible to market functions, as is every business; nonetheless, the business itself is nearly difficult to end and becomes useless. And, like with any business, it takes effort, but it pays off more than you may expect; according to current estimates, the typical agent earns approximately $90,000 per year, albeit these are only estimates; individual earnings may be more.