98% of people who earn their real estate license don't renew it for a second round (which is anywhere from 1 - 4 years later). There is a reason for this. If you think that beginning in real estate is "steady" or will be "easier" than other ventures you've tried, you may just want to save your money & put it towards your online businesses.
Unfortunately, most real estate agents think that selling a home is showing people a few houses & then sitting back & collecting their paycheck at closing. Reality TV shows further this stereotype. The things you don't see on television:
Getting up before the sun comes up to drive 45 minutes to beat rush hour traffic to cut cables from your listing's neighbors house who is stealing their utilities, taking photos of said cleared lines & submitting them to the bank so the underwriter will approve the loan application & fund for closing.
Re-keying a clients house out of your own pocket because an appraiser lost the key while doing an appraisal.
Hunting down the snowbird president of an HOA in Iowa to sign some paperwork that the property management company refuses to provide so that your client may actually get the loan completed & close on their first home. Did I mention the Loan Officer sat on this for two weeks doing nothing while withholding pertinent updates? And that I had to draft a legal document myself to cover me, the HOA guy & my buyer because it was a government loan?
What? You didn't see any of that on TV? Because it's not glamorous. It sucks. But it's part of the job & putting other people first. And if you're not a Put-Others-Before-Yourself person, don't go into this industry. If you can't hang when the situation goes to shit but you still have to make things happen even though there's a good chance you're not going to receive a paycheck, don't do it. If you are influenced or swayed by money in your pocket vs. your client's best interest, don't you dare do it.
If you can honestly say "yes" to all of this & then still be okay with the prospect of doing everything right & well by your clients & sometimes still not receiving a paycheck because the buyer got laid off 24 hours before closing & the bank revoked the loan, then yes, I think real estate could be rewarding for you. It's a nice way to earn a living, but starting out is anything but smooth & usually does not mean regular income. The "nice living" comes after building up your client's relationships & trust. That comes from taking care of people well. And that comes from knowing your shit & going the extra mile. All that takes time. Only you can decide if this is the right path for you. I can only try & give you a proper perspective on the reality of the job.
Unfortunately, most real estate agents think that selling a home is showing people a few houses & then sitting back & collecting their paycheck at closing. Reality TV shows further this stereotype. The things you don't see on television:
Getting up before the sun comes up to drive 45 minutes to beat rush hour traffic to cut cables from your listing's neighbors house who is stealing their utilities, taking photos of said cleared lines & submitting them to the bank so the underwriter will approve the loan application & fund for closing.
Re-keying a clients house out of your own pocket because an appraiser lost the key while doing an appraisal.
Hunting down the snowbird president of an HOA in Iowa to sign some paperwork that the property management company refuses to provide so that your client may actually get the loan completed & close on their first home. Did I mention the Loan Officer sat on this for two weeks doing nothing while withholding pertinent updates? And that I had to draft a legal document myself to cover me, the HOA guy & my buyer because it was a government loan?
What? You didn't see any of that on TV? Because it's not glamorous. It sucks. But it's part of the job & putting other people first. And if you're not a Put-Others-Before-Yourself person, don't go into this industry. If you can't hang when the situation goes to shit but you still have to make things happen even though there's a good chance you're not going to receive a paycheck, don't do it. If you are influenced or swayed by money in your pocket vs. your client's best interest, don't you dare do it.
If you can honestly say "yes" to all of this & then still be okay with the prospect of doing everything right & well by your clients & sometimes still not receiving a paycheck because the buyer got laid off 24 hours before closing & the bank revoked the loan, then yes, I think real estate could be rewarding for you. It's a nice way to earn a living, but starting out is anything but smooth & usually does not mean regular income. The "nice living" comes after building up your client's relationships & trust. That comes from taking care of people well. And that comes from knowing your shit & going the extra mile. All that takes time. Only you can decide if this is the right path for you. I can only try & give you a proper perspective on the reality of the job.
