Are you thinking about becoming a real estate agent for the next chapter in your life? Perhaps you are in a mid-life career slump. Or maybe your goal is a new professional adventure post-retirement. Whatever your reason, you’re far from alone in looking at real estate as an encore career.
In a 2018 survey of its members, the National Association of Realtors (NAR) found that about 95% of those who responded said that they started their professional life in a career other than real estate. So, as you consider making the leap, know that you’d be joining many others from all walks of life who have made the real estate business their second-act. But before you do, it’s important to mull over the realities. Here are five questions to help you do that, including a look at the plus sides.
1 - Can you commit to the study requirements for licensure?
You’ll need to invest time and energy in pre-licensing education before you can take the real estate exam. In Georgia, the requirement is 75 hours of coursework at a Georgia Real Estate Commission approved school like the Ben Farmer School of Real Estate. The number of hours may not be overly onerous, but make no mistake, the complexity of the coursework and the breadth of material you must learn require serious commitment and hard work.
On the Plus Side: Compared to some other professions, you can complete the education requirements relatively quickly – in a manner of weeks. And at the Ben Farmer School of Real Estate, you can choose either a classroom setting (12-week course) or an online course (anytime, anywhere). We also offer a cram course to help you prepare for the exam.
2 – Are you all set for working on straight commission?
If you are accustomed to a regular paycheck, working on commission can be disquieting and financially challenging. There is a real possibility that it may be a while before you cash your first commission check. Meanwhile, you’ll have to cover your startup expenses and the costs of your day-to-day life. If you don’t have a nest egg put away, it could be a tough go.
On the Plus Side: As the captain of your own fate, you won’t have someone else placing salary caps or raise restrictions on your earnings. Work smart, hard and consistently and the sky’s the limit.
3 – How willing are you to trade evenings and weekends for flexibility?
If you’re like most people, when you think of a real estate career the freedom to set your own hours comes to mind. There’s a caveat though. Your clients are likely to have regular day jobs. That means you’ll need to be available during their free time. Are you okay with working irregular hours and even some holidays in order to gain flexibility at other times?
On the Plus Side: You don’t have to clock in or clock out. So, for the most part, you’ll have latitude in deciding how your days will look and in making time for hobbies you’ve put on the back burner.
4 – Can you call on prior experience in wearing many hats?
As a real estate salesperson, you’ll wear a variety of hats in your daily professional life. One minute you’ll be handling marketing, sales, or business operations. The next you may be an educator, a negotiator, or scheduler. And some days, you may feel like a tour guide or a professional juggler.
Depending on what you’re used to from your previous work life, it can lead to feeling overwhelmed.
On the Plus Side: Every day has the potential to be a new adventure, and the work is anything but boring. You can flex the skills you already have, pick up new ones, and hone your versatility.
5 – Are you up for dealing with a mixed bag of personalities?
As you weigh the pros and cons of getting your real estate license, seriously consider how you feel about being in a “people business” at this particular stage of your life. You’ll encounter all kinds of personalities and decision behaviors – some more difficult than others. Are you up for the challenge or does the thought give you pause?
On the Plus Side: Chances are, most of your clients will be reasonable to work with. You also get to meet lots of new people and expand your network. And, difficult clients can keep you on your toes, making you a better agent overall.
Real estate is a career that rewards hard work, and the work is highly rewarding. If you decide that it’s right for you, let the Ben Farmer School of Real Estate help you get started on your encore career. Just give us a call at (912) 692-1085 ext. 2 or fill out the email form on our website. We look forward to hearing from you!
In a 2018 survey of its members, the National Association of Realtors (NAR) found that about 95% of those who responded said that they started their professional life in a career other than real estate. So, as you consider making the leap, know that you’d be joining many others from all walks of life who have made the real estate business their second-act. But before you do, it’s important to mull over the realities. Here are five questions to help you do that, including a look at the plus sides.
1 - Can you commit to the study requirements for licensure?
You’ll need to invest time and energy in pre-licensing education before you can take the real estate exam. In Georgia, the requirement is 75 hours of coursework at a Georgia Real Estate Commission approved school like the Ben Farmer School of Real Estate. The number of hours may not be overly onerous, but make no mistake, the complexity of the coursework and the breadth of material you must learn require serious commitment and hard work.
On the Plus Side: Compared to some other professions, you can complete the education requirements relatively quickly – in a manner of weeks. And at the Ben Farmer School of Real Estate, you can choose either a classroom setting (12-week course) or an online course (anytime, anywhere). We also offer a cram course to help you prepare for the exam.
2 – Are you all set for working on straight commission?
If you are accustomed to a regular paycheck, working on commission can be disquieting and financially challenging. There is a real possibility that it may be a while before you cash your first commission check. Meanwhile, you’ll have to cover your startup expenses and the costs of your day-to-day life. If you don’t have a nest egg put away, it could be a tough go.
On the Plus Side: As the captain of your own fate, you won’t have someone else placing salary caps or raise restrictions on your earnings. Work smart, hard and consistently and the sky’s the limit.
3 – How willing are you to trade evenings and weekends for flexibility?
If you’re like most people, when you think of a real estate career the freedom to set your own hours comes to mind. There’s a caveat though. Your clients are likely to have regular day jobs. That means you’ll need to be available during their free time. Are you okay with working irregular hours and even some holidays in order to gain flexibility at other times?
On the Plus Side: You don’t have to clock in or clock out. So, for the most part, you’ll have latitude in deciding how your days will look and in making time for hobbies you’ve put on the back burner.
4 – Can you call on prior experience in wearing many hats?
As a real estate salesperson, you’ll wear a variety of hats in your daily professional life. One minute you’ll be handling marketing, sales, or business operations. The next you may be an educator, a negotiator, or scheduler. And some days, you may feel like a tour guide or a professional juggler.
Depending on what you’re used to from your previous work life, it can lead to feeling overwhelmed.
On the Plus Side: Every day has the potential to be a new adventure, and the work is anything but boring. You can flex the skills you already have, pick up new ones, and hone your versatility.
5 – Are you up for dealing with a mixed bag of personalities?
As you weigh the pros and cons of getting your real estate license, seriously consider how you feel about being in a “people business” at this particular stage of your life. You’ll encounter all kinds of personalities and decision behaviors – some more difficult than others. Are you up for the challenge or does the thought give you pause?
On the Plus Side: Chances are, most of your clients will be reasonable to work with. You also get to meet lots of new people and expand your network. And, difficult clients can keep you on your toes, making you a better agent overall.
Real estate is a career that rewards hard work, and the work is highly rewarding. If you decide that it’s right for you, let the Ben Farmer School of Real Estate help you get started on your encore career. Just give us a call at (912) 692-1085 ext. 2 or fill out the email form on our website. We look forward to hearing from you!
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