Being a real estate agent can be challenging, but it can also be a lucrative and rewarding career. When you work at a brokerage that provides industry-leading training, utilizes the latest technology, and creates an environment of teamwork and trust, it alleviates many of the difficulties faced by the average real estate agent. The key is to have dedication, a solid work ethic, and the right skills.
Real estate agents act as intermediaries between buyers and sellers. They provide valuable insights as they guide the parties through the buying, selling, or leasing process. Once you earn your Massachusetts real estate license and sign on with a brokerage, you will be responsible for managing a wide range of tasks, from marketing properties to negotiating deals. That means you will need communication skills, knowledge of your local market, and understand state property laws. But is being a real estate agent hard? Let’s take a closer look at a real estate agent’s job requirements, the challenges they face, and the potential rewards.
Being a Successful Real Estate Agent Takes Work
Skills and Traits You Must Have or Learn
Becoming a successful real estate agent requires having or developing the a few necessary skills. A top-tier brokerage will have training programs in place to help you every step of the way.
- Time Management– This is possibly the most important skill of all. Real estate agents need to balance multiple clients, lead follow-ups, appointments, and back-office work, all while meeting tight deadlines.
- Effective Communication – Whether you are negotiating deals, trying to capture a lead, or marketing your properties, you must be able to clearly and professionally convey your message. You must also know how to listen and understand your clients’ needs.
- Sales Skills – A real estate agent must be able to close deals. That means persuading potential buyers to make a decision, convincing sellers to accept an offer, or helping renters sign a lease.
- Industry Knowledge – While you will learn much of this during your real estate licensing course, there is more to it than memorizing laws and terms. You must know the towns and neighborhoods in your area – including properties on the market and changing inventory – and keep up with market trends.
- Positive Attitude – Your attitude sets your trajectory. To build a rapport with clients, close deals, support your team, and learn from mistakes, a positive attitude is essential.
Challenges faced by real estate agents
Being a real estate agent also comes with its own set of challenges. Real estate agents may need to work long hours to close a deal. They must be available to their clients when needed, sometimes even on nights and weekends. Effective time management skills are critical to balance work and personal life.
Finding clients can be difficult if you work for the wrong company. That’s why it’s so important to choose a brokerage with a steady stream of leads, relationships with property owners, and lots of keys. However, real estate agents must still be skilled at marketing themselves and their properties to attract clients.
In general, real estate is a people business. That means dealing with the occasional difficult client is inevitable. You must be able to handle stressful situations calmly and professionally. Having a team to support you can help you build those skills and implement strategies to transform your challenge into a great deal.
A common complaint in the real estate industry is unpredictable income. An agent’s income depends on the number of commissions they earn. Those commissions depend on the number of leads the convert to clients and the number of deals they close. If you have signed on with a company that gets leads and continually provides training, income regularity is no longer a concern as long as you put in the work.
The Numerous Rewards are Well Worth the Effort
Financial Rewards
You can achieve substantial financial rewards as a real estate agent. Agents receive commissions for their services, which can vary depending on the type and price of the property being sold. The importance of joining a brokerage that has a good “split” and is upfront about it cannot be understated. The split means the percentage of a commission that goes to the brokerage versus the percentage that the agent earns. Successful agents may also receive bonuses and incentives for exceeding sales targets. Moreover, real estate agents can leverage their network and experience to generate additional income streams, such as investment opportunities, supporting services, and long-term financial gains.
Personal Rewards
Being a real estate agent can also be very rewarding on a personal level. It can be incredibly satisfying when you help a client find their dream home or apartment, sell their property, or find a commercial property for their business. Agents also help clients navigate some of the legal and financial requirements that individuals and families can find overwhelming. Real estate agents play a vital role in helping their clients achieve their goals and can make a amazing impact on their lives.
Tips for Succeeding as a Real Estate Agent
If you’re a new or aspiring real estate agent, here are some tips to help you succeed. For more information read our article on How to Become a Successful Real Estate Agent in Boston.
- Stay organized and manage your time wisely. This helps you ensure your clients’ needs are met with timely service, your paperwork is done, and no leads fall through the cracks.
- Learn as much as you can. Training is essential to success.
- Stay up to date on your local real estate markets and industry trends.
- Use the right technology to streamline your work, market properties, get leads, and close deals.
- Network and build relationships with other real estate agents, brokers, and industry professionals.
- Ask the right questions before joining a brokerage.
- Get hired at a real estate company focused on teamwork and trust. Nobody who is successful does it alone.
Real Estate is a Great Career Choice
Success in your real estate career, much like success in any other career, takes hard work and dedication. But unlike many other careers, the personal and large financial rewards vastly outweigh any challenges you may face when you’re starting out. By joining one of the real estate companies in our jobs network, you will have all the tools you need to build a successful and fulfilling career in real estate.
Get started today by checking out available real estate jobs.
