Do You Have What It Takes?
Why Enter the Real Estate Field?
The real estate field is a career area filled with exciting opportunities. It provides the opportunity to help others, the opportunity for freedom and independence, the opportunity to take advantage of your personal strengths, and an opportunity for security.
If you want the opportunity to earn a good living, meet interesting people, and have flexible hours, real estate may be the career for you. Many people have found a real estate career to be both personally and financially rewarding, and you can too.
Is the Real Estate Field for Me?
A real estate career is a business, your business. You can start your business without the large start-up expense typically needed to start a business. In many areas of the field, you will be an independent contractor. There will be no boss telling you what to do, you set your own hours and come and go as you please. That means that you will be paid exactly what you are worth.
Do I have what it Takes to Succeed?
The real estate business is not for everyone. In order to succeed, you need to be a self-starter, to be motivated and persistent. You must be able to plan and more importantly, work your plan. Above all, you must be able to handle rejection. To find out if you have what it takes, answer and consider the following questions:
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Am I willing to research the initial costs involved for licensing, dues, fees, professional equipment and insurance?
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Will my savings or an alternate source of income prepare me to wait several months before my first check comes in, or do I require an immediate income?
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Is my wardrobe adequate to begin my new career?
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Do I have a clean well-maintained car available on a daily basis?
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Have I considered what is involved in balancing my real estate schedule and my family time?
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Am I willing to commit the time necessary to succeed? Am I willing to work evenings and weekends?The top 10% in the business work 40 to 60 hours a week.
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Is my family supportive of my career decision? Do they understand the unpredictable nature of the business?
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Is my health and energy level adequate for the demands of the profession?
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Are there any personal problems or commitments that might interfere with my career goals?
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Have I developed a timetable for transition?
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Will I be thoroughly committed, self-motivated and dedicated to my new career?
If you have answered the above questions to your satisfaction, please read on.
What Career Opportunities are Available?
The real estate business is a big business and provides many opportunities. These include:
What Can I Expect To Earn?
As mentioned earlier, you will be in business for yourself, and your income depends on you and the area of real estate you practice. According to a 2005 study conducted by the National Association of Realtorsâ a person with a salesperson’s license earned a gross median income of $38,300 and a person with a broker’s license had a gross median income of $81,200.
How Do I Get Started?
The real estate field is regulated by state government and requires licensing. The qualifications for licensing vary from state to state, however most requirements are in the areas of:
Once you are licensed, you are permitted to conduct real estate related activities under the sponsorship of a broker in the state in which you are licensed. Real estate licensing requirements
Mike Fair
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