Is Real Estate A Racket?
That depends on who you ask. Some people tend to think that real estate agents sit back and do very little work while they collect huge commissions on home sales. This might be true especially of people who have dealt with bad or lazy agents. Personally, I believe that to be a successful real estate agent requires a patient, motivated person who is dedicated to building a business. Real estate agents work long hours; they are always on call, and they need to make themselves available to working professionals who may only be able to go out looking for houses on evenings and weekends. They’ve got to stay on top of their market and be a constant source of information about inventory, prices, and sales data in their local area.
Not only is the job never over, but a starting sales agent makes a salary of exactly $0. Nine times out of ten, you’re getting your start in the business without so much as a single client. You foot the bill for your own marketing plan, and often that means spending money you haven’t earned on billboards, TV and radio commercials, mailings, web and magazine advertisements, and branding merchandise, just to have the opportunity to drop your name where people will hear it.
I’ve never been a real estate agent, nor do I ever anticipate changing careers toward home sales. But I have completed the real estate certification course in the state of Virginia, so I know a great deal about the housing market (which is the main reason I created this website). I took some basic economics classes in college but have been self-taught beyond that, and so I have more than a layman’s understanding of how our economy works. Most of the agents I’ve observed, known, or worked with, are especially determined individuals who know what it means to work hard. It’s not physically demanding labor, of course, but making and keeping a network of social connections takes lots of upkeep. So is being a real estate agent easy? I would offer that there are professions which are much easier. Can you make a good living at it? If you’re determined to succeed and you’re a good businessperson, it’s quite possible.
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