Pros and Cons of Being an Agent

18 November 2014

Choosing a career in real estate: pros and cons

As with different careers in varying industries, one in Real Estate entails several pros and cons. These, like many other things in life, are perceived differently from one person to another. Here, we try to break down three most widely talked about aspects of a job in real estate and weigh-in on how they might be positive or negative features.

Being self-employed

Pros:
You get to keep your independence to make decisions on your own. This, as opposed to being employed by someone else, means a greater control over what you feel is the right thing to do. Independence is arguably one of the most priceless perks of the job.

Further from that, as a salary-man, you have, to a certain extent, committed at least some of your time and energy to the company or employer you work for. As such, you do not have as much of a say in personal time-management as opposed to being a real estate salesperson.

Cons:
Working under minimal supervision can be a double-edged sword. Whilst you are less pressured to make decisions against your will, you also run the risk of making mistakes that could have been avoided. Even with a coach, leader or mentor, the risks remain apparent.

Mistakes encompasses that of not being able to immediately differentiate between genuine clients from perennial ‘time-wasters’. These though will definitely sort itself out, over time and experience garnered.

Flexible work hours

Pros:
One of the biggest perks of being a real estate agent is that you are never stuck with, what some might feel, a stifling, 9 to 5 job. You are the master of your own time, as you control your day-to-day schedule that works for you. Of course, this flexibility is extended to the fact you do not need to ask for permission for time off – you essentially get to decide when it is time for R&R or an extended vacation.

Cons:
The flexibility of schedule comes with a reason as well – it is to allow you to be flexible to your client’s schedule. As such, to a certain extent, you tend to be working when everyone else is not. Should you receive a call from a client, the likelihood of you dropping every other non-business related appointments on hand to attend to this client would be very high.

Also, the freedom to choosing your working hours, belies the fact that you might dwell in uncertain inactivity. Some people are attuned to having goals being set for them, of which tasks are defined and motivation to work is based on such. Being the master of your own schedule might allow you the leeway to ‘slack off’ and before you know it, descend into doing nothing at all. In these scenarios, a strong sense of discipline and self-motivation are key factors to succeed.

(In)Stability of Income

Pros:
Because your income is not dictated by an hourly/monthly wage and does not depend on a corporate salary range, what you earn is directly related to conscious investments, not only financially but also to time and effort. As such, the growth potential for a real estate sales person remains huge – you are not entrapped in a fixed wage or promotional structure and your income, to a huge extend, is down to the your investments (or how much you are willing to invest).

Cons:
Most rookies in the industry start off their careers with their cash-flow moving more towards the ‘out’ rather than ‘in’. This though is dependent on several factors of which has been discussed in a separate article.

Being a commission-based job, stability of income will become a cause for concern if you are accustomed to drawing a fixed wage. In such cases, you most definitely need to have the mind-set of an entrepreneur or businessman in that your financial management needs to be acute, saving or investing as needed during the ‘good times’ and budgeting well during the ‘bad times’.

Pros and Cons of Being an Agent

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