What are the pros and cons of being a realtor?

Having the flexibility to choose your own schedule and having unlimited income potential are pros of being a realtor while experiencing rejection, and it takes time to be successful are the cons.

• Pros:

  A majority of real estate professionals get into the business because they want a flexible schedule. And it's true, in real estate, you are your own boss and can arrange your day so that you're able to attend your child's sporting event or be home for the after-school rush. You don't clock in and clock out every day.

  Having flexible hours certainly doesn't mean you have an easy job. "The standard workweek is 40 hours," says U.S. News, "although many real estate agents will be asked to work beyond the typical nine to five, especially since many client meetings take place on weekday evenings and weekends."

  This could mean that while you get to take time off on a weekday afternoon to visit your child's classroom, you might also have to skip family time on Saturday. Fortunately, there are a number of time management tools that are available for realtors to outsource tasks and make daily tasks easier and faster.

  Another benefit to being a realtor is essentially having no cap on your income potential. Real estate professionals make, on average, twenty-five percent more income than all workers, but there is no cap on how much you can make. The stronger your business skills are, and the more you put into the career, the more you'll get out of it.

  Since you're in charge of your own transactions, there isn't a salary cap or a set amount of time you have to work before you get a raise. The sky's the limit. On the opposite end, you will not have a safety net during slow periods. Because you are not earning a salary from an employer, your earnings will be based on your monthly transactions.

  This means that you can have a month where your income stream is extremely generous, or you may have months where your takeaway is less. It is recommended to create a savings account first. This will help you keep your business running if you go through a slow period.

• Cons:

  Like any other career or industry, there are cons that should be considered when pursuing a job as a realtor. One of the biggest cons is experiencing rejection. Agents get rejected a lot! You will be prospecting perfect strangers in addition to your sphere of influence. Not everyone is going to need a real estate agent.

  It is important that you do not take rejections personally and that you do not allow them to stop you from pursuing new leads. Remember that the job of a realtor is competitive, and do not get discouraged. Look for ways to differentiate yourself from others. Finding a niche is one way to do this.

  Another con to being a realtor is that it can take time for your business to get off the ground. As a matter of fact, many realtors work another full-time job while trying to build their real estate business. It can take new realtors months to find their first client and close their first deal.

  There is a lot of work that agents do before they ever see profits, such as prospecting, advertising, and conducting open houses.