Real Estate is a versatile field. The ability to wear many hats on and off the ground, as well as the opportunity to engage in communications, government relations, buying and land development capacity is key to the success and understanding of this part of the business. There are many options within the field, and plenty of careers to choose from in development within the commercial or residential side of the business. People who find joy or interest in building homes or living spaces usually find themselves in residential real estate. The commercial end is not limited by personal taste, but is bigger in scale and one will find themselves dealing with larger property. This side of the business attracts people who are sales oriented and interested in commerce.
Here are 3 things to consider when you are looking to begin a career in real estate.
- Education and Licensing :Taking a real estate pre-licensing course within your state is important to gain certification. Different states have different rules and mandates in the issue of gaining your license as a real estate agent. Passing state and national licensing exams will also prove to be helpful in gaining the first brokerage experience at an agency.
- Brokerage and mentorship experience: Working in a brokerage gives agents the opportunity to gain clients and learn the ins and outs of working at a real estate firm. Brokerages are the offices from which real estate agents and brokers work. Working with a broker is a requirement in order to practice as a real estate agent, contacting a broker before graduating from a real estate course in order to learn more about the business is one of the best ways to learn about the business and what working in a brokerage entails. Most brokers tend to have three additional years of real estate training, and they can provide answers to questions on working within the agency.
- Developing a Real Estate Agent Budget: Learning to manage one’s self and finances will go a long way in working in this business. Unlike most professions, the startup costs of working in real estate are relatively reasonable. Some of the costs range from $1,500- 2000. It is often divided amongst business cards, signs, advertising and association fees.
Being a real estate agent means that you are making money based on commission. It is a commission based business so keeping money aside for a few months is highly encouraged, especially when you are just beginning in the field.
To find out more about real estate and real estate careers see this extensive write up on investopedia