Are You Ready to Be Your Own Boss?

Does being your own boss sound intriguing to you? Not having to answer to anyone, setting your own schedule, finally being able to have the time and money to do the things you want. In the wake of COVID-19, many Americans are opting into self-employed career changes at an unprecedented frequency. However, transitioning to a self-employed role can be overwhelming as well. If you’re interested in being your own boss, a great way to launch your self-employed career is becoming a REALTOR.

Being your own boss does not start out with all of the glamorous luxuries that are associated with it at first. That takes time, dedication, and a lot of hard work. There are some questions that you have to ask yourself before starting on this path, and it is very important to be honest with yourself. The first question you have to ask is how do you deal with problems. Followed by the ability to handle finance, organizational skills, and people skills. All of these are extremely important, and the ability to answer these honestly is crucial. When you are truthful you are able to reveal what needs to be worked on, and propels success.

There are a multitude of advantages to becoming a real estate agent. For one, you have the power to control your schedule. If there are things you need to attend on certain days then you just don't work on those days. Furthermore, there is unlimited potential for your income. There is no salary cap since you’re in charge of your own transactions. The job can be extremely satisfying. Every day you have the opportunity to show clients beautiful properties and help them find their dream homes. Being instrumental in such a significant part of peoples’ lives can be very rewarding. 

Of course with all of these benefits, there are also down sides. Without having a set schedule, it’s possible you could be working a lot more than you might want to. Without the proper motivation you might not work enough which can adversely affect your income. The best way to avoid this is to practice and perfect your time management skills. Additionally, with the possibility to make as much money as you can and not having a salary cap, your income is based on your sales each month. If you have a slow month where you are not selling a lot of houses you don't get paid; the job is based on commissions. To avoid running out of money make sure that you have a proper savings account set up before doing real estate full time. When you have a savings account set up you are already prepared for slow times, and when they come you have money to draw from. Just make sure to replenish that account when things pick back up.

With real estate you are dealing with people every day, and when people are making a huge investment like a house they can get very stressed which leads to irritation. When this happens you need to make sure to stay calm and help them through it. Another great way to stay ahead of client issues is to develop a network of other real estate agents. When you do this and come across a problem you can call them for guidance.    

Before starting your real estate career make sure you are properly prepared. Weigh your pros and cons and make sure it makes sense for you. If you’re ready to make the change but aren’t financially ready for the up front costs, many brokerages offer scholarships to assist with licensing. Key Realty offers scholarships to all prospective agents. Selecting a company that has your best interests at heart and provides ample training and mentorship is the first step to sealing your success in real estate!