It's Not All Opening Doors and Cashing Checks…

The Difficulties of Being a Real Estate Agent

I really enjoy watching some of the “reality” shows on TV, especially the Millionaire Real Estate Agent shows in Los Angeles and New York.  It amazes me the differences of what $10,000,000 can buy you in Manhattan compared to Beverly Hills.  It is demonstrated as a very glamorous lifestyle throwing large realtor events, driving high end sports cars, putting together deals over the phone and having your assistant “send over the paperwork”.  High price points and large commission checks.  I would hate to have to afford to live in those areas.  

I have been a real estate agent in the Triangle  for over 11 years now and some years have been better than others.  Some deals have been very easy while others have taken more work and skill to get to the closing table.  Regardless of what it takes or the reason, (helping someone achieve their goal of home ownership, relocating to the area, or selling in order to move to be closer to family) being a real estate professional is very rewarding.  There are also some things that people don’t see or don’t know about in the real estate world that make the career very challenging and not right for everyone.

Budgeting is extremely difficult as a real estate professional because there is no “regular” paycheck.  I have been in straight commission sales for over 20 years now and it is impossible to run a monthly budget when your income can fluctuate up or down 50% from one month to the next.  One of the hardest lessons to learn in real estate is to not count the paycheck until the deal closes, no matter how solid it seems.  We are dealing with the uncontrollable and unpredictable variable of human emotions.  Buying or selling a home is very emotional for both sides (buyers and sellers).  One day the buyer may be dead set on purchasing the home, have the loan all set up and ready to close next week.  Tomorrow they may wake up and decide based on a dream they had that they are supposed to buy the property and decide to terminate the contract.  (no closing = no payday).  Pretty hard to budget with the uncertainty of things.

Time Management is the absolute hardest aspect of being in real estate.  The job of being a realtor and doing what it takes to be successful is very simple.  Don’t get that confused with easy.  The job is hard, in fact very hard sometimes but the actions and steps are simple and easy to understand.  Lots of people say they get into real estate because of the flexible schedule which is definitely a job perk but there is a lot involved in the job description of a realtor and with all of that comes managing the time to get it all done.  Someone told me that if you allow it, real estate will infiltrate every second of your day and that is absolutely true.  With all these things on the list to do, it is very easy to get sidetracked doing the lesser important things and not focusing on the absolute main things that need to be done everyday and first (lead generation and lead follow up). 

Anything that goes wrong is your fault.  It is a tough lesson to learn and accept but in a real estate transaction, if something goes wrong or is misunderstood, it is going to be perceived as the Realtor's fault.  Most of the time it can be something that has nothing to do with the real estate agent but it always seems to fall back on their shoulders for the blame.  As an agent, we only control so much of the transaction.  We are hands off when it comes to the loan but be sure if something doesn’t work out, all eyes turn to you for not foreseeing the issue and catching it early.  Real estate agents are not home inspectors or contractors but if something shows up from the inspection that could be detrimental to the deal, eyes turn to the agent to explain why we didn’t see this before.  

Real estate can be a very fun and rewarding career.  Real Estate agents work hard to protect and create a winning situation for their clients.  It is a job that is not always easy and sometimes can be quite frustrating but where you can get a lifetime of fulfillment in helping others with one of the largest purchases of their lifetime and make lifelong friendships while earning a pretty decent wage.  If you are looking to get into real estate and want to openly talk about the ins and outs of this great career, give our team a call 919-300-5421.  If you are looking to buy, sell, or invest in real estate in the Triangle area, we can help you too.  Call or text (919-300-5421) or check us out online at WelcomeToCarolina.com