Working in Real Estate: 8 Surprising Challenges

So, you’re considering working in real estate? You’ve heard a lot about flexible hours, being your own boss, and hefty commissions. Sounds fantastic, doesn’t it? Well, there’s a lot to real estate that you should realize before you take the plunge.

If you’re looking for the unvarnished truth of what the real estate industry is like, you’ve come to the right place. Give this article a read to learn more.

You’ll Need to Get Used to Juggling

If you thought juggling multiple tasks was difficult before, just wait until you enter the challenging world of working in real estate. You’ll quickly become a pro at managing numerous things at once.

Researching, carrying out, and finalizing multiple transactions is no easy feat–on top of that, you have to keep in mind each family’s specific preferences so you can find them their dream home. If ever you come across a new resource that makes your job easier, hold onto it tight!

It’s an Investment

You’ve probably heard that becoming a real estate agent is one of the least expensive businesses you can start. And while that may be true, it’s really not inexpensive to become an agent. When you add up the cost of courses, state exams, membership in local and national boards, errors and omission insurance, lockbox access and multiple listing service access…all those fees begin to add up quickly. Not to mention any marketing materials you decide to purchase. 

All of these expenditures are long-term investments when working in real estate. They are essential purchases that will help you get off the ground and develop your company. It would be great if they could explain this to you during your classes so you understand how much money you’ll need when it’s time to start a new job.

You Won’t Use Everything From Your Pre-Licensing Class

Fresh out of pre-licensing class you are ready to conquer working in real estate. It doesn’t take long to realize that you don’t have a clue as to what you need to do to become a successful agent. You discover that your pre-licensing class was just the tip of the iceberg. The pre-licensing class may have left you in the dark about how to actually operate a real estate business. How do you prospect for clients? What do you do once you finally get one? And the frustrating part is trial and error because it’s hard to learn what you don’t know.

It Takes Time

There is no such thing as an overnight success with working in real estate. Nothing can prepare you for how long it will take to get your first client and, more importantly, develop a successful real estate business. It might take three to six months before you receive your initial customer. 

This does not imply that you should go to settlement; rather, it’s about obtaining a client. Though you might find moderate success early in your career, don’t be fooled into thinking that it’ll always be easy. Creating and sustaining a business requires careful planning, dedication, and time commitment.

It Requires a Lot of Effort

If your introduction to working in real estate was through reality TV, you might be unpleasantly surprised to learn that it’s not as easy as it seems. It’s not that being a real estate agent is rocket science, but there’s more to it than meets the eye. The most successful agents are always working on their business: seeking new marketing strategies and ways to reach more potential customers.

As a real estate agent, you can’t afford to take it easy. Every day, or in the blink of an eye, your company will wither if you don’t make something happen.

It’s Not as Glamorous as it is on TV

Reality television often makes working in real estate look easy and even glamorous. However, this is far from the truth. While it may appear that way on the surface, there is a lot of hard work that goes into selling a house or helping a buyer settle. Real estate agents are willing to do whatever it takes to get the job done.

The high-end real estate market is highly competitive, and you must differentiate yourself from the competition. We don’t have the luxury of saying, “That’s not my job.” You may need to perform menial tasks such as sweeping floors, rolling up carpets, making beds, and a variety of other chores. When it comes to working in real estate, we do whatever is necessary to help our customers sell their homes and keep them happy.

You’re There for Clients During Difficult Days

The next reality of working in real estate is working with clients. If you don’t enjoy interacting and communicating with people, then this profession will be a bad fit for you. Even if you do love people, there will still be an adjustment period. You won’t always have ideal clients who conform to your expectations. A lot of sellers unrealistically think that their houses are worth more than they actually are in the market, and a corresponding number of buyers believe that their money should enable them to purchase more expensive homes than it realistically can.

If you want to be successful working in real estate, it is important to be honest with your clients from the beginning and manage their expectations. If you set unrealistic standards, they will hold you accountable when you inevitably don’t deliver  what was promised. And keep in mind it is their decision whether or not to take your advice.

You’ve Got to Commit to Succeed

Many people believe working in real estate can be part-time, but this is not the case in most areas. Things move at a rapid pace in today’s world; as a result, serving your clients effectively and working another job is nearly impossible. We’ve seen numerous real estate brokers come in and fail because they weren’t dedicated to the business full-time.

You’ve got to show up at the workplace every day, market on a regular basis, exhibit property on a regular basis, and, in total, you’ve got to work on a daily basis. When you have another job to focus on, this may be difficult.

But… Don’t Give Up

What a real estate agent doesn’t tell you might fill a book. However, there are several appealing aspects to working in real estate. The finest aspect of our work is that we get to assist people in both their good and bad times. We have a choice over when and how we accomplish our tasks. We have the potential to grow a successful business the way we choose. You’ll discover more about yourself, your customers, and how to run your firm with each real estate transaction you complete.

It’s been said that getting what you want is not simple, and being a successful real estate agent is no exception. Keep fighting; don’t give up; and try your best every day. Be prosperous!

We hope this information has shed some light on the subject for you. Just as with any other type of business, working in real estate has its own set of problems. Is it difficult to be in real estate? Sometimes, yes. Every difficulty, however, is a new opportunity to achieve success. The challenges are what make becoming a successful real estate professional so exciting. With its flexibility, there’s no limit to what you can potentially achieve. Now, you’re ready to start the first few steps to becoming a real estate agent in Florida.