It's a hard way to make a living from the start, experience comes slowly because you won't be selling that many homes.
From writing an offer it can take 1-2 months before you get paid.
You have to be ready at the drop of a hat to change your plans to work around your clients. If they want to see homes Saturday when you had family plans, your plans change.
No steady income. One year you can do well and the next you are not. You will haul people around at $4 a gal of gas for days and never hear from them again.
New agents get stuck on desk duty answering hundreds of calls for other agents.
Someone is always trying to get you to buy this, try that and subscribe to this and in time you find out it was all a waste of your money. Experience again is key.
There are good things too, don't get me wrong but many people don't really understand how little a new agent is probably going to make for the first 3-5 years.
You are a independent contractor so you buy your own insurance, gas, etc and it adds up.
Good luck, go in with eyes wide open.
Did you scratch your chin and say to yourself, "I think I will try Real Estate"
Or did you say to yourself, "I think I want a full time career in Real Estate. I think I have the tools to guide people through one of the most stressful events of their lives and make sure they are represented properly."
1. Are you prepared to do it full time, and give it several years without making a lot of money?
Most people think they can keep their current job, and do real estate part time as they build their business. Or you have the stay at home moms thinking they can do it part time to make some extra cash. That doesn't work. It needs to be a full time effort.
2. Are you prepared to work days, nights and weekends? It's not as easy as getting your license, joining an office, work 8-5 and just let the business roll in. You have to CONSTANTLY work at finding leads. You have to constantly market yourself. You have to constantly search for new ways of finding business. Finding the business is half the challenge (or maybe 70-80%). The other half is getting through transactions.
3. Are you prepare to ride the ups & downs? I'm not even talking about the market! This business has many day to day "ups and downs". You'll be flying high one day when you put a contract on a home for a buyer and they are so appreciative and thankful. Then you crash & burn the next day when there are issues found on another house with other clients, and they back out of the deal. And it gets worse when they look for someone to blame, and it's YOU ! (and you obviously have nothing to do with the structural issues on the house!) Seriously. It can be a rough spot to be in.
Don't get me wrong. I love my job. But, it does have its drawbacks and it's not for everyone. I'm a fairly new agent (4 years) and still adjusting to the ups and downs. The good news is that each year gets better, and you're constantly learning and improving the way you do business.
I think #1 is being educated & continuing education. Just like going to college for a four year degree...
Education never stops!
#2 - you have to be passionate about this industry. It can be very rewarding at times, and extremely difficult the next.
#3 - I think researching and talking with successful, experienced agents is key. Find a mentor and learn as much as you can.
#4 - You can never learn "everything" about this profession as it continuously changes.
Just understand it's a huge investment of time and money to start - but can be so rewarding once you see what a great service industry this is!
Good luck to you,