Having a real estate license can lead to a very rewarding and lucrative career but there are a number of great advantages to having a license other than the income! Many people are attracted to the profession because of the flexibility it offers – caregivers can create their own schedules, retirees can earn a full-time salary with part-time hours, and night-owls can work into the wee hours of the morning. There are also perks like putting money in your pocket just by making an agent referral!
Save Your Friends, Family & Yourself Money
One of the many benefits of being a real estate agent is being able to buy and sell property without giving up a cut of your profit. As a matter of fact, real estate agents can take the commission that they earn from their own sale and put it towards their own downpayment. If you plan on buying and selling real estate at a rapid pace, being your own agent will significantly boost your piggy bank. This perk increases exponentially when listings offer bonuses to the selling agent!
Being able to credit close friends & family money back when they buy is an added advantage. Not only is it a kind favor, but it boosts the agent’s sales data and increases their publicity just by having a lawn sign. Friends and family are more likely to refer an agent once they’ve used them and can speak on their experience.
The Tax Write-Offs Are Everywhere!
Home office, car, computer, cell phone, car mileage – things used for business can commonly be written off to save you money on your taxes.
You Interview Your Employer–They Don’t Interview You
Brokerages want as many agents working under them as possible since they make money on every transaction. Therefore, they want you. It turns the tables so you are interviewing them and you select where you want to work and who you want to work with instead of hoping to land a job. You also determine how much of your income you’re willing to part with; some brokerages offer more advantages, but take a bigger chunk of your commission. Other brokerages offer bare-minimum offices and you pay a monthly fee almost like a club membership. There are a number of factors to consider when selecting a real estate brokerage.
You Determine Your Own Schedule
One of the greatest advantages to becoming a real estate professional is that you get to decide when and how much to work. If you only want to work a few hours a day, great. If you work best in the evening hours and sleep until 9 am on the weekdays, that’s fine too. You have the flexibility to schedule appointments during the work day without worrying about eating into your vacation days. Single parents can work around their children’s school schedules. And traveling isn’t such a hassle since you can work from virtually anywhere. Real estate agents work their jobs around their lives, they don’t work their lives around their job.
Your Income Is In Your Control
You decide how much effort to put in to earn your income. Perhaps your family only needs a supplemental income in order to afford the extras or perhaps you’re the sole earner in the house – either way, real estate is for you. If you hit your goal early, perhaps you work less for the rest of the year. If you need a raise, you don’t have to worry about that awkward conversation with your boss. You are your boss! Work really hard and the sky’s the limit.
Make Money Even When You Don’t Sell a Property
Want to make money just by picking up the phone? If your long-distance relative is looking into purchasing a new home, refer her to an agent in her own state and earn a referral fee. It’s that simple. You earn a percentage of the sale’s commission just for a quick phone call. In fact, many agents make a big portion of their income just through referral fees alone. Let another agent do the work and you reap the reward.
Think Outside the Box
With real estate, you’re not stuck in a cubicle or office all day every day. Agents spend a lot of time out and about meeting clients at potential properties or introducing themselves to future clients. Most real estate agents complete a large portion of their work from home! Sure, agents use the real estate office for formal meetings or closings, but you will never be confined within those walls.