If you are at a point in your life when your current career has reached a dead end, or you simply are tired of the vocation you have chosen, then you are likely thinking about another line of work. Perhaps you are young and haven’t decided on a career yet. You are taking a few classes in college and are not sure about the path you want to take in life. Whatever your situation may be, you should give consideration to a career in real estate. The following are a few reasons this may be a good road for you to take.
The sky’s the limit for income
There are truly no income limits in real estate. Many brokers begin small by selling a single property at a time. Often this will be in the low to middle price range for single family homes. This is a good place to start. However, since you are working on commissions, you can work your way up to higher priced homes where the commissions are naturally much higher. There is more competition up in this range with other agents, but once you have developed the skills needed to sell, you may find yourself able to make big commissions.
There are many types of real estate transactions
You may be familiar with home sales, perhaps you have bought a house yourself, but there are other types of real estate that is bought and sold. Apartment complexes offer big income potential as well as the entire area of commercial real estate. In this latter area, for a real estate broker there exists many subdivisions. Examples include strip malls, industrial buildings and multistory office buildings. Over time, you will get a feel for what you are best at selling as well as what you are most interested in. Some buyers of real estate may be individual investors, while other types of real estate will attract businesses wanting to buy for their operations.
It is usually easy to find employment
Once you get your license, it is usually easy to find a job. This is due to the fact that so many real estate firms have their agents working on commission, but this is a good way to start out as a real estate agent. You can watch how others go about their business and take mental notes on how each successful agent operates. By observation, you will learn what works and what does not work to succeed in this business.
You can start your own business
Many of the most successful real estate agents have become extremely wealthy by starting their own brokerage business. Often the business has a humble beginning, operating as a one person company. Over time, as the business grows, employees are added, both office personal and sales people. Large real estate brokers have started in this manner. However, a single person can make a large amount of money with his or her own business by being the lone sales force with a strong supporting staff. Concentrating on large dollar transactions, you may need office personnel to help you do much of the work that is not directly related to generating the income.
Compared to other professions, it is easy to get started in the field of real estate. To get a real estate license in Nevada you will need 90 hours of courses in a class setting. Half of this will be the principles and practices of real estate. The other half will be in real estate law.