So, You Want to Become a Realtor? Here’s What You Should Know!
Becoming a Realtor can be an incredibly rewarding career, offering flexibility, the chance to meet new people, and the satisfaction of helping clients achieve their real estate dreams. However, it’s not a path to be taken lightly, and there’s more to it than meets the eye. Before you dive in, let’s talk about the financial commitments, the realities of the job, and a few personal insights from the field.
Starting Costs: Be Prepared to Invest in Yourself
When you start your real estate career, you’ll quickly learn that it requires an upfront financial investment. Many new Realtors don’t anticipate these initial expenses, which can be a surprise. Here’s a breakdown of typical costs:
- Board Dues: Membership with your local and national Realtor associations is mandatory if you want to access the benefits of being a Realtor.
- MLS Dues: To list and view properties, you’ll need access to the Multiple Listing Service (MLS), which comes with its own annual fees.
- SentriLock or Key Fees: Many areas use lockbox systems to provide secure property access, and these systems require subscriptions or special equipment.
- Continuing Education: Staying licensed and competitive means ongoing training.
- Marketing Costs: Signage, business cards, and social media ads can add up quickly.
Altogether, these expenses typically total between $1,500 to $2,000. Make sure you’ve saved enough before you start to avoid stress during those critical first months.
Real Estate is Commission-Based
Unlike traditional salaried jobs, real estate is commission-based, meaning you only earn money when you close deals. This structure can be liberating for motivated individuals, but it also means income can be inconsistent. A successful month might be followed by weeks or even months with no closings.
To thrive, you’ll need strong budgeting skills, a willingness to hustle, and the ability to handle financial uncertainty. If you’re not comfortable with this type of income structure, real estate might not be the best fit for you.
Real Estate: It’s Not Just About Pretty Houses
The perception of Realtors driving luxury cars, walking through pristine homes, and closing deals might seem glamorous—but there’s so much more to the job. Real estate demands:
- Hard Work: Late nights writing contracts or negotiating deals.
- Flexibility: Weekend showings, last-minute client calls, and unplanned emergencies.
- Problem-Solving: Everything from navigating challenging home inspections to finding creative solutions for unique client needs.
This career isn’t for everyone, and that’s okay. It requires grit, adaptability, and an ability to thrive under pressure. If you’re not ready for those demands, real estate might not be your ideal fit.
A Pool Story: Beyond the Office
To illustrate just how varied and unpredictable a Realtor’s day can be, let me share a story from my own experience.
I once had a listing with a gorgeous backyard pool—an absolute selling point. The only problem? The pool wasn’t exactly in show-ready condition. Instead of relying on someone else, I took matters into my own hands.
I spent over eight hours ensuring the pool was full, clean, and crystal clear. From scrubbing and balancing chemicals to adjusting the water level, I poured my sweat into that project. Was it glamorous? No. But it was necessary. Those extra touches made a difference, and the home’s appeal skyrocketed as a result.
The Bottom Line
If you’re passionate, hardworking, and prepared for the challenges, a career in real estate can be incredibly fulfilling. But it’s essential to go into it with your eyes wide open, both financially and mentally.
Take time to research, prepare for the startup costs, and consider whether you’re ready to commit to the unexpected and sometimes unglamorous work that comes with the territory.
Real estate isn’t just about selling homes—it’s about serving your clients and going the extra mile, even if it means getting your hands dirty. And remember, in this commission-based world, you only get paid when you succeed. If that excites you, then welcome to the journey!