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Updated about 6 years ago on . Most recent reply
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First job out of college - do I become a realtor?
Hey y'all, I'm approaching graduation from Baylor University in May. I will be getting a degree in Finance and Entrepreneurship with a concentration in Real Estate. Through my finances courses I stumbled upon an intro to RE class and loved it! After that I kept going and will have taken all of them by the time I graduate. I really love this industry and cannot imagine working in another field.
With that said, I want to hear your opinions on whether or not I should pursue my RE license as a starting point for REI. I want to work in the field, make connections, and make some money to finally get into it. Yes, I'm aware that you don't need 4 years of college to get your RE license and some may say that is a waste, but I see it as a stepping stone rather than my career for the rest of my life.
On the other hand, I am qualified for finance jobs that will potentially provide higher income and job stability. However, if I were to land a job not relating to real estate, I fear that my time and energy would push me farther and farther away from my ultimate goals of REI due to my innate ability to focus and dedicate everything to what is in the present. After such, I see myself posting one of those forums "should I quit my job to get into RE?" to which it all depends.
Now here is the dumb question, should I settle to get my RE license but gain expertise? Find another job in the RE industry also to gain expertise? Get a job in another industry and try to jump in with less expertise later?
Any opinion is appreciated, I'm just a kid who doesn't know what they want to do when they grow up haha :)
Most Popular Reply
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Out of the gate, a job in finance is likely to pay higher than a job in real estate sales. It is also a safer, less risky avenue. 87% of real estate agents fail out of the business in under 5 years. However, if you are good at it....it can provide an avenue to likely making more money than someone in finance, but very few do. The median income for a real estate agent is $45k. However, my best friend is in finance, and is a managing director of a major banks wealth management division....so he does very well....but I make a lot more than he does, and I only consider myself moderately successful. I have multiple colleagues that make in excess of $1 million per year. The agents at the very top of the industry....which is not a realistic goal to have, top out in the $10-$15 million per year range.
- Russell Brazil
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- Podcast Guest on Show #192
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