How flexible is a career in real estate?

Question

Hey guys, I'll be finished with RE school next month and I'll be taking my liscensing test soon. I live in a fairly high price market(650,000 average)and grew up on the beach in socal knowing a large portion of people. My question is how flexible can a real estate career be? I started because I love working my own hours and having a high income potential especially in my area. It seems like the career is pretty free, but what if I wanted to changed cities and move somewhere else? I would hate being so young and staying in one place my whole life just for a career(I'll be starting as a real estate agent btw). Or are there more business options for me wherever I want to go? I appreciate the help guys, thanks!

Russell Brazil · Answer

Being a Realtor on one hand is the most flexible job there is, and on the other hand the most inflexible there is.  You are running a small business, so there is a lot of work to get it up and running. This can take several years.  It is very easy to work 80-100 hours a week and forget about your nonbusiness life.

It is very flexible in that if you set up your hours, that is when you work. But on the other hand you are at the beck and call of your clients (Kind of like landlording). So when they call you last minute to see a property, you jump. Also you are in essence always working.  Every social event becomes an opportunity to either meet a new client, or meet someone who may refer you to a new client. So in that sense it is very different from many businesses, because in a sense you are always working.

Ben Leybovich · Answer

Josh - I think you might have the wrong idea...

Agency is NOT like a small business. A business is by definition a system, while RE agency is by definition personal service. If you remove yourself from your agency, the money stops coming in. While in business, the system generates the revenue. See the difference?

Now - can you make a lot of money being an agent? Sure - however, every successful agent I know works like a dog!

The basic reality that I don't think you've thought through is this: You are there to represent people, which means you are on their time-line, not yours. So - by definition agency disallows setting of your own hours. You work when it is convenient for those whom you represent. Or, you don't, but then no $$ come in :)

Hope this helps :)

Jay Hinrichs · Answer

Josh L.  commerical real estate sales can be more of a 8 to 5 job.

residential resales is all encompassing.  the internet has changed this a lot compared to what it used to be .. IE we got a book with all the listings in it.. the public had no access to the book and you needed an agent.

Now we go through a progression which includes getting your buyer prequaled .. then they will usually do their own drive bys  and only when they focus in on potential properties will you actually show them to them.. Also in the old days we needed a big luxury type car as you had to haul them around along.. this no longer happens you just meet at the property in your respective cars..

But generally you need to be available  when most buyers are and that is evenings and weekends... trying to be a 9 to 5 resi resale agent won't fly in most markets. at least not to start.  But you should have most mornings to your self up until about 10 or 11.. when I sold RE I played golf 3 or 4 times a week in the morning then worked from 1 to 9pm

but I worked EVERY weekend except thanksgiving and most of december.. I NEVER took vacation in the summer. but I usually took from thanks giving to first week of Jan. off or very limited schedule

Dawn Brenengen · Answer

Josh L. You have the benefit of being in a great market where you have the potential to earn a LOT of money in this business.  My recommendation would be to save, invest well and then when you are ready to move, you have the flexibility to go anywhere you want because money isn't holding you back.  Just don't move to a place where the average sales price is 90k...you'll have to work a LOT harder to earn a fraction of the money! :)

Daniel Chang · Answer

Essentially, you are starting a small business.  And while it comes with pros of working on your terms, it comes with the cons of inflexibility of moving, just like any small business.  If you move somewhere else, you would carry with you the knowledge of how to rebuild your business, but therein the word "rebuild".

Recently, I met an agent that moved to SD from IE many years ago.  But still, his business is in the IE and commutes to the IE everyday.

Bill Gulley · Answer

I strongly suggest you stay put because knowing people is the foundation of being a Realtor. Make some great money then move or better yet, own your agency, put a trusted broker in charge with incentives and go travel.

RE is too flexible for many, it takes drive, dedication and persistence to do well and no one is kicking your tail to go to work. Many end up spending too much time in the bars it's so flexible.

If you're in a high dollar market and you know a lot of people that can buy or sell, you may have a gold mine. Grow where you are planted!  :)

James Wise · Answer

If you truly want to succeed you will need to put in your time. Many successful agents work 70+ hours a week. However the type of agent you are can have an impact on the control you have over your schedule.

If you primarily work with owner occupied buyers your looking at a lot of nights and weekends. As others have said you need to be available when they want to the homes. Usually that is at night or on the weekends.

If you are doing a lot of listings you have a little bit more control of your time but then again open houses are on sundays.

Working with investors allows for some more freedom. My buyers are usually out of state so I am rarely out scouting properties with my buyers on sundays or late at night. Typically I am scouting out the properties on their behalf so I do have some more control over when I  am able to look at the properties.

Cameron Skinner · Answer

every successful real estate agent I know works 60-70 hours a week a lot of nights and weekends showing homes.  I also know plenty of unsuccessful agents who do it more as a hobby or just hope to get a few listings a year from family and friends.

David Hunter · Answer

Not as flexible as what everyone said it would be before you got into real estate.

Sure, there's some hings you an control, but... when a buyer wants to look at houses you better be ready to show them.

Can't go o a listing appointment when the seller wants... see ya.

Yeah, it's not always like that but the buyers and sellers control our time.

Guyoz Golan · Answer

I think you are spot on about it being like a small biz. Yet you do have the ability (and hopefully the passion) to grow and INVEST in properties with time, which could be done remotely as well.

Good Luck!

How flexible is a career in real estate?

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