Myths About becoming a real estate agent - the things that aren't talked about enough

A life in real estate has this reputation of a posh lifestyle full of luxury and seamless conversations in order to get the deals you need for your clients while wearing a pantsuit. 

Wait a minute, are we watching a movie?….

Let’s snap back to reality.

While you can make it what you want, the reality is, it’s not sunshine and rainbows all of the time, like any other job!

We’ve heard story upon story of Agent’s walking into smelly houses, doing some TLC work for their sellers, dealing with difficult lenders, strategizing a sale that’s been sitting on the market for a while, and the list could go on!

The best thing you can be as a new agent is prepared for what might be thrown your way! One way to be prepared, recognize the myths that are so quickly spread!

So keep on reading to get a realist’s perspective on the myths that are thrown out there…

"Making money is real estate is easy"

Maybe you’re getting into real estate with a couple of friends who already told you they need to buy – so you’re planning to be off and running with clients from the start. 

But, in general, as with any sales job, it takes a bit of time to build your customer base, and many times it takes persistence and creativity in order to reach the people you want to work with. Most of all, it takes patience. It could take a few months or even a year or more to close on your first sale. But that’s totally normal as a new Agent!

To be direct;  It is highly unlikely that a new agent will have a sale in their first two months because they are finding people who are looking to make a move, building trust with their friends and family in this new role, showing houses, and praying that their buyers can compete with the multiple offers happening at this moment. 

A career in real estate is more than graduating high school or college and heading straight to the closing table, though that would be nice! 

"Real estate is a great side gig with little to no up front cost"

If you’re pursuing real estate as a side job or part-time gig, go for it – there are plenty of Realtors that do this! But, be prepared for the costs you’ll have to cover, even if you don’t have a single sale in the year. 

Up front, be prepared to start with a savings that’s around $7,200 to pay for things like real estate classes, the real estate exam, joining the board of realtors, gas, signs, and more.

Yearly, the costs you’ll have to plan for are things like realtor dues, CE classes, marketing materials, gas, etc. which can amount to around $1,500 or more when it’s all said and done.

"You have to wear a suit or a blazer to fit the role"

We have a whole blog post talking about what real estate Agents should wear (view it here!). It can vary by brokerage and company culture, but for the most part, you should wear what you’re comfortable in!

Your clients will feel most comfortable with you when you’re dressing and acting like your authentic self! This could mean Jeans and a t-shirt, a skirt, dress pants and blouse, etc!

Just be you!

"A career in real estate is perfect for needing a flexible schedule"

Your job as an Agent is to put your clients first. This might mean putting their schedule first – most or all of the time! It oftentimes means working on weekends and in the evening to accommodate their schedules. To be blunt, if you’re getting into real estate just for the flexible schedule, you might want to reconsider. 

Agents also spend a lot of time behind the scenes coordinating deals with the lenders, other agents, etc. A transaction is far more than just showing houses a couple of times and shooting confetti cannons at closing!

While it can’t be flexible all of the time, it does ebb and flow depending on what your business looks like, which can be a perk!

"Real estate is only about the transaction"

Let’s talk about what we like to call “quicksand clients” for a minute…

A “quicksand client” is the person who ropes you into all of their drama, both having to do with their transaction and NOT having to do with their transaction (and a lot of times, those two things cross over). They are looking for your empathy and sometimes by giving it, us as Agents can get caught up in the drama rather than some of the things that matter more in the midst of the transaction (like being an unwavering support base!)

When working with a quicksand client, it’s important to take a step back when needed to reground yourself and remind yourself of your purpose as their Agent. Sometimes this means reaching out to a career mentor, colleague, or your broker to talk through what the best course of action is! Other times, this means unplugging for an evening to rest and focus on something else, so that you can come back to the sale with a fresh mind. 

You carry a lot of emotional weight on your back as an Agent. People are making moves in life’s most emotional seasons – weddings, babies, divorces, downsizing, factors associated with cost of living, and so much more. 

"It's impossible to be a real estate agent"

If after reading this you’re thinking, well, everything I thought about a career in real estate is not exactly how it seems anymore, don’t worry! We’re here to encourage you that it’s a career that is doable and WILDLY rewarding. Especially when you have a great support base and accountability (which we like to pride ourselves on at The Local Element!) 

We’d love for you to join us – whether that’s for a meeting to check us out, to start out as a new Agent, or to transfer to an Agent-focused brokerage!

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