Real Estate Agent (Finance industry): A promising career for recent graduates
If you are a recent graduate exploring new career options and interested in the finance industry, then becoming a real estate agent could be a promising choice for you. A real estate agent’s primary role is to help clients buy, sell or rent properties. However, they do much more than that – from advising clients on the best pricing strategy to negotiating deals on their behalf. The finance industry offers numerous opportunities to build a lucrative and satisfying career, and real estate is one of the fastest-growing sectors.
Career Values, Traits, Skills
To become a successful real estate agent, you need to have a strong work ethic, excellent communication and interpersonal skills, and the ability to handle high-pressure situations. You should also be comfortable with technology and social media since digital marketing has become an essential part of reaching out to potential clients. Real estate agents must have a willingness to learn continuously, be creative and have the ability to build trust and work collaboratively, increasing client’s confidence in their abilities and increasing customer lifetime value.
Career Path
A career in real estate starts with obtaining your real estate license. The requirements for the license vary by state, but most states require you to be at least 18 years old with no criminal history. You will also need to complete a certain number of hours of real estate courses and pass a licensing exam. Once you become a licensed real estate agent, you can either work independently or join a real estate brokerage firm. The latter is the best choice for beginners as it provides support, resources, and networking opportunities. However, experienced agents often decide to become independent to have greater control over their schedules and earnings.
Salary Range
Real estate agents earn their income primarily from commissions based on the properties they sell or rent. The job is performance-based, and the more successful deals you close, the higher your earnings will be. According to the Bureau of Labor Statistics, the median annual salary for real estate agents in the United States in 2020 was $51,220. However, this can vary significantly based on your location and the market conditions.
Tips for Success
To build a thriving career in real estate, keep the following tips in mind:
- Work hard and stay committed: Real estate agents often work long hours and weekends, and you must be willing to put in the necessary effort to succeed.
- Network: Develop relationships and network with other real estate professionals and clients.
- Utilize Technology: Utilize technology and social media to increase your reach and make your job easier.
- Understand your Market: Stay up-to-date on market trends and changes in the real estate industry.
- Set realistic goals: Set appropriate sales goals and plan accordingly. Break down long-term goals into achievable action plans.
- Offer excellent customer service: Happy customers are the key to success in the real estate industry. Focus on providing top-notch service to ensure repeat business and referrals.
References
- Bureau of Labor Statistics (2020). Real Estate Brokers and Sales Agents. Retrieved from https://www.bls.gov/ooh/ Sales/Real-estate-brokers-and-sales-agents.htm
