The world of real estate is a constantly changing one. After all, people have always needed homes, and the world around us moves fast. Everything from the area a property resides to the way in which it has been decorated needs to be taken into account during a home viewing or appraisal.
And while the industry continues to grow and adapt over time, some unflattering myths and misconceptions about working in this sector seem to remain.
Unfortunately, like in many other industries, all it takes is one poor experience to tarnish everyone with the same brush. And while real estate businesses such as Compass work tirelessly to empower people who are looking to sell or buy their homes, there are still many misconceptions about what working in real estate may entail.
Below are the most common myths that you’ll hear about working in real estate.
In this article:
- Myth: Real estate agents aren’t needed or can’t be trusted to sell your home
- Myth: All that matters is finding an agent who offers the highest value of a home
- Myth: All real estate agents are the same
- Myth: Real estate agents only care about the commission or sale
- What do real estate agents struggle with the most?
- What hours do most real estate agents work?
- Is being a real estate agent worth it?
Myth: Real estate agents aren’t needed or can’t be trusted to sell your home
Selling or buying a property is an extremely complicated process. Many people have sold a home without the services of a qualified agent and found themselves missing a key component of the process, with potentially disastrous results.
Careers in real estate are built upon a strict code of ethics. Those ethics include providing the client with the best possible solution and complete clarity on all matters related to their home. In other words, you will be very much needed!
Myth: All that matters is finding an agent who offers the highest value of a home
It’s important for reputable real estate agents to speak the truth and set realistic expectations when it comes to getting a house sold. A client may even claim that an evaluation is far too low and that another agency has quoted a higher price on their evaluation.
It’s important to remember that a property rarely sells for the exact valued price. It’s the duty of an agent to remain clear and honest with their clients, despite the potential lure from other agencies.
Myth: All real estate agents are the same
Far from it. In fact, this may be one of the most important myths to debunk. People should be very careful about simply choosing the first agency they find, and must pay close attention to each organization’s personal philosophy. Within an agency, agents will have a wealth of different positive attributes and varying personalities – there really is no blanket rule.
One of the most rewarding aspects of the real estate business is the satisfaction that comes with helping people to find their perfect home. Keeping that excitement in mind is what separates you from a sea of other agents.
Myth: Real estate agents only care about the commission or sale
Careers in real estate don’t last long if they don’t receive good feedback from previous clients. In this industry, reputation is everything, and commission percentages range depending on the specifics of a home purchase or sale. It’s a common misconception that agents cash large cheques in a matter of minutes. However, that can only come with passion, hard work, and building a solid reputation in the business
What do real estate agents struggle with the most?
The answer may surprise you.
While real estate agents are often thought of as go-getters and natural salespeople, the truth is that even they have their struggles. Just like anyone else in any other profession, real estate agents can find themselves bogged down by the day-to-day grind, struggling to maintain motivation, or feeling burnt out by the constant hustle.
But what exactly are the struggles that real estate agents face? We asked a few experts to weigh in and share the biggest challenges they see agents facing today.
1. Time Management Issues
One of the most common struggles that real estate agents face is time management. With so many balls in the air at any given time, it can be tough to keep everything straight and make sure that each task gets the attention it deserves.
2. Difficulty Generating Leads
Another big struggle for real estate agents is generating leads. In a world where there is more competition than ever before, it can be tough to stand out and get people to notice you.
3. Pressure to Perform
There is a lot of pressure that comes with being a real estate agent. Not only do you have to deal with the pressure of meeting your clients’ expectations, but you also have to worry about making enough sales to support yourself and your family.
4. Keeping Up With Technology
Technology is changing the real estate industry at a rapid pace, and it can be tough for agents to keep up. From new ways to market your listings to different methods of searching for properties, there is always something new to learn.
5. Working Long Hours
Real estate is a demanding profession, and agents often find themselves working long hours in order to get the job done. From open houses on the weekends to late nights spent working on paperwork, it can be tough to maintain a healthy work/life balance.
What hours do most real estate agents work?
The answer to this question may surprise you. While it is true that most real estate agents work long hours, the majority of them do not work traditional nine-to-five jobs. In fact, many real estate agents work irregular hours in order to accommodate their clients’ schedules.
This can be a great perk for those who are looking for a flexible job, but it can also be a bit of a downside for those who prefer a more traditional work schedule.
Overall, the hours that real estate agents work are varied and depend on many factors, such as the type of property they are selling and the location of the properties. However, most real estate agents work an average of 40 hours per week.
While this may seem like a lot, it is important to remember that real estate agents are often working on multiple properties at once and need to be available to show houses to potential buyers at all hours of the day. Nevertheless, 40 hours is still considered a full-time work week, and most real estate agents do not work more than that.
So, if you’re considering a career in real estate, rest assured knowing that you won’t have to give up your entire life to succeed. With a little bit of flexibility, you can have a successful career while still maintaining a healthy work-life balance.
Is being a real estate agent worth it?
This is a question that many people ask when they are considering a career in real estate. The answer is that it depends on a number of factors.
One factor to consider is the amount of money you can make as a real estate agent. While there is no guarantee that you will become a millionaire by becoming a real estate agent, it is possible to make a good living in this profession. The median annual income for real estate agents was $45,990 in 2017, according to the U.S. Bureau of Labor Statistics.
Another factor to consider is the amount of time and effort you are willing to put into your career. Becoming a successful real estate agent takes hard work and dedication. You will need to be able to work long hours, often on evenings and weekends.
You will also need to be comfortable working with a variety of people, as you will be dealing with buyers, sellers, landlords, and tenants.
If you are looking for a career that offers the potential for high earnings and the opportunity to help people buy and sell property, then a career in real estate may be worth considering.