You are thinking about obtaining your Utah real estate license? Real estate can be rewarding but also very challenging so understanding the pros and cons is important.
First, let’s discuss some of the challenges to being successful as a real estate agent. There are hard things that must be done to be successful.
- Time – It takes a lot of time to build a real estate career. It is not easy building a bank of contacts and customers to generate the number of home sales to generate an exception income. It is not a hobby. Start up your Utah real estate brokerage with managing your time and putting your full effort into building your practice.
- Hard Work – Successful real estate agents are constantly working. It is a full-time job building relationships with clients and satisfying their needs. When not selling, a successful agent is constantly building the contacts to get more referrals. You can do it by keeping good contact records and continually following up on leads.
- Time Not Your Own – You are sitting down with your family for dinner and one of your home buyers calls with an issue. You drop everything to go meet with him. You must be available any time if you want to do the number of closings you need to do.
- Expensive – Starting out you might only get a cut of the commissions you earn with the real estate agency. However, you still have the expenses to build your Utah real estate brokerage as well as support your family. As you become more successful, you will earn more and be able to handle the cost of your business better.
- Consuming – If you want to be that rock star Utah real estate agent, it is going to consume your life. Highly successful agents spend their waking hours contacting past customers and contacts to get referrals, building their network to generate new referrals and enhancing their working skills and education to make sales. It will consume your life to make that six-figure income. However, you pursued a real estate career to be successful so put the time and effort into it to be a super star.
There are many opportunities and rewards from obtaining your Utah real estate license and working your way up to be a broker. You can achieve these rewards.
- Own Boss- Even though you start out working for a broker in an agency, you are your own boss. No one to answer to but yourself. For the most part, you set your schedule and determine how you use your time.
- Self Employed – You determine how much you make. The more homes you sell the more commission you make. There are some Realtors® making six and seven figure incomes.
- Sky is Limit – You no longer are waiting for your boss to call you in and give you that raise that you deserved six months ago. You determine where you are going and how much you make.
- Out from Behind the Desk – You no longer must spend all day in that office behind a desk. You will have to be out and about – doing open houses, taking clients to view properties, building your network and researching new listings.
- Meeting People – You will be meeting new people every day. You will be building relationships with new customers. You will be meeting other agents, bankers, title company officers. You will be building a network of contacts who will become friends.
So, you still want to be a Utah real estate agent? Investigate, interview agents, evaluate your strengths and weaknesses. Know it won’t be easy, but you can be that rock star real estate agent if you are willing to do what it takes!!