A career in real estate can provide great returns, but there can also be numerous challenges that you can face. Like other professions, the real estate profession has its advantages and disadvantages. Let’s talk about the top 5 pros and cons of being a realtor in 2021.
Top Five Cons.
Insecurity with this job is number one on the list because you never know when you’re going to get your next business. Who’s going to be the next client? Where are you going to find your next client that is looking to buy or sell a property so you can help and service their needs. It’s quite insecure. It’s hard to keep consistency throughout the full year and get a consistent paycheque to achieve a consistent income. So, in my opinion, insecurity is number one on the list.
Judgment and stigma with being a realtor are up on the list as well because people tend to think of us as a sleazy salesperson. They tend to compare us to the used car salesman stereotype. Even when we hang out with friends and go to events, people are afraid we’re going to sell them properties and they feel uncomfortable.
And, at times, we might get avoided at parties, and even with family and friends. People think we’re always going to try and sell them on it. So the judgement that comes with the job is also a big con about being a realtor.
To be self-accountable is not an easy task. I mean, you don’t have a boss so when you wake up in the morning you could just sleep in if you wanted to. You don’t have to do anything regarding your job. However, if you don’t, it’s really going to show on your income. You don’t have anyone checking in on you to make sure you’ve done the work that you said you were going to do. Learning self-accountability is a really tricky part to navigate.
It’s an unstable job and unstable industry due to the many events that can happen which are out of our control. For example, this year, we had the pandemic. At the beginning of the year, we had everything written out. We had our sales goals, targets, and numbers planned out. We also discussed the events we wanted to attend. When the pandemic hit, and everything shut down, we switched very fast into the virtual world. That’s why it’s really hard. It’s unstable and unpredictable. It’s really a tough place to be.
300 WESTMOUNT Road E, Kitchener, N2M4Z1
300 WESTMOUNT Road, Kitchener, Ontario N2M4Z1More
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80 Bayberry Court, Whitby, Ontario L1M2L1More
#802 -3227 KING ST E, Kitchener, N2A3Z9
3227 King Street, Kitchener, Ontario N2A3Z9More
317 ROSSLAND RD W, Whitby, L1N3H8
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63 Pandora, Kitchener, Ontario N2H3C1More
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It’s expensive to be a realtor. You really have to market yourself and stay top of mind. You have to market the properties at the higher end level, like the best you can ever do, and spend the best amount to get top results. It can get very expensive to market yourself and your products, for sure.
So those are the top five cons of being a realtor. Insecurity, Judgement, Self-Accountability, Unstable, and Expensive.
The Top Five Pros.
Now, let’s talk about the exciting part and the reasons I’m a realtor. The top 5 pros of being a realtor.
You Are Your Own Boss
That’s very exciting for a lot of people who are like me. You can run your own schedule, plan your own events, make your own appointments, track your client’s follow-ups, manage your sales meetings, choose your coaching sessions, master your practicing sessions, create your marketing schedule, and learn from marketing courses. You can do all of this in your own, personal, unique way. So that’s very exciting (did I say that already?).
Unlimited potential in a way where you could work 16 hours a day, or even 20 hours a day if you wanted to. You could sell hundreds and hundreds of homes. You could expand to build a big team and sell thousands of homes.
Or, you could just keep it simple and work as an individual agent and sell a few homes each year. It really depends on what you want to do, how active you want to be with it, and what your personal ambitions really are. Unlimited potential can mean many things and is really versatile.
Get to Meet Cool People
You get to meet people from all kinds of backgrounds, different cultures, and different countries. You meet them in all sorts of different ways. You get to have so many interesting conversations and learn about all of the interesting ideas that they have.
You really become great friends with these people and build beautiful relationships, and then stay in touch over time with these wonderful new friends. So that’s why I really love this job. You get to meet really awesome people that become friends for a long time.
Allows You to be Creative
This job allows you to be very creative. It lets your creativity flow. You can really use your creativity when marketing a property through pictures and videos. During open houses, or virtual open houses now, you can really be yourself and expose your creative side. You can also be as creative as you wish when it comes to advertising yourself and finding new business.
Since you are your own boss, you are also in charge of your own marketing. This help you attract clients who are similar to you and have similar taste, which makes it easy to get along and work together. That’s very exciting for you and for your clients.
This job also allows you to study on your own. You get to work on yourself and study different subjects regarding real estate sales, which include marketing, negotiating and sales. And of course, now digital marketing is very important.
We attend these seminars, we attend coaching sessions and coaching calls, and we practice with other top producers throughout the country and the United States. We really grow as individuals by having that in our schedule and set aside as a focus area to be developed.
These were the top five pros and top five cons of being a realtor in 2021. Thanks for reading!