Are you thinking about helping people buy and sell their homes? Well, you’re in good company.
Real estate agents are one of the most important and well-rewarded jobs, and if you feel like you’re up for the challenge, then it’s a valuable opportunity to take.
Why Choose a Career as a Real Estate Agent?
Before becoming a real estate agent, you have to consider why it’s the best choice for you as a career.
Working as a real estate agent requires a great deal of variety, people skills, learning and education; you’ll constantly have to keep up to date with law changes, market trends and property rates.
It’s also a very competitive marketplace, as there are thousands of realtors battling each other for more clients, more sales and more profits. It can be competitive to get your name out there and has been deemed “cutthroat” in some cases.
On the plus side, you’ll work with different clients every day, or if you choose to, focus on a particular field, such as luxury homes or condos. You get to be your own boss (even if you work for a realty) and enjoy the satisfaction of helping others sell or purchase a property, one of life’s major milestones. And yes, of course, the money is great too.
Considering that you get a specific percentage of the selling price, you can make quite a bit of money, depending on how good you are at closing deals and handling people. You can make as little as $50,000 a year to over $100,0000.
One last point: becoming a real estate agent is easier than you think. Compared to other careers, you’ll be selling houses in no time.
Here’s how you can do it.
Three Steps to Becoming a Real Estate Agent
Step 1 – Understand Your Province’s Requirements
Every province has its own rules and regulations when it comes to real estate. That means you’ll have to find the requirements to qualify before you can continue with your path.
For example, to practice real estate in Alberta, you will need a licence from the RECA (Real Estate Council of Alberta) depending on the area of your choice, such as property management, residential, commercial or rural.
Each province typically has specific requirements for:
- Level of education (such as a high school graduate or college)
- The ability to speak English and French well
- Pre-licensing courses and post-licensing requirements
- Exams and exam eligibility
- Background checks, criminal history and other significant issues
- Application process and fees
Step 2 – Take a Course & Pass Your Real Estate Licence
First things first: it is mandatory to have a licence to practice real estate in your province. Not anyone can sell their homes and be done with it. There are processes in place, laws that must be abided by, and rules that ensure both the buyer and seller are safe from any predatory people. That’s why having a licence is crucial.
Therefore, you’ll have to take a pre-licensing course from an accredited real estate licensing school before you sit for the real estate license exam. At the course, you’ll get an understanding of the real estate process and market while practicing approaches to sales and deals.
The exam is an entirely different matter altogether. It all depends on what the province requires, so you could find yourself doing two little tests (for example, a general real estate principles and practices section and a province-specific section), or you might have to focus on a particular field of interest such as residential or commercial.
You’ll have to pass the test, or tests, to obtain your licence.
Step 3- Kickstart Your Career
Now, it’s time to turn that education into experience.
There are two ways to do this: you either work independently or your work for a realty. Let’s take a look at both of them in more detail:
In this situation, you’ll have to do all the work yourself. You have to set up your own business, promote yourself and get your name out there. From there, you’ll have to build up connections, establish your client list and keep things rolling. Basically, you’re your own boss.
You’ll also have other ongoing expenses, such as renewing your license each year, continuing education, and multiple-listing services memberships, that will cost you yearly.
This career route is much harder if you don’t have the experience or insider information to compete.
Being part of a realty means that you’ll work under an umbrella of a manager, have your own desk and work as a team. You’ll still most likely have to pay for your marketing materials and have to build up your client list, but you’ll be doing it as part of a team.
However, the perks include having a chance to work with clients immediately, having a supportive base that can help you grow, and best of all, being able to learn from experts, which will prove helpful as time goes on.
From One to the Other…
In many cases, most real estate agents start working with a realty before making their own way. That’s usually the smarter way of getting the best of both worlds.
You gain the experience and knowledge working with a realty, build up your connections to insiders in the industry, learn the skills and the inside track before transferring yourself over and doing the job yourself. It’s the trajectory that many real estate agents (https://emilyjonesrealestate.ca/) take over the years, and in most cases, it pays off for them.
The Key Takeaways
A career as a real estate agent can be rewarding, professionally, socially and financially. You have to remember the key pointers of being one:
- You’ll need a licence to operate within your province or territory.
- It can be a super competitive industry. Experience and insider information can prove useful as you begin.
- You’re the boss, so you can decide when you want to work and how.
- You can make a lot of money if you’re good at it. Focus on a particular market or area to help grow your name and reputation.
- It can be costly to maintain, as you’ll have to pay for licence fees, multiple-listing services and continual education.
- The rewards, as we said, are high.