11 Reasons Why You Should Become a Real Estate Agent in 2024
The Benefits of Pursuing a Real Estate Career in 2024
The Benefits of Pursuing a Real Estate Career in 2024
Jacqueline Kyo Thomas
The past few years have been a real rollercoaster. And it may have you thinking, “Should I become a real estate agent in 2024?”
The answer is a resounding yes, but with an asterisk. Because let’s be honest: Not everyone’s cut out for a career in real estate. Some people start off strong but fizzle out quickly once they realize that real estate isn’t a reality TV show. It’s good money, but it’s not easy money. It’s hard work.
If you’re thinking of starting a new career as a real estate agent, here are some reasons why you should do it (and a few reasons why you shouldn’t).
When you become a real estate agent, you’re your own boss. Not only that, but you also become a small business owner. You have complete control over how your business operates. Becoming a real estate agent gives you access to the American Dream, i.e. the freedom to pursue success and prosperity.
As a small business owner, you have:
But with freedom comes responsibility. You won't have a boss looking over your shoulder and telling you when to work and what to do. You'll need to be disciplined and hard working to succeed.
Your real estate business can grow beyond a five- or six-figure income and not just provide for you, but also provide for your employees. While you can’t hire other agents until you get a broker’s license, you can hire an assistant to help you as your business grows.
You can also become a broker after three years as an agent (learn how to become a broker here). As a broker, you can hire employees to work as real estate salespeople and then you can take a different position in your company where you’re less hands-on, and more focused on growth.
There are a lot of directions you can go with your real estate business.
Real estate prices have continued to soar in 2024, hitting all-time records in March:
"The median price of a single-family home in Greater Boston shot up in March to $900,000, according to figures released Tuesday by the Greater Boston Association of Realtors. That’s an increase of more than 9 percent over the same month last year and a new March record.
Condominium pricing doesn’t look much better for buyers. The median-priced condo in the association’s coverage area, which covers most of Greater Boston except for the North and South Shores, sold for $740,000, up nearly 9 percent from March 2023, when that figure was $680,000."
That said, high prices are a double edged sword. Prices are high because inventories are low: The past few years have been characterized by historically low housing inventories, which has made the housing market great for sellers but very difficult for buyers (just ask anyone who has been in the market to buy a house). But we may be finally turning a corner in 2024. According to Fast Company:
"Last month, there were 694,820 active U.S. homes for sale, according to Realtor.com. That’s up 24% from March 2023 (562,444 active listings)."
Not everyone wants or is able to attend college, and that's not a bad thing. College attendance shouldn't be the sole determinate of your future success.
Real estate agents don’t need to have a college degree. You need to be 18 years old, have a social security number, complete a course, pass a test, and meet a few other State mandated requirements.
Instead of going into debt that will take you years or even decades to climb out of, you can pursue a career in real estate for a fraction of the cost. Your education will be thorough but not all-consuming and give you what you need to satisfy the state's requirements for real estate salespeople.
The state of Massachusetts requires that, to become a licensed real estate agent, you must first take a 40-hour real estate course.
The good news is that these courses can be done at home.
Freedom Trail Realty School is the first board certified online real estate school for the state of Massachusetts. Our online courses are led by live instructors but can be streamed on demand so that you can take them at your convenience. While you can also take the course in person, we offer the online option if you need to complete the course on your own schedule.
You can take our real estate course on your desktop, phone, or tablet (without needing to download or install special software). There's never been an easier or more convenient way to become a licensed real estate agent.
Learn more about our online pre-licensing Massachusetts real estate course here.
And when it comes time to take the licensing test to actually get your license? Good news: You can take the license test online, too.
It’s hard to become an expert in a lot of careers, especially if you’re stuck in a corporate job. However, in real estate, you can become a respected authority. People will look to you for industry insight and you can give professional advice, not just to your clients, but also to media outlets who come to you with questions about real estate. You’ll be able to teach what you’ve learned and enjoy the respect that comes with it.
There’s no better feeling than helping someone accomplish a huge goal. By assisting your client in the purchase or sale of their home, you serve a huge and unforgettable role in this stage of their life. They’ll never forget it – or you.
Do you love all things home-related? Do you pop into open houses for fun? Do you enjoy watching HGTV? Real estate is a natural extension of that. When you become a real estate agent, you’ll spend a lot of your time in beautiful homes, especially if you’re in the luxury market. You’ll get a chance to tour different architectural styles on a regular basis and have the opportunity to turn your pastime into your paycheck.
Just watch out: Selling real estate is not like a reality TV show. It might be fun, but it's also hard work.
The most successful real estate agents are creative. You’re selling property, but the way that you sell it is what will determine your success.
This is why real estate demands creativity. You can be creative through how you:
If you want to be creative, you’ll have plenty of opportunities as a real estate salesperson.
Even after you graduate from real estate classes, you’ll continue to learn about the industry. In fact, you’ll never stop learning about real estate because there will always be new technologies, trends, and market data to discover. The most successful real estate agents are committed to continual self-improvement. If you love the idea of learning and constantly evolving into a better version of yourself, you’ll soar in real estate.
Do you like to solve problems?
For example, let’s say you’re working with a married couple who want completely different home styles. One loves the colonial style. The other says they must have a ranch. What will you do?
Does the idea of solving this problem energize you?
These are the types of dilemmas that real estate agents must overcome regularly. While discovering compromises may be maddening to some people, natural-born real estate agents love the challenge of solving complicated problems like these. If that sounds like you, you may have a successful future in real estate, and you should definitely give it a chance.
Not everyone has what it takes to be a real estate agent. If you don’t like people, if you don’t like homes, if you aren't disciplined, and if you don’t like hard work, you probably don’t need to pursue a career in real estate. Remember that real estate is not quick money and you’re unlikely to become a millionaire, especially in your first year as an agent. However, your earning potential is unlimited. Your hustle and hard work are the only cap.
It’s also important to note that you’ll need to financially support yourself as you build your real estate business. Your broker won’t help you (remember they’re not your boss, you are). In fact, you may need to pay them a desk fee, depending on your arrangement.
In addition to paying your personal bills, you’ll also need to pay for everything related to your business, such as:
Interested in Becoming a Real Estate Agent? What a great choice! If you meet all these requirements to become a Massachusetts real estate salesperson, you can start your pre-licensing course with Freedom Trail Realty School.
Learn more about our real estate pre-licensing course here. We'll see you in class (online)!