As they say, “There is no such thing as an Easy Job.” Well, this statement is true because people who succeed in their careers have been through many obstacles and challenges to get where they are now.
When you think about becoming real estate agent in Florida or some other states, the first thing that comes to mind is – ‘That’s a lot of money!’
Well, think again.
Haven’t you known the challenges most real estate agents encounter and the difficulty as they struggle to find common ground in dealing with the price with another party?
Their emotions are high, and they show intense stress behind every negotiation. Of course, this is part of the job, but the real challenges are not the ones you see on TV.
In this article, you will learn the challenges most real estate agents encounter in their careers. This will be an eye-opener for those who plan to pursue a real estate career.
Why Do People Think Real Estate is Easy?
When you ask people if they think real estate is such a hard job, you will likely get mixed answers. Perhaps many people think that real estate usually involves opening doors and always getting a deal. However, this is not always the case.
Most people form opinions based on what they see and hear from success stories. However, there’s so much more to a career than meets the eye. If you are in real estate, you’ll find that even opening doors and negotiating contracts would barely take up most of your time. The real job usually goes deeper, and you need to learn skills you think are no longer necessary to succeed in this industry.
Additionally, staying informed about the real estate market is crucial. Websites like exprealty.com/us/fl/ can be valuable resources for real estate professionals. They provide up-to-date information on listings, market trends, and insights specific to Florida. By keeping yourself knowledgeable about the local market, you can better serve your clients and make informed decisions.
Common Challenges Real Estate Agents Encounter
If you are new to real estate, you must prepare for these challenges.
- Not having Listings
How would you feel if you shopped at a store or websites online and only had 3-4 options to choose from? Perhaps you will feel disappointed. When a buyer comes and looks for a house, they would expect to receive a lot of options to find a property that meets their criteria. The same goes for real estate agents.
So, when a realtor runs low on inventory, it could negatively impact the company. That is why, as real estate agents, you should make sure there are enough listings on the website, as this may affect the growth of your commercial real estate industry.
- You are Paid on a Commission Basis
Among the toughest parts of being a real estate agent is to realize that you only get paid whenever you make a sale. The commissions may be high, but it usually takes months to make a sale, and you don’t always keep your commission. Always remember that the sky is always the limit once you establish your business.
For a while, you must let go of that guaranteed paycheck every month. But don’t fret, though. Instead, you must be prepared and support yourself financially when you are just starting in real estate.
- Always Prepare for Rejections
Rejection is heavy work. You must prepare to always get a “NO” answer. You just need to keep on pushing on. Of course, real estate agents don’t like rejection. They always desire to be accepted. But in real estate, rejections likely happen every day.
If this challenge is not happening to you, then you’re probably not seeking enough. You have to get used to the words “No” and “Not interested” and consider this a challenge to strive harder.
- It Takes Years to See Results
It is rare to get fast results in real estate. If it does not usually happen that you sell ten properties in your first year, and even if it does, it doesn’t always guarantee that you will improve in your second year.
You must be prepared for three consistent years before seeing real results. And take note, and this is not just three years of going through emotions. It’s three years of hard work, perseverance, and getting out of your comfort zone.
- Hard to Manage your Time
Many say that real estate agents work in their own time and pace. While this is true, the freedom of the real estate job also means that it would be challenging to build your schedule. Many real estate agents find it hard to decide how they will spend their time when they are just starting their careers. Especially if you work as a solo agent, you will not see how real estate agents spend most of their time.
- Market Could Change
The real estate market is constantly evolving. Most agents fear that the market could crash, just like what happened in 2008 the housing crash. There’s no way anyone can predict the market, which could make the career risky. But then again, there is not much to fear.
There are a lot of challenges you will face as a real estate agent. However, you just have to remember that these challenges always have solutions. It may take time, but eventually, you will get there. You just need long hours of hard work and delayed gratification for years to see the results of your efforts as a real estate agent.