Being a real estate agent is the dream career of many young professionals. You get a respected job title, flexible hours for working, and some big payouts. There are many other reasons beginners want to be a real estate agent in montreal. However, you may need to go through several struggles to achieve success. It may take even months without getting paid. So, before you start a career, you should study and understand the positives and negatives of the sector.
In this article, we are going to cover the pros and cons of being a real estate agent.
Pros of being an agent
Flexibility in schedule
Real estate agents are their own bosses. There is no time binding for them. You can work on a flexible schedule as you want. It allows you to spend time with family, taking care of children, and managing personal tasks. These facilities have made the profession very attractive.
A real estate agent affiliate with a company like Royal LePage earns about 25 percent more than other professions on average. Since they have no fixed salary, it means no limitation of earning. Though the earning scale depends on your skill, you get unlimited income opportunities as an agent.
Be an expert
This profession will impact your personal life positively because of particular knowledge. When people need to buy or sell property, you are the person they badly need.
A real estate agent is a position of high-level responsibility. You are dealing with bigger things, managing huge transactions which is challenging and requires leadership skill. Employees from other sectors are not assigned such responsibilities even after working for years.
It is a dream job because you are making people’s dreams true. You are even included in the memorable event of clients which is a big achievement.
Cons of being an agent
Uncertainty in income
There is no confirmation that you can close each deal. Even, a deal can be canceled at the last minute unexpectedly. This can be frustrating for new real estate agents since they are not paid until a successful sale.
Complication to have the license
Having a real estate agent license is a very complex procedure. You need to attend and successfully complete a 6 months educational program and take and successfully pass the OACIQ certification exam as well. It may cost about 5000 to 9000 canadian dollar to become a licensed real estate agent. Moreover, you must have complete knowledge of real estate and relevant local laws.
Need extra saving
You have to face the same risk as starting a new business while starting a career as a real estate agent. In most cases, it takes about three to six months to make the first property sale. Experienced agents recommend keeping some savings for at least one year since the career is not like a traditional job.
Working for extra hours
Time flexibility does not mean working less. A real estate agent works about 50 hours per week where regular employees do standard 40 hours in Canada. Sometimes, real estate agents may need to do additional work outside of their schedule.