The Top Reasons You Should Become a Realtor
About 3 million people hold an active real estate agent license in the United States as of 2021. About a decade or so ago, there were only about 1 million licensed real estate agents.
This tells us that the number of people becoming real estate agents is increasing. If you’re planning to join this profession, it’s clear you’ll be joining a growing profession. Although the employment of real estate agents and brokers will only increase about 4 percent (slower than average) every year through the next decade, you have every reason to become a realtor.
Interested in knowing the various reasons you should pursue this career? Keep reading.
Real Estate Agent vs Realtor: What’s the Difference?
If you were keen, you’ve probably noticed the switch from real estate agent to realtor in the introduction. Now that you’re wondering whether the two titles can be used interchangeably, it’s only fair that we clear up the differences.
A real estate agent and a realtor can be the same person. This is because all realtors are real estate agents. However, not all real estate agents are realtors.
A realtor is a real estate agent who is a member of the National Association of Realtors. That’s the primary difference.
For the purpose of this article, we’ll flesh the major reasons to become a real estate agent, and also why you will want to get NAR membership and become a realtor.
Help People Achieve the American Dream of Homeownership
Let’s get sentimental for a while.
Do you believe in the American Dream? If you’re anything like most people, you do. Homeownership is one of the cornerstones of the American Dream.
Becoming a real estate agent is a good opportunity for you to help people achieve this dream. Every so often, you’ll find clients who’re looking to become homeowners for the first time. The home buying experience is exciting but can also be challenging, which is why most people will hire a real estate agent.
The satisfaction you’ll achieve from helping people find their dream homes is unparalleled. So, if you love helping people and deeply believe in the American Dream, you’ll enjoy being a real estate agent.
Real Estate Agents Have a Good Salary
Of course, you want a job that pays — and pays well. You won’t be disappointed if you become a real estate agent. According to the Bureau of Labor Statistics, the mean annual wage for real estate agents is $62,000. To put that in context, the average American wage is about $52,000.
This means you’ll be earning above the average national wage, which isn’t something most professionals can brag about!
What’s more, you have the potential to earn a lot more depending on your competence. On top of a fixed wage, real estate agents who’re formally employed will receive a percentage of the commission the real estate agency earns after every closed deal. So, if you become a top-performing agent, you could earn six figures or more!
You Don’t Need a Bachelor’s Degree
Here’s the real zinger. You don’t need a bachelor’s degree to become a real estate agent.
You just need to complete a real estate agent pre-license course, which can take you anywhere from four to six months to complete. If you meet the requirements of the course, you’ll be eligible for licensure in your state.
Pursuing a career that doesn’t need you to have a bachelor’s degree is a smart move. You not only have the chance to become a licensed pro about one year after finishing high school, but you also get to avoid student debt. These days, a bachelor’s degree student graduates with a degree and about $30,000 in student debt.
That being said, you can still pursue a bachelor’s degree if you want. Real estate agent licensing bodies typically exclude candidates who have a bachelor’s degree from completing a pre-licensing program. And as the field gets more competitive employers are starting to give preference to licensed real estate agents who have a bachelor’s degree.
You Can Start Your Own Business
Some professionals don’t give you ample opportunity to start your own business. Picture nurses, for instance. These professionals typically have to pursue employment for the rest of their working lives. Yes, some go on to start nursing homes and home health agencies, but those are the exception, not the norm.
As a real estate agent, you can start your own real estate agency any time you’d like, as long as you have an active license. In fact, you start an agency as soon you earn your license.
Running a real estate business, be it an agency or a brokerage, or even a property management firm, enables you to become your own boss. Unlike when you’re employed, there isn’t an earning limit when you have your own agency. The more clients you attract, the more money you’ll make.
And with the advancement in technology, running a successful real estate agency is easier than ever. With a property digital marketing strategy, you can easily drive lots of targeted traffic to your real estate listing pages.
You Can Become a Realtor Quickly
Becoming a realtor is a great way to improve your credibility as a real estate agent and thus your chances of being successful. Most clients will hire a realtor instead of a mere real estate agent.
The good news? Becoming a realtor is easy. You just need to secure membership in a local association of realtors!
Start Your Real Estate Career Today!
If you weren’t sure whether to become a realtor or pursue another career, we hope these reasons are enough to make you an informed decision. In essence, though, pursuing a career as a real estate agent or realtor is a smart move with big rewards.
Keep tabs on our blog for more career tips.