Becoming a real estate salesperson requires a giant leap of faith and an investment of time and money. That’s why some agents may choose to test the waters with a part-time real estate position while hanging onto the steady income from another job. Industry veterans may also find that working as a Real Estate Professional provides an alternate transition to retirement or a way to balance work and family life.
Whether you’re looking into real estate career opportunities (btw, we’re hiring!) for a second job or brand new career, there are plenty of challenges to overcome on this nontraditional path. Despite your chosen work schedule, you’ll have to juggle clients who generally want their agents to be available around the clock.
Security and stability is one of the initial sacrifices you make when entering a real estate sales career. Needless to say, you’ll have to make some sacrifices to earn a real estate agent salary or commission.
To start, you may have to give up some time off and vacations, especially if you’re the sole breadwinner in the family or don’t have supplemental income to support you while you learn the ropes or build your real estate business. You’ll also have to put up with the naysayers in the business who claim you can’t be an effective salesperson because of the competition in the industry.
Here are her eight tips for effective career in Philippine Real Estate:
If you work as a Real Estate professional, you need to focus on generating business or going to appointments. Your time and presence make money; paperwork is just supplemental and you’re lucky if you have a team who can do it for you.
Working with an established team and administrative assistant is crucial to a new real estate agent’s success. If you are unavailable, your team member can make the appointment..
For those who don’t want to “hit the pavement,” Earthauz Brokers recommend another method for being a part-time agent. “Create a referral network. Refer buyers and sellers out to other agents locally and across the country. You can ask for a 25 to 30 percent or more referral fee when the property closes. You really can control your time and costs with referrals.”
Agents or Salespersons generally work on commission, although inhouse may earn a salary plus commission. It may take years to earn any money so brokers recommend that agents be able to cover at least a year’s worth of living expenses before starting a real estate career. The costs to get a license and other fees could be about $2,000 the first year.
Determining how much you’ll make as a real estate agent is a big part of deciding whether the salary is right for you or if there’s a different real estate career path you could pursue. A Real Estate salesperson can earn an average base salary of PHP180,000 to PHP300,000 annually, that’s without commission yet. The salary eventually increases as more sales are closed, a PRC license is obtained, and more real estate knowledge is acquired.
Part-time is not the norm, but having a second career as an agent is common. Among Earthauz members surveyed, only 4 percent reported that real estate was their first career; 16 percent had a previous career in management, business, finance, sales or retail.
One is never too late to start a career in real estate. Earthauz Sales Trainer Miguel Imperial mentioned that real estate sales always provides an opportunity to whomever decides to venture in to it, noting that one of the new agents he trained was already 65years old. He believes agents are more successful coming into the field with strong business and sales skills. Exploring real estate as a second career provides endless learnings and opportunities, he says.
If you are thinking of shifting to a second career in Real Estate, join Earthauz team! You will be trained by Real Estate experts from leading developers and be able to work in a flexible environment.
Earthauz Broker shares that the exciting part of starting a Real Estate career is often witnessed at the start of the year, when your goal is to earn more than what you earn the previous year. It’s exciting, challenging and scary at the same time. There’s no assurance of what the outcome will be unlike working in a corporate world wherein you are assured of your annual income and bonuses. But what keeps us going is the mindset that someday we’ll be able to live the life we wish for, financial freedom, to live comfortably and to spend more time with our family.
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