It can be tough to find a career that you love and pays well at the same time. You usually must sacrifice one thing to get the other. But did you know that there are career options that you will learn to love while earning a substantial amount of money?
This is what being a real estate broker in the Philippines promises to people looking for a worthwhile profession. The benefits a real estate agent can get are perks that professionals from other industries would be clamoring to experience at least once.
If you’re still on the fence about whether you should make the jump, this piece should be able to help you go for it. We’ll present you with seven reasons that will have you wondering about how to become a real estate agent as soon as possible.
What is a Real Estate Agent?
Real estate agents are professionals that specialize in facilitating the sale of properties between sellers and owners. They are licensed by the Professional Regulation Commission (PRC) and are usually affiliated with a real estate broker who handles the more technically demanding parts of the transaction. As an agent, you’ll be compensated through commissions from the transactions you close.
It’s easy to think that real estate agents only show up when you need to complete a purchase or sale of your home, but they do a lot more than that. They keep up with local real estate activity and industry news, sort real estate documentation, develop marketing plans for their listings, plan and coordinate events to help sell your property, and respond to inquiries about the properties they sell.
Real estate agents either work in commercial or residential properties. Their work also changes depending on their client: an agent working for a seller will do vastly different things compared to an agent hired by a buyer.
7 Reasons Why You Should Be a Real Estate Agent
Some think real estate agents do not lead the most exciting lives. However, it’s one of the most worthwhile jobs you can have. The following reasons will convince you that pursuing such a career is worth it.
1. You get to be your own boss
Most jobs have a set hierarchy where your success is defined by how well your superiors assess your performance or otherwise. Being a real estate agent is one of the few instances where such a roadblock to success is not true.
As a real estate agent, you’ll be working alongside brokers. However, you’ll have a large degree of independence to decide how much work you’re going to do. Apart from that, you’ll get to set your own time for work and establish the goals you want to achieve in your career. Only a couple of career options can offer the same level of independence.
2. Your earning potential is limitless
Depending on their arrangement, a broker may pay a stipend to their agents. While these earnings are nice, the commissions you’ll get from the sales of properties can make for an incredible earning potential.
For example, if your real estate broker’s commission rate is at 1.75%, you’ll earn an impressive PHP70,000 commission if you sell a property that’s worth PHP 4 million.
Since commission rates change from one broker to another, you must aim to increase your commission by closing more sales.
3. It has a low barrier to entry
Lucrative careers like lawyers and doctors require years of education and expertise to see a return on your investment. With the amount of money that comes and goes in real estate, it’s also easy to think that you need to spend a boatload of money to get into the industry.
However, that’s far from the case. You don’t even need a college degree to become a qualified real estate agent. You learn everything you need on the job alongside industry veterans who are more than willing to help.
While you do need to undergo a Continuing Professional Development (CPD) process and get a license from the PRC, trusted companies like RE/MAX Gold are more than happy to help you throughout the licensure process.
4. It’s a meritocracy
Becoming an accomplished real estate agent doesn’t require you to serve years of service or conform to the standards of a senior team member. Sales are the only thing that matters in this industry, and your ability to close deals will determine how quickly you rise the ranks and how much money you earn.
The job itself provides you with opportunities to learn and grow. The things you learn from your job will make you a better real estate agent, which in turn will turn you into a trusted realtor.
5. There’s flexibility and variety
First impressions matter, and you may have to dress up to close some deals. However, a strict dress code isn’t always a necessity in real estate. Most brokers won’t care about how their agents dress as long as you look presentable and manage to connect well with your clients.
Another freedom you can get from becoming a real estate agent is the work arrangement. You can work whenever you want from wherever. If you feel like working while on vacation, you can do so long as you produce results.
6. You grow your network
Whether you work in residential or commercial real estate, you will get to work with various clients and colleagues. Each of these people you meet comes with different backgrounds and expertise, and they can make fine additions to your growing professional network.
Having your own network of people is beneficial personally and professionally. In fact, you can even tap this network if you have any queries that could help you with the sale of a specific property.
7. There are plenty of learning opportunities
Real estate is an industry where there’s always something worth learning. Tastes always change, the market will not stay stagnant, and legislation can easily transform how real estate is done in the country.
The industry is alive, and there will always be chances to grow what you know. If you’re always looking to learn something, joining the real estate space is not a bad move.
Become a Leading Real Estate Agent Today
What we have listed above are only some of the reasons why being a real estate agent is a good career path. But while becoming a real estate agent is easy, its lucrative potential only comes to those who work hard for it.
If you want to become the best agent you can be, RE/MAX Gold Philippines can help you achieve this and more. We have the right tools and knowledge to help agents of any skill level to reach their objectives. Talk to us and see how we can transform your career for the better.