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Health & Fitness

Is It Time For A Career Change?

When the recession hit five years ago, many people were either forced out of a job, sought new opportunities or strongly considered making a move to the type of career they had always wanted.  With a more stabilized economy and consumer confidence higher today, it may be the perfect time for career-changers or those on professional hiatus to consider working in real estate.  Do you have what it takes for a career in real estate?  What skills and attributes are needed?  What are the employment benefits that a career convert can look forward to? How robust is the industry? 

A career in real estate can be part-time or full-time based on your aspirational needs, your financial goals and other considerations in your life.  Whether you are seeking a flexible role or looking for a full-time position – real estate candidates should be prepared to work hard, committed to delivering premium service and willing to differentiate their personal brand in a growing, competitive real estate industry. Earlier this year CareerBliss compiled a list of the 10 happiest jobs on the planet, based on ten key factors including relationships with peers and bosses, work environment, compensation, growth opportunities and control over their work. According to the leading online career community, real estate agents are the happiest employees because they have control over their work outcomes, they have the potential to earn more and they continuously experience personal growth because their role relies on collaboration and problem-solving techniques.

Real estate agents can work on behalf of renters, buyers and sellers during any given transaction – but often experienced agents choose their niche.  If a real estate agent is a member of the National Association of Realtors (NAR), they have earned the right to call themselves a Realtor.  In other words, all Realtors are real estate sales associates, but not all real estate sales associates are Realtors.  Realtors are held to higher standards than your basic real estate agent. They adhere to a code of ethics, are required to continue education that will benefit clients and continuously raise the bar for the industry, and are part of a strong association.  Most real estate agents work under the direction of brokers, who have the ability to earn commission, run their own businesses, and teach real estate.  There are certain prerequisites that must be met to become a real estate agent.  In Massachusetts, sales associates must complete a minimum of 40 hours of pre-licensing instruction through a state-approved school before they can sit for an agent license test.  An additional 40 hours of classroom instruction as well as three years of experience are required before applying for a broker’s license exam in the Bay State. 

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It is important to think of the commitment, requirements, benefits and drawbacks of a real estate profession. Real estate can be a 24/7/365 job, but it also offers unlimited potential and that is a tremendous draw for those that are motivated, entrepreneurial, savvy and connected.  Realtors work on commission, a fact that is appealing to go-getters. It is important, however, to note that an individual can work for months before seeing their just rewards; and if the sale does not go forward, there will not be a paycheck. This is the risk and reward of real estate, and most sales careers for that matter. The key is for agents to effectively manage their time, market their services and budget wisely. Real estate can also be a seasonal business with distinct ebbs and flows. The seasonality of business has been less apparent in recent years especially during the last twelve months with buyer interest at historic highs and attractive mortgage rates persisting.

A successful real estate agent should be self-motivated, marketing-savvy, personable, resourceful, cooperative, resilient and even-keeled. An agent will need to create their own personal brand, manage client relations, market their services, promote property features to a variety of audiences using a host of different mediums, act as a mediator between agents, lawyers, mortgage brokers and other business partners – and maintain a strong presence in the community. Being a good listener, having empathy and knowing the value of networking complete the profile of a Realtor.

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Careers in real estate are not limited to the agent and broker roles.  Associated jobs include: real estate law, appraisers, loan originators, designers, professional stagers, home inspectors, termite inspectors, home warranty sales, builders, land developers, loan processors, underwriters and other support staff.  Each of these roles will have a great impact on the sales process, offer a front row view of real estate services and provide invaluable homeownership insight in the process. 

If you’re in the market for a new career, consider going to the happy place that earned top billings in this year’s CareerBliss study. 

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