What is it about the real estate profession that attracts so many people?
There are many myths out there:
1) it is a quick buck
2) you have so much free time
3) your time is your own to do whatever you want
4) you can be a stay at home mom and do real estate
5) you do not have to have an education to do real estate
6) all you do is ride around and look at beautiful homes
Is it one of these myths that attracts people to this profession? In my opinion, a lot of people get in the real estate profession because they believe they can make a lot of money with very little effort.
Nothing could be further from the truth:
1) you have to be educated in the field of real estate, finance & " the art of 
getting along with everyone"
2) you have to be willing to sacrifice some things
3) you must be a person who likes people
4) you must want to serve
5) you must enjoy helping others
6) you have to be the type who is determined
7) you must be willing to work more than 40 hours a week, if necessary
8) you must be a type who likes to learn new things
9) you must be always prospecting
10) you must be willing to treat real estate like a job, not a hobby.
If you are a person who can perform these above 10 items, you will be successful in the real estate profession. I, for one, would love to have anyone who wants to do these things join my family of real estate agent-owners.
Co-founder of AgentOwned Realty
Liz@AgentOwned.com
843-725-5007
The AgentOwned Realty serves your real estate needs for:
Isle of Palms, Sullivan's Island, Daniel Island, North Charleston,
Summerville,Goose Creek, Moncks Corner, Santee, Manning, Sumter, Florence, & Myrtle Beach, all in South Carolina
Copyright © 2010 By Liz Loadholt, All Rights Reserved. This post may be re-blogged only with a link back to this post.*Real Estate - just a quick buck*
Hi Liz, your post is accurate. I hope people looking to join the profession read this post. It is most definately NOT easy.
Liz- I think that you are right. Most people think that real estate agents make huge money with little time and effort put into it. I recently had a friend that met with me to talk about getting into real estate. I sat down with her and explained how the basic commission structure works, as well as an estimate of our monthly expenses. She couldn't believe that I paid for my own gas, insurance, etc, and that I had to pay monthly and yearly dues to our local MLS. She decided that this wasn't a profession she wanted to pursue. She thought that I received a weekly paycheck and that my closing commissions were bonuses of sorts!
Hi Liz,
I was a office manager and trainer for many years. I spoke to so many people who did actually believe in all or some of the myths you listed. It was easy money for a short time when the market was insane, thus resulting in our current market adjustment. But I tell new agent that your are not a "true" real estate professional until you've gone through a few different market cycle.
Liz ----thanks for stopping by -- I hope that lots will read the post -- thanks for your nice comments.
Jen ---- thanks for stopping by -- interesting story -- better than your friend found out before she got too far involved.
Kim ---- thanks for stopping by -- I agree that true real estate professionals can make it in any type of market.
Liz - You spell out many reasons to qualify yourself if you wish to embark on this profession. The time one invests at the onset is incredible. Then there is the mystical money business. All play and no work is a great way to end up broke. "Show me the money" is better said "Show me the work".
Liz, these myths are widespread. On number 10, its not a hobby or a job. You have to treat it like a business!
Liz: Ah yes! The lure of the quick buck and tons of free time. So why exactly, as a Realtor® was I out showing property on Saturday in a snow storm from Noon until 6pm? ;) IThis will be the fourth contract we've written in as many weeks. Hopefully this one won't take all week to get back to us.
I've seen at least 3 people get in the business because it was easy and they could make lots of money and with in 3 years they spent their life saving and we now getting divorces because of the financial stress real estate caused their family.
Hey Liz it really is good to tell folks what it means to be a Realtor. So many give up because they are not prepared for the hard work.
Thanks for the reality check, Liz. We've all heard how "easy" our jobs are....just looking at pretty houses all day long. Geez.
This is a business...and not an easy one. I love it, but lost my rose-colored glasses a long time ago!
Dear Liz,
Your post really hit the mark. Everything you said is 100% true. Thanks for giving people considering real estate as a way to make some "quick bucks" the unvarnished truth about this profession.
Cheers!
Betina
Are you trying to tell me that I actually have to work to make money in real estate? Thanks for setting me straight! :-)
Liz, great post and right on the money. Have a good nightl
Liz,
During the boom time. anyone who was breathing got into this game. When the market went south, they dropped like flies.
Claude ----I like your "show me the work" -- you are right, if one shows the work, the money will come. thanks for stopping by.
Betty & John ---- you make a very good point -- it is a business, not just a job. Thanks for stopping by.
Chris Ann ---- WOW -- the 4th contract in 4 weeks with the same folks -- best of luck on this one --
Todd ---- it is really widespread, isn't it. Thanks for stopping by, my friend.
Charlie ---- thanks so much for stopping by -- you are right, so many give up early because they don't understand what it takes to do this business.
Kathy ---- thanks for stopping by -- you sound like my kind of Real Estate Professional.
Betina ---- thanks for stopping by -- and for your great comments.
Irene ---- you are soooooooooo funny --I'm glad that I was the one to set you straight - LOL
Terry ---- you are so right -- the ones who are left are our true professionals.
