Making the leap into real estate often means leaving your established career and jumping into uncharted waters. A career change can be scary for anyone. Luckily, there are many signs that can guide you toward that decision. Here are five indicators that will help you decide whether now is a good time to start a North Carolina real estate career.
#1: You are ready for a change
Many new North Carolina real estate brokers coming on board are transitioning from previous careers. If you’re tired of your current career path, feeling like your talents are wasted, or just looking for a job with better earnings potential, now could be a good time to start a North Carolina real estate career. Real estate can offer you the career freedom and income potential you’ve been looking for.
#2: You’ve always wanted to work in real estate
Some people are just drawn to real estate. Are you the type who notices house structure and is always looking at websites or magazines with the latest home designs? Do you think about helping families find their dream homes? Successful North Carolina real estate brokers are often those who have a deep passion for the home-buying process and the joy that clients get from finding their perfect home. If you’ve always wanted a career in real estate and think you have what it takes to develop your career, now may be the perfect time to jump in.
#3: You’re in a prime area for buying and selling real estate
Before you make your decision, learn about market conditions in your area. Do you live in a rural area, small town, suburb, small city, or big city? How many brokers are working there? What would be your specialty? How many homes or commercial properties could you reasonably sell in your niche market? To determine if there’s room for you in your market, ask a local broker-in-charge about the number of active brokers in your community and how many homes typically sell per month or per quarter. Then do the math to figure out if now is a good time to start a real estate career in your area of North Carolina.
#4: You are dedicated
Real estate is one of those careers where your earnings potential is directly tied to the amount of work, effort, and dedication you put in. Sure, some real estate brokers are part-timers and just hold a license to help the occasional friend or family member buy and sell. But to be a successful, top-earning real estate broker, you’re going to have to put in the time. Are you currently in a position to do that?
#5: You have the resources to sustain yourself as you make the career change
Many people are wary of the real estate profession because of the uncertainty of working on commission. If you don’t sell homes, you don’t get paid. If you end up going months without a sale in your first year, it can be scary. Do you have enough money saved up to sustain yourself as you transition into a new career?
Note: Some brokers-in-charge, in some markets, pay a salary instead of a commission. Some brokers prefer that, and some don’t. Ask several local brokerages about their compensation policies.
So, is now a good time?
A North Carolina real estate career can be exciting, challenging, and profitable for those who give it the time and energy it demands. If you were to poll brokers in your area about the reasons they got into real estate, you’d get a wide range of answers. Before making this decision, ask yourself the following questions:
- Am I ready for a change?
- Am I passionate and dedicated?
- Do I have enough time and savings?
If the answer is yes, all signs indicate that now is indeed a good time to start a real estate career. It’s just a matter of deciding you’re ready to jump.