6 Great Reasons NOW is the Time for You to Jump into Real Estate
Becoming a realtor has generated interest for decades. The real estate licensing requirements are readily available and many view real estate as an attractive field. In fact, there are over 2 million real estate agents in the United States right now.
How do you know if the time is right for you to jump in? Consider the data. Just like you would comb the markets for data about home buyers, location, and housing prices, you can use similar data to help you determine why now is the best time to jump into becoming a realtor!
1. Real Estate is for People Who Want to Help
Any experienced realtor can tell you the importance of a personal recommendation. However, data really drives home the point that you are in the people business, not just sales.
According to the National Association of Realtors, 41% of buyers use the recommendation of a friend, neighbor, or family member to choose their own realtor. This is about trust as much as anything else.
2. Home Buyers Want & Need the Help
Listening to your clients and understanding their needs will help you build trust and generate a following. According to the National Association of Realtors, about 25% of home buyers are hoping to get help negotiating a better price and believe their realtor can help them do that.
Over half of home buyers are hopeful that a good realtor can help them find the kind of property they are afraid they won’t be able to find on their own. Homebuyers also cite help with the paperwork as another reason they want to engage a realtor in the process. Since this is the purchase of a lifetime, home buyers want someone who has empathy and knowledge.
3. The Face of Homebuyers is Changing
For someone who enjoys working with people, the real estate market has never been so diverse. The home buying market is split into different generations, each with its own needs and wants.
For example, older home buyers typically want to go to an area far away from their current home, whereas younger buyers are flocking toward urban centers. Younger home buyers want a range of buying options and are not afraid to take on a DIY project, meaning you can specialize in just about any housing market in your area and find an audience for it.
4. Online Offers a lot of Traffic
Lots of realtors use Facebook and other social media sites to promote their work, but not nearly enough to take full advantage of the opportunities in the virtual world. In fact, buyers are just as likely to find their dream property online as they are touring neighborhoods to see what is for sale.
A whopping 93% of people have used online sites to search for homes. Having a strong, visual presence online will definitely pay off. Add this to the fact that the younger home-buying market absolutely expects to handle most of the process online, and you can see how critical the virtual world has become to the real estate market!
Start your own website and leverage the power of sites like LinkedIn to establish connections with home buyers. In fact, the more you are able to utilize video, the more successful you will be. Learn how to do a commercial drone shoot and you will see your website draw in 73% more potential home buyers. In fact, homes sold using drone photography as part of the marketing sell on average a shocking 68% faster!
5. It's an Equal Opportunity Market
A full 67% of realtors are women, with 50,000 new female realtors entering the market every year. The average experience level of a realtor has also dropped from 10 years to 8 years, meaning that new realtors are getting into the market in droves – and staying. Data on realtors indicate that they are doing well at all levels of formal education and the average age is 54 years old.
6. The Work is Manageable
On average, most realtors work approximately 36 hours per week and the successful ones have great habits. They communicate with clients through email, text, and phone calls as well as maintaining a social media presence.
Real estate is also a business that isn’t terribly expensive to maintain. For example, the average costs associated in a year with being a realtor were $4,600, with most of those costs relating to vehicle expenses and always being on the go!
Buying a home is one of the biggest financial moves a family will make. The realtor plays a critical role in that process. You provide important knowledge of trends, financing, and other insightful market information that ensures a family is making the right decision for them. Through the trust they place in your work, you can help a family find their perfect home.
In 2013, CareerBliss offered the commentary that the career of being a Real Estate Agent was the number one most satisfying job you could have. What are you waiting for? Go ahead and get started!