Real estate agents are quite happy people, even if they’re not the happiest professionals. With 53% of realtors claiming to be very happy with life compared to 33% of Americans, something is going right in the profession. So, why are realtors so happy?
Realtors are happy because they have job satisfaction. This is due to high earning potential, flexibility, the opportunity for continuous learning, independence, being interesting and active, and the ability to help. But there are challenges such as stress, disappointments, and income volatility.
However, the challenges should discourage you from becoming a realtor. There are tips for handling these challenges. Here, we discuss why realtors are so happy.
Factors that Contribute to Realtor’s Job Satisfaction
Here are the factors that contribute to the high job satisfaction among realtors:
1. High Earning Potential
Real estate agents are unlike most jobs because it’s based on commissions. The commission can be quite high and is enough reason to want to work. Getting those high real estate commissions isn’t easy. It usually requires being a local expert in the trade, building a network, and maybe establishing a specialty in a niche. But if you do all these things, you can count on earning well.
The top realtors earn six-figure income annually. Also, the earning potential in this field comes with growth opportunities. After getting the real estate license, realtors can specialize in other areas such as appraisal, real estate brokerage, investor, etc.
2. Flexibility Of the Job
Being a realtor allows you to have a work-life balance. This isn’t a job you have to clock in for by nine and leave by five. It has a flexible schedule and work environment. Realtors can determine what they want to do in a day and fix meetings and inspections based on their convenience and the client.
The work-life balance of this role makes real estate agents quite happy. More than anything, work-life balance has become one of the major concerns of workers, and many are changing professions because of that. Being a realtor also allows for part-time roles.
3. Offering Value and Helping People
Realtors aren’t like other salespeople; they’re not just trying to push a house on you. They’re consultants who help clients make the best decisions. Becoming a homeowner is usually a big decision that affects a family’s lifestyle. Even when renting, getting the dream house or apartment still has significance. Realtors are there to help make that journey as smooth as possible.
They help clients find their desired homes, negotiate with the seller, and advise on the right financing to use. For most realtors, this is more than just a job. It comes with a genuine desire to help people. There are several cases of realtors becoming lifetime friends with the family they help find a home. That’s just how great they are.
4. Opportunity To Keep Learning
If “learning never stops” was a profession, it could be a real estate agency. Being a realtor means having to learn every because the industry is dynamic. Beyond that, states have their Continuing Education programs. Realtors have to take these programs to maintain their licensing. As a realtor, you’ll meet new people and check out new places almost every day. All these come with new experiences and lessons that further make the realtor better.
5. Active and Interesting Job
Many people don’t find satisfaction in their work. The reason is simple; they find it boring sometimes. Routine can be mind-numbing. With many people spending a significant part of their lives on a job, it only takes a while before it starts taking its toll. As a realtor, this is unlikely to happen. Every day comes with new experiences. Realtors rarely sit in a spot all day. The daily activity of a real estate career could compare to a workout. With the experience and physical activities, realtors are always mentally stimulated.
People value their independence in a career. But not many get to enjoy that. Realtors enjoy that independent status of being their boss. They don’t have to answer anyone. This means they decide everything regarding their operations, who they work with, and how they work. All realtors need to do is follow the code of ethics.
Challenges Of Being a Realtor
Being a realtor is fantastic, with several reasons to be happy and satisfied. It’s not perfect. There are some disadvantages, such as:
Being a realtor can be physically and mentally tasking. The result is becoming stressed. Going to several places, interacting with multiple people, meeting clients’ demands, etc., isn’t easy. Although the schedule is flexible, it may be difficult to rest sometimes. There are days you work only 2 hours and some days you work 14 hours.
2. Income volatility
The income of a realtor isn’t stable because it’s based on commissions. The number of houses closed within a month usually fluctuates based on many factors. There’s also the competition to consider. All these can make wages very volatile. This applies mostly to those just entering the trade and yet to build a network. Here, you have to make a sale to get paid. Since there’s no safety net, you’ll have to have savings to make up for bad months.
3. Lots of Disappointment
It takes personal will to be happy as a realtor because you’ll have to deal with rejections. Some buyers will choose not to continue with a transaction even after you’ve made all the efforts to find them a property they like. Sellers May delist a property after listing. Not every seller or buyer will want to work with you. All these can be quite disappointing at times. But it’s part of the job.
Tips For Improving Your Happiness as a Real Estate Agent
You can improve your happiness and efficiency as a realtor using the following tips:
- Get enough rest and sleep
- Take regular breaks during the days, especially long ones
- Have some savings
- Develop relationships with your clients as they’ll be valuable to you
- Join an association or community of realtors
- Plan your day and use technology to increase efficiency
- Constantly improve yourself
- Develop people’s skills as you need this to succeed.
Realtors are usually happy people. There are a lot of valid reasons that explain this. But being a realtor isn’t a walkthrough. It has its challenges which can discourage some people. With the right mindset and practices, anyone can overcome these challenges.