Are you looking for a career path that pays well and provides you with the flexibility to work when you want, how you want, from wherever you want? Real estate might be the right fit for you.
An AceableAgent study of over 600 active real estate agents provided valuable insights into the day-to-day realities of working in real estate. And wow, these agents love the flexibility and high-income potential of their real estate careers!
How Flexible Is Real Estate?
A whopping 98% of agents surveyed agree that a career in real estate offers good flexibility. Let’s look at the different factors that make real estate so flexible.
You Can Set Your Own Schedule
Being a real estate agent or broker typically means you get to work as many (or as few) hours as you want. While some industry professionals may have required office hours, 87% of real estate agents surveyed say being a real estate agent allows them to control their hours.
According to the National Association of REALTORS (NAR), the average REALTOR works 35 hours per week. And they’re not limited to the traditional nine-to-five schedule. Many agents work in the evenings and weekends, fitting their real estate careers around their other commitments.
This is ideal for parents who want to be home when the kids get home from school and people who want to transition slowly from their current day job to their new real estate career. You can even use real estate as a side hustle.
Plus, you never have to stress about getting time off work for doctor’s appointments, sick kids, special events, or family vacations!
You Choose Your Work Environment
Do you like working in a bustling office? Or do you prefer working remotely? Many brokers provide office space for those who want it but also allow agents to work from home. And with the technological innovations expedited by the pandemic, working remotely is easier and more efficient than ever before. You can use virtual tours, online listing platforms, and digital marketing to streamline your real estate business from anywhere you happen to be.
You also get to choose your market niche, which determines the kind of property you’ll spend your time showing. Maybe you want to specialize in rural homes so you can spend lots of time outdoors, taking clients around sprawling acreage. Or maybe you decide to become a luxury agent and spend your days showing off multi-million dollar estates.
You Are Your Own Boss
Real estate agents are supervised by managing brokers, but many brokers offer complete anonymity to their agents. As long as you operate within legal and ethical guidelines, you’re typically free to run your business as you see fit.
This means you get to decide how you work, including how you want to market yourself, conduct client meetings, hold open houses, and generate new leads. You can even decide to outsource tasks you don’t enjoy doing. Many agents hire people for tasks like data entry, drafting paperwork, and following up on leads to set appointments.
There's Unlimited Income Potential
86% of agents surveyed report that real estate offers them good earning potential. Because agents are usually paid on commission, their income is tied to results rather than the number of hours worked. But let’s discuss some ballpark figures…
How Much Money Do Real Estate Agents Make?
Since real estate agents have the flexibility to control their income, they can make anywhere from $0 to literal millions of dollars per year. Before we look at average earnings, let’s consider the factors that determine how much money you can make as a real estate agent:
Part-time vs. full-time: If you’re only spending a few hours per day on real estate, you will likely make far less than if you work in real estate full-time.
Ability to generate leads and close deals: The higher your sales volume, the more money you make.
Local market conditions: When more people are buying and selling, it may be easier to close more deals and make more money. Similarly, since commissions are typically tied to the sale’s price, higher property values can mean higher incomes.
Specialization: Agents who specialize in high-value properties like luxury real estate or commercial real estate may earn more money.
Experience: The longer you’re in the industry, the easier it is to generate repeat and referral business.
Keeping these factors in mind, the US Bureau of Labor Statistics (BLS) has some data on the mean average income for real estate agents. According to the BLS, the mean annual wage for real estate agents in the US is $69,610 as of May 2023.
However, this figure varies dramatically by state. Here is a look at annual mean wages for agents in five states across the country:
New York: $112,080 (learn more about getting a New York real estate license)
Texas: $78,390 (learn more about getting a Texas real estate license)
California: $72,870 (learn more about getting a California real estate license)
Florida: $68,100 (learn more about getting a Florida real estate license)
Georgia: $64,410 (learn more about getting a Georgia real estate license)
In many cases, agents are currently making even more than these annual mean figures because home values have risen since the most recent BLS data, driving commissions up.
How Do I Get Started in Real Estate?
If your goal is to maximize flexibility and income by becoming a real estate agent, your new career starts with a real estate license. And you can get your license in five simple steps:
Meet the age and residency requirements for your state.
Complete a state-approved real estate course (some states require multiple courses). In most states, you can complete your course and get your real estate license online.
Pass your real estate exam.
Find a broker to supervise your work.
Complete the application for your real estate license.
Is Getting a Real Estate License Worth It?
Agents report investing an average of eight weeks and $1,266 in preparing to pass their real estate exams (though the actual time and expense vary dramatically by state). Compare this to the requirements for other professional occupations, which may require a four-year degree and can easily cost tens of thousands of dollars.
An impressive 85% of agents surveyed believe the financial investment was worth it.
Can I Get Started in Real Estate Without a Real Estate License?
Some real estate career paths (like leasing apartments, for example) offer options for starting without a real estate license in some states. However, these positions are typically traditional employment, so they don’t offer the flexibility and income potential of being a licensed real estate agent.
Start Your Flexible Real Estate Career Today!
With so much flexibility in terms of career paths, scheduling, autonomy, and income, a real estate career is an appealing option for anyone who wants more control over their life. So don’t wait another day to start your new career. Enroll in your pre-license courses and start working toward your real estate license now!
Updated 9/3/24