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Five perks of becoming a real estate agent

Posted by admincastle on April 29, 2016
| Blog
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Choosing a career at the age of 18 is one of the most intimidating decisions you will ever make, filled with second guessing, apprehension, and anxiety. You decide the rest of your life in the simple click of a button. Luckily, this doesn’t have to be the case. You can change jobs, career, or even choice in education as many times as you like until you find something that fits perfectly. After all, what’s the point if it doesn’t make you happy?

 

When sculpting your life as an adolescent, you’ll likely seek the advice of your elders (be it parents, friends, whatever). The stereotypical response usually is ‘go into law or become a doctor, the salaries are great’. While the money is great, those careers simply aren’t for most people.

 

One field that is generally overlooked is real estate. From appraisers to advisers, there are a number of jobs within the sector. However, one position stands more popular than the rest. Holding a license to sell they go by the name agent, real estate agent.

 

Puns out of the way, the real estate agent is the most commonly known job within the property domain and is your contact when buying or selling a home. Agents are most attributed to being the intermediary between the buyers and sellers of property but this is only one of their many duties. Without going into great detail, real estate agents are responsible for leasing homes, evaluating mortgage options, and inspecting properties. With great responsibility comes great financial compensation (one would assume) but the starting salary of a real estate agent is just £12,000 – £20,000 in the UK and $33,000 in the US.11-09-2011_399(49).jpg

 

The monetary rewards do become more handsome as you progress through the agency ranks but it is the other perks that could be more beneficial.

 

Commission

 

Most estate agents and realty firms work on a percentage based policy where if a property is sold the company or agent will receive a percentage of the final sale. The percentage is usually between 1.5 and 5 percent, which for a £500,000 home is £7,500 upwards. From this the agent responsible for the sale of the property could receive up to 10% of the profits, raking in a cool £750 on top of the standard salary.

 

A growing market

 

There has been a traditional formula for anyone looking to sell or buy a property since the beginning of the estate agent: the customer approaches a firm or agent and pays for their service via way of percentage. Now, online estate agents offer a new service where customers pay an initial fee and list their properties online. This new business model has presented thousands more opportunities for estate agents, in the way of jobs, experience and even the option to launch their own online estate agency.

 

Less desk dwelling

 

In the corporate world many employees can be found crammed in a cubicle or designated to a desk. While some enjoy the routine, others despise it. Studies have shown that prolonged sitting behind a desk can lead to depression and other mental health problems.

 

Estate agents lead a more active career, as they can be found hosting viewings for buyers, open houses for the more luxurious properties, and inspecting homes that are wanting to be sold.

 

Discounts & Bargains

 

Selling or leasing your first property is a monumental and expensive step in everyone’s life. As you could probably expect, if you have the ability to sell your own property you’re likely to receive a discount on it. Estate agents can usually expect to see the percentage fee lowered if they choose to sell or lease their property through the agency or firm they are employed by.

 

Mark Ferguson, owner of Investfourmore and real estate agent, explains that by having access to the properties that are just listed you’re able to “to see houses faster and make offers faster”, allowing you to snag some real bargains. Of course, you’ll need a significant amount of capital for this.

 

Qualifications

 

While some estate agents do get a bad rep, it is still considered a professional career choice and a career with such prestige would need at least some sort of degree, right? Wrong! Most agencies do not require specific qualifications and some will even allow you to gain all of the necessary certificates on the job.

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