11 Challenges of Being a Real Estate Agent
Who said being a real estate agent was easy? Of course, it can be a rewarding job with many benefits, including an interesting salary, and the possibility to make your own schedule.
But real estate agents also have to face different struggles, and helping people sell and buy property is definitely not as simple as it might sound. Here are some of the challenges of being a real estate agent.
1. They can never be sure when they will get paid next
There are months where real estate agents make a lot of money, and months where they are wondering if they will be able to feed their family properly. It’s difficult to tell if they will have a good month or a bad one. They need to sharpen their budget skills or use a company that specializes in advancing commissions for real estate agents.
2. Their work can take a toll on their family life
Most people who want to sell or buy property have regular day jobs, which means they will only be able to contact their real estate agent during the evening, or on the weekends.
That also means real estate agents often have to take calls or make appointments while they are having a meal or spending some time with their family.
3. They never really leave their work behind them
One of the good things about being a real estate agent is that they can make their own schedule and work when they want to.
Unfortunately, it can be very challenging to set clear boundaries between their work and their personal life. They need to be available to take phone calls and answer emails anytime.
4. Some of their clients don’t know the value of their time
One of the challenges of being a real estate agent is that some of their clients don’t know or don’t respect the value of their time.
Agents can waste their time working for buyers who have not qualified yet, or worse, they can wait for a client who wants to check a house, but shows up late, or not at all.
5. They have to deal with all sorts of people
Even if real estate agents enjoy working with people, they have to deal with all sorts of people, which might not always be pleasant.
Buying or selling property can be stressful and emotionally challenging, and it can definitely bring out the worst in people, whether they are clients or colleagues.
6. They need to develop many skills at once
Being your own boss can be fun, but it can also be extremely challenging. Being your own boss means you are responsible for building your brand, marketing yourself and your services, following up with leads, and doing everything else that needs to be done for your business to run smoothly.
Real estate agents need to develop many skills if they want to succeed.
7. They are in competition with other real estate agents
Whether they like it or not, real estate agents are constantly in competition with one another. Working hard only to lose a listing to another agent can be very frustrating.
There are people who strive when they have to compete against one another, but there are people who simply hate it. One of the biggest challenges for being a real estate agent is that it can get quite ruthless and cutthroat, which won’t be a suitable environment for everyone.
8. Some of their clients ask them to lower their prices
There are real estate agents who have to deal with clients who don’t know the value of their services, and will go as far as asking them to lower their prices.
Having to justify the value of your services and to negotiate with a stubborn client can be very challenging.
9. They have to pretend they are successful even when they are not
Real estate agents often feel pressured to pretend they are successful and the market is great, even when this isn’t the case.
After all, people will be less likely to want to do business with an agent who tells them he or she is struggling, and did not manage to close a deal in a long time.
10. They have high expectations for each of their transactions
Real estate agents work hard to turn their leads into happy clients, and to close their clients’ transactions. When something doesn’t go as planned, they can be very disappointed.
They can get too invested in their work, and have high expectations because if they don’t close a deal, they might not get paid at all.
11. Some people think they don’t need real estate agents
Many people think they don’t need a real estate agent to find a house, and buy it. They think they can simply go online, and learn everything there is to learn about the market.
While it’s true that anyone can see online listings, real estate agents are the ones who can provide buyers with the most accurate information, and they can help them make sure that their buying experience will go as smoothly as possible.