5 Myths About Working in Real Estate

If you have been thinking of making a career switch to real estate, you may have come across several myths that may be making you take a step back and look for another career opportunity.

Generally, real estate agents help their clients buy, sell, or rent properties. For example, when buying a home in NYC, a real estate professional will help you with the entire process and make your buying journey a breeze.

However, in this article, we’ll debunk myths about working in real estate to help you learn the truth and make the right decision.

Myth #1: You have to niche down to be successful

Narrowing down on a niche can help you attract the right clients to your business. However, putting a tagline on all your marketing efforts for a certain niche that you work in will deter other potential clients that want to work with you. So, you should have open options.

This way, you won’t really be able to become a successful real estate agent. For example, if you tell everyone that you only work with families, other clients who want to work with you won’t do so, and you will miss out on a lot of them.  

Myth #2: You can sit back and earn a commission

Most people think that real estate is a pretty easy job. All you have to do is answer a few calls, tour open houses with your clients, and you will be able to collect the commission.

In reality, it’s not that easy. Although you don’t have to work 9 to 5, you may still need to be available on weekends or later in the evening to get the best lighting for photography or taking your clients to open houses.

Of course, nothing comes easy. By working hard and even when you don’t want, you may have to finally earn a commission.

Myth #3: It’s all about making a sale

It’s not really that simple to make a sale, or it’s not only about making a sale in real estate. When working with prospective buyers, you have to properly guide them and keep their best interests in mind.

You may also need to negotiate with the seller, on the other hand, to make sure both parties are satisfied and you can close the deal without any problems. All this requires you to take care of every transaction-related perspective.

Myth #4: Anyone can do it

While it’s true that a university degree isn’t required to start working in real estate, and you can also get trained when already working, still not anyone can do it.

It mostly boils down to having certain personality traits and soft skills. You need to be dedicated and always willing to lend a hand to your clients when dealing with them.

You also need to be friendly and have great communication skills while building great relationships with customers, establishing trust, and delivering spectacular experiences.

Myth #5: You need to make 100 calls a week to your database to be successful

Calling your friends, family members, leads, or past clients every week to sell your services will simply make you seem too needy and salesy. This will only put them off as you’re always trying to get something from them.

Instead of calling everyone, make sure your services speak for themself as such that people themselves ask you about your real estate business. This is when you can stand out and share your deep knowledge to impress them. However, don’t start asking them to sell or buy a property.

Interesting Related Article: “Marketing Commercial Real Estate: Leveraging Digital Tools and Techniques