Written by: Agent Advice
Published: December 1, 2020
Real estate is just about the safest investment you can make. It’s imperishable and almost always increases in value. Because real estate is such a valuable asset, many people use it as a vehicle to build wealth. Some do this by investing in properties, while others sell properties as an agent.
With new developments in technology and in the world at large, now is a great time to start a career as a real estate agent. Read on to find out why.
Real Estate Business May Be Changing for the Better
Not many of us can think of 2020 without thinking about the COVID-19 pandemic. The pandemic took the year by storm. It affected every aspect of our lives, and real estate is no exception.
You might assume that the coronavirus had an adverse effect on the real estate market, and to some extent, this is true. However, the effects weren’t as devastating in real estate as some would think.
Many people lost their jobs, putting them in no position to buy new homes. But as demand went down, prices and insurance rates also decreased. As a result, individuals became tempted to buy. In fact, more than 1 in 5 Americans moved, or know someone who has moved during the pandemic.
This trend became even more prevalent when the world started to reopen and people began returning to work. The economy is not fully recovered yet, but it is expected that the housing market will continue to improve as more people start working again. This could make for a real estate boom once the pandemic is over.
Virtual Opportunities are Bigger Than Ever
The COVID-19 pandemic opened doors for buying and selling homes virtually. During summer 2020, virtual home tours boomed. Even though certain areas have allowed for open houses to resume at limited capacity, virtual home tours still remain very popular. Experts in the industry say the trend is here to stay.
With people avoiding face-to-face contact, many transactions are being conducted almost entirely via video conferences, texts, and emails. As a result, agents are able to make a living without leaving the comfort of their own home.
The virus has changed the face of real estate by improving processes for showing homes and closing deals without the need to commute. The new developments have made for more convenient buying and selling procedures that will be beneficial for years to come.
Less Competition for Real Estate Agents
As a result of the COVID-19 pandemic, many real estate agents quit the real estate business or decided to sit on the sidelines. They were uncertain about the future and didn’t want to invest money in advertising for fear of a crash months or a year down the road.
As a result, those who have stepped away are providing more opportunity to real estate agents who are sticking with it. If you are just starting out in the business, you have less to lose. You can focus on building instead of holding back.
It’s Time for a Career Change
Many people have lost their jobs due to the pandemic. They may be looking to get into a new career field.
Real estate is an industry anyone can get into. All you need is the dedication to learn, pass your classes, and work hard. Across the country, people are taking advantage of newly found downtime during the pandemic, and investing the time in starting a new career. For example, Texas real estate schools have seen 11,900 students graduate in 2020 alone! Nationwide, Kaplan offers a wide variety of courses that make it easy for you to study with their flexible schedules.
If you are collecting unemployment from your previous job and have enough to sustain yourself while you’re training, now is the perfect time.
Online Courses Make it Easy
Today, many companies offer real estate classes online. This makes it easy for prospective real estate agents to get their licenses.
Different states have different requirements for prelicensing education, but it’s based on hours of time. The amount required is broken down into classes that run for a set amount of time.
If your requirements include a four hour course and you are taking in-person classes, you will need to stay for the full duration. On the other hand, if you are taking the classes online and are a fast learner, you may be able to get through the classes sooner, cutting back on your overall time. The time needed will further be reduced, considering you won’t have to commute to a class.
Online classes also tend to be less expensive than in-person courses, and eliminating commuting expenses will help to this end as well.
It’s a Great Career
Here are some reasons why real estate is a great career, no matter what year it may be.
- People always need a home: No matter how the economy fares, people always need a roof over their heads. They always need a place to live and a place to work. Therefore, there is always a demand for real estate and a need for real estate agents.
- Flexible scheduling: When you work in real estate, you have to be open to accommodating your client’s schedule, but ultimately, you can set a schedule that works for you.
- You’re your own boss: As a real estate agent, you have no one to answer to but yourself. You also never have to worry about getting fired.
- You can make a lot of money: With houses costing anywhere from tens of thousands to millions of dollars, there are plenty of opportunities to make money. And the harder you work, the more you stand to make.
If you are looking for a new line of work, becoming a realtor is a great choice. It’s easy to get started, the potential is amazing, and the pandemic and updated technology have opened more doors than you might realize. Will you be taking the plunge?