Debunking Common Misconceptions About a Career in Real Estate
Many people have encountered a real estate agent, whether through personal dealings or popular reality shows. Consequently, there are prevalent opinions about what it takes to succeed in this field. However, these perceptions often diverge significantly from reality.
To help clarify the true nature of a career in real estate sales, we’ve compiled a list of the top five misconceptions, along with a bonus myth. This guide aims to provide you with a clearer understanding of what it takes to thrive in real estate and to help you determine if this career path is right for you.
1. It’s Not Just About Real Estate
While real estate agents sell properties, the core of their work lies in people. Every transaction involves individuals, whether it’s a family selling their home or a corporation managing commercial real estate. Knowledge about the properties is important, but the key to success is empathy, problem-solving, and genuinely caring for clients.
2. You Don’t Have to Be a “Great Talker”
While many successful agents appear to be excellent talkers, the truth is they are exceptional communicators. The ability to listen is crucial when engaging with clients. Empathy and problem-solving skills are equally important; simply being articulate is not enough to ensure success.
3. It’s Not Exclusively a Commission-Only Job
Although many top agents earn a commission on sales rather than a fixed salary, there are alternative entry-level positions that offer a stable salary to kickstart your career. In fact, it is illegal to employ inexperienced individuals on a commission-only basis in Australia.
4. Not All Agents Earn Six-Figure Incomes
Success in real estate takes time, and the initial year can be particularly challenging. While top agents may earn significant incomes, most individuals spend their first year establishing a solid foundation for their careers.
5. You Can’t Achieve Success Part-Time
In Australia, the real estate industry operates differently from that in other countries. Many American resources suggest that part-time work is feasible, but successful agents here typically commit full-time to their careers. Investing time and effort at the outset is crucial for accelerating your success.
Bonus Myth: You Don’t Have to Be a Flamboyant Extrovert
Contrary to popular belief, successful agents do not need to be outgoing or overly extroverted. Many successful agents are more reserved. What’s essential is being comfortable with self-promotion and authentic branding, which can be achieved by embracing your unique style.
At NREL, we have trained over 15,000 salespeople in our 30-plus years in the industry. If you’re considering a career as a real estate agent, we encourage you to explore our Real Estate Courses. To become a licensed agent, you will need to complete the Certificate IV in Real Estate Practice (Class 2 Agent) specific to your state (NSW, QLD, VIC, WA).
Real estate sales offer a rewarding career with uncapped income potential. However, it’s crucial to understand the realities of the profession before embarking on this journey. If you find that real estate isn’t the right fit, you might consider our Mortgage Broker Courses for a different perspective in the industry.
