Now more than ever, the job and career landscape is in a constant state of flux, and as a result, job seekers are finding themselves more stressed than ever. Technology is changing the game faster than most of us can keep up and gone are the days when employees spent decades with one company to retire with a pension. And that may be the key contributor to why more job seekers are looking to start a business of their own. Here’s why we believe that now is the time to start your real estate career.
In today’s blog post, we’re going to provide a high level overview of the key indicators of why a real estate business might be the perfect opportunity for you. From the low barriers to entry to current market conditions and the changing nature of job security, a career in real estate can be the ideal option for pretty much anyone.
Whether this is a new concept for you or an idea you’ve considered for a long time, you’re likely asking yourself: Why should I start a career in real estate right now?
Changing Market Conditions
The current state of the housing market is notably strong, characterized by rapid sales and record-breaking prices. This sellers’ market offers a unique advantage, especially considering Keller Williams’ emphasis on listings to generate leads and business leverage. However, it’s essential to recognize that market dynamics, including periods of contraction and expansion, are inherent in the real estate cycle.
For new agents, a robust market presents an ideal learning environment, equipping them with the necessary skills and disciplines for long-term success. This foundation prepares agents to navigate and thrive in any market condition, including the inevitable shifts.
Advancements in Technology
The real estate industry is experiencing a significant transformation due to technological advancements. And differing business models present new agents with more opportunities than ever before in our industry. At Keller Williams, we believe in being tech enabled agents, rather than being agent enabled tech. Real Estate is a relationships business and if tech becomes a barrier between us and our clients, that business will ultimately fail.
That’s why we’re creating best-class technology like virtual reality (VR) tours to enable clients to remotely explore properties, while online platforms and mobile apps streamline property searches, listings and end to end transaction management. Data analytics tools have become invaluable in analyzing market trends, offering agents data-driven insights on pricing and buyer preferences.
And cloud-based platforms enhance collaboration by allowing secure, remote access to documents. For aspiring real estate professionals, embracing these technological innovations is key to gaining a competitive edge in today’s market.
Growing Demand for Professionals
The real estate market is witnessing a significant boom, presenting an ideal time for starting your business. Rising housing demands and population expansion, coupled with fluctuating mortgage rates that frequently shift to favor buyers or sellers, actively fuel this growth. Moreover, the entry of younger generations, particularly Millennials, into the property market underscores the sustained need for real estate professionals.
This demographic views property investment not just as a lifestyle choice but as a strategic decision for wealth accumulation over time. The convergence of these factors – population growth, attractive financing options, and the investment mindset of new generations – creates a fertile ground for a career in real estate.
The Changing Nature of Job Security
The concept of job security has evolved significantly. Gone are the days of lifelong employment followed by retirement with substantial benefits. In today’s landscape, job transitions occur much more frequently, often every 2 – 4 years. This shift has led to a corporate culture accustomed to higher employee turnover.
Real job security, as we see it, involves the autonomy to create your schedule, be your own boss, and determine your earnings. In the real estate profession, your income and career progression are directly influenced by your efforts and strategies. Keller Williams provides the foundational training, including scripts, dialogues, and success models, to guide you in this journey. This approach to career development offers a refreshing contrast to the traditional dependency on regular paychecks and raises.
Real estate is a huge field with a wide array of specialties in which any agent can participate. Most people generally think of selling homes when they think real estate, but there are also massive opportunities in commercial, land, investments, luxury, international, as well as ancillary businesses such as development, consultation, coaching, training, and investing in real estate yourself. You are limited only by your beliefs and your work ethic.
There are thousands upon thousands of real estate agents that left jobs paying $50,000 per year, only to earn over $100,000 in their first year in real estate. Moreover, they grew those businesses, started side hustles, and own investment portfolios and it all began with a curiosity around getting a real estate license.
Low Barrier to Entry
How many successful businesses do you think can trace their beginnings back to a start investment of as little as $2,000? Probably not many. The typical real estate agent actively invests that amount to receive training, obtain licensure, join boards, partner with a brokerage, attend fast-track training, and begin their business operations.
And classes have just gotten cheaper. When I went through real estate school 20 years ago, my classes added up to roughly $1,200. Those same classes can be had for under $1,000 today. and through Keller Williams KSCORE program, you can even get them for free.
I can’t think of any other business with such incredible opportunity for growth that you could realistically start for $2,000. A lawn & garden business? Nope – you need the equipment, trailer, and fuel. A window tinting business? Nope – renting a small retail space alone would break that budget. Can you think of one?
So if not now, then when?
The most compelling reason to start a real estate career now is the recognition that there may never be a “perfect” time. Life tends to become increasingly busy, and waiting for the right moment might result in missed opportunities. By choosing to act now, you position yourself to be the one who proudly says, “I’m glad I did,” rather than lamenting, “I wish I had.”
Starting a career in real estate is indeed a commitment that requires dedication and effort. It’s a path that may not be suitable for everyone. However, for those willing to invest the necessary work, the rewards can be substantial, offering not just financial gains but also a sense of freedom and personal accomplishment.