Is real estate investment trusts a good career path? How to be a real estate agent? How much do they make?
This educational article aims to introduce the basics of real estate investing, including what it is, what types of investments exist, how they work, and the potential risks and rewards.
Understanding these concepts will prepare you to decide whether or not you want to pursue this career path and prepare you for your first steps into the business.
As an investor, it is essential to understand the risks and returns associated with an investment. It is also important to understand the costs associated with an investment.
Real estate is no different. To ensure you know the costs associated with real estate investing, you will need to know what a real estate investment trust is. What is a REIT?
The U.S. Securities and Exchange Commission requires that real estate and other investments be offered to the public through a stock structure to be considered a security.
This structure commonly takes the form of a corporation or limited liability company that owns all or part of a fixed portfolio of properties or mortgages.
Once the REIT has filed these papers, it is listed on one of the major stock exchanges, such as NASDAQ or NYSE, making it available for investors to purchase shares in the company.
By purchasing these shares, investors become shareholders who effectively own small portions of any properties directly owned by the REIT and its mortgages.
Is Being a Real Estate Agent a Rewarding Career?
According to the U.S. Bureau of Labor Statistics, Realtors® are the second-fastest growing career in the country. The real estate career is one of the oldest and most lucrative careers in the world.
It’s one whose reputation precedes it, but it is also misunderstood by many. I would have to say the biggest draw for me was the variety of career options.
When you work in real estate, you can take your career path in any direction. If you want to be a “company” person working in training or operations, there’s a place for you.
If you want to be an entrepreneur and start your own business, there’s a place for you. It allows you to shape your career path wholly based on what you enjoy doing and how you want to do it.
Do Real Estate Agents Make Good Money?
Just like all types of businesses, real estate agents make good money. So, if you are interested in becoming a real estate agent, here you will find out how much they earn, what they do and what it takes to become one.
Working as a real estate agent can seem like a great career. You meet new people daily, your boss, and you work on commission. The reality of the job, however, could be far from what you imagined.
The real estate industry is very dynamic. There are several different ways you can get involved in this industry. To be a successful Real Estate Agent, becoming as educated as possible is crucial.
You have to understand the local housing market, any economic changes, like interest rates and taxes, real estate CRM to manage relations with clients, and learn to negotiate between buyers and sellers.
Real Estate Agents often work on commission. Some agents earn a salary plus commission, while others are paid strictly by commission.
A report by the National Association of Realtors found that about half of agents earn between $35,000 and $74,999 per year. A small percentage earns less than $35,000, but only around five percent of agents earn over $74,999 annually.
How to Be a Real Estate Agent?
If you love people, have an entrepreneurial spirit, and have good communication skills, you’ll love being a real estate agent. It’s a career where you can help people achieve their daily dreams.
Real estate is a field where there is always room for fresh ideas. Today’s real estate agents must possess many skills to survive and succeed.
Just like the real estate business changes, so must your approach to it. You are now a different person — with a different story, different knowledge and different skills. And you should be marketing your business differently, too.
Have you ever dreamed of making a career out of buying and selling a property? If so, remember that there are many opportunities available in the field of real estate. The first step is familiarizing yourself with how to be a real estate agent.
The first step is to choose an education program that will train you in the skills you need to succeed. An excellent place to begin your search is to ask friends and family members who they would recommend.
If you cannot get a referral, consider checking out online programs that offer how to be a real estate agent. These often include interactive tutorials that allow you to practice your skills through hands-on exercises.
Steps to be a real estate agent:
- The first step to getting started is to get your real estate license. Your state will require that you pass a written exam and get the necessary education and experience.
- You’ll need a high school diploma or GED and typically college coursework, completion of pre-licensing courses (this varies by state), and up to two years of being employed in the real estate industry.
- The next step is to choose your real estate education path. Many states now offer approved online education programs that you can complete at your own pace to get your license.
- Once you have your license, you’re ready to start looking for a great job!
To learn more about how to get started in this career, visit Lex Levinrad website.