Real estate business is amongst the most rewarding businesses, therefore, for a realtor, when it comes to earning money, the sky’s the limit. The more properties you sell, the more money you earn as incentives. But unfortunately, most realtors fail to meet their selling targets due to lack of selling skills and for various reasons.

One of the reasons is that they do not explore different ways to sell properties. Making money in real estate business is relatively easy due to the rapid expansion of the residential and commercial market for properties. You only need to be little tricky to convince the potential buyers.

• Can You Make a Living Off Real Estate?
• Can You Get Rich Being a Realtor?
• How Can I Make Money Fast as a Realtor?
• How Can I Get Rich in Real Estate With no Money?
• How Can I Buy a Million Dollar House With no Money?
• How Can Land Pay For Itself?
• How Many Houses do I Need to Sell to Make 100k?
• How Much do Realtors Make on Each House Sale?
• Who is The Richest Realtor?
• What is Aaron Kirman Net Worth?
• Is Real Estate a Good Career in 2022?
• How do You Survive Your First Year in Real Estate?
• How Long Does it Take to be a Real Estate Agent?
• What Percentage of Millionaires Are in Real Estate?
• Does Real Estate Agents Have a Future?
• Is Real Estate a Good 2nd Career?
• Is Real Estate a Dying Industry?
• Is Real Estate a Dying Industry?

Can You Make a Living Off Real Estate?

When it comes to real estate income, there are two ways to generate cash. You can generate passive income by buying and holding, while you can generate an active income by flipping contracts, doing renovations or adding value in another area — such as putting together property development deals. It might seem overwhelming at first, but it won’t be as intimidating once you gain experience.

Read Also: Real Estate App Development Company

There is no shortcut to make money or get rich quickly in real estate, but you can slowly and steadily build wealth by investing wisely. You would know that there are many different ways to become rich but real estate is one of the best ways to build wealth. 

Having said that, making money in real estate takes the right advice, systems, and determination. Investing in real estate stands out as a tried and tested approach to make money but like every other business, it has some risks associated with it.

If done the right way, real estate can be a great source to build wealth if you take the time to educate yourself about the process and the best ways to get great returns. If you have cash (a 20% down payment), it’s much easier to get started in real estate investing.

But the truth is many entrepreneurs start their businesses – including real estate investing – with very little money every day. Many of them just get off the ground by dreaming big and putting in a lot of effort.

Can You Get Rich Being a Realtor?

Being a realtor is often seen as a somewhat glamorous job, one that virtually anyone can do and potentially get rich from.

In fact, becoming a realtor can be a simple matter of taking a two-week course and passing a licensing exam. In a sense, getting into the business is easy.

But being successful is tough!

According to U.S. News, realtors in the 75th percentile make $61,960, and those at the 25th percentile make just $27,200. This data is from 2011, so these figures are undoubtedly a little bit higher now, especially with the improvement in the housing market, but it is a good indicator of the range and uncertainty involved in the profession.

According to a survey of 1,758 real estate professionals conducted by ActiveRain, 22% of real estate agents earned less than $35,000 per year, and just 21% earned $100,000 or more. This is far from a “rich” profession. In fact, these income levels look pretty similar to professions that are thought of as lower-income, such as education and law enforcement.

Becoming a real estate professional probably won’t make you rich overnight. While there are methods that seem to be effective, the best way to be successful in real estate is similar to that in most other businesses: Learn all you can, effectively use the latest technologies, and don’t be afraid to spend money in order to make money.

While a career as a realtor can certainly pay the bills and earn you a good living, those aspiring Realtors with visions of driving clients to properties in their new Porsche may need a reality check.

How Can I Make Money Fast as a Realtor?

While getting a real estate license might not be that challenging — it’s a lot easier than going to law or medical school, for instance — getting started in the business is hard. Many new realtors find out very quickly; just because they have a license, doesn’t mean they know how to make money in the business.

Furthermore, the commission-only nature of most real estate agency businesses means you’ll go a while without a paycheck since you have to wait for a deal to close before you can get paid.

Choose an Office

The first step in making money in real estate quickly is to choose a good office. In a good office, you’ll have a brand that can help open doors for you, as well as a head broker that can help guide you in the business. If you can find a mentor that will give you some training — and maybe throw you an occasional lead — that’s even better. Finding a place that will help you get the knowledge and the mindset that you need to succeed will help you propel yourself to earnings.

Work an Open House

Whether or not open houses are useful for selling listings is a matter of debate in the industry. What isn’t debated is they can be a good place to meet prospective buyers. See if another agent will let you help her work her open house and, if she will, you’ll be in a position to meet any buyer that comes through the door. If he isn’t already working with someone, you can take him as a client. While not every person that goes to an open house is a motivated buyer, many are.

Use Your Connections

Successful agents make their money, to a large extent, off of referrals. Since you’re new, you can’t lean on previous clients to help you make a living. You can, however, use people that you already know as a source of opportunity.

Working your network to see if anyone you know is thinking of selling or, if not, if anyone you know knows of someone that is ready to transact, you may be able to turn that connection into a relatively quick paycheck.

Find Cash Investors

If you can find all-cash investors that are actively buying properties, they might be your best path to fast cash. Investors are typically knowledgeable and resolute. While some might write low offers that are hard to get accepted, their ability to close with cash brings the seller the certainty of not having to wait for a bank to approve the loan.

It can also get you to the closing table more quickly — meaning you get paid. To attract these investors, you may need to be able to bring them an advantage. One example is to bring them properties that hit your listing service before anyone else does. If you have off-market properties to show them, it may also be a way to draw them in.

How Can I Get Rich in Real Estate With no Money?

Investing in real estate refers to any property owned solely to generate profit, either through rental income or through market value appreciation. There is no such thing as no money down in real estate because the money has to come from some source.

If you want to invest in real estate with little or no money, you need to develop the ability to recognize, understand, and even take advantage of other people’s money.

1. Purchase Money Mortgage/Seller Financing

The first proven way to invest in real estate with no money is through seller financing. When buyers are unable to secure a loan from financial institutions, they may opt to seek real estate financing from the sellers.

With conventional real estate transactions, the buyers will provide the sellers with the cash, to gain ownership of the property. However, with a purchase money mortgage, the seller extends finances to the buyer. The buyers will then repay the sellers, for the agreed terms.

2. Investing In Real Estate Through Lease Option

The second proven way to invest in real estate with no money is through the lease option. Under the lease option, the property owner charges the buyer a monthly or yearly premium, in the form of higher rental payments. The excess rental fee will then be channeled towards the purchase price. With this type of agreement, the investor can purchase an investment real estate using a slightly higher rental fee.

3. Hard Money Lenders

If you have no money to invest in real estate you can opt for hard money lending as a viable funding option. Instead of coming from a bank, the funds used in real estate investment will come from groups or private individuals.

Since these types of loans do not necessarily need to go through corporate procedures, they tend to have fewer qualification requirements. This, in turn, means that they can be secured fast. Moreover, private lenders might be more than willing to back up risky projects.

Therefore, the interest charged on hard money loans is higher since lenders are taking greater risks and the terms are normally 12 months or less. Hard money loans require the borrower to cover closing costs, application fees, appraisal fees, and any other costs associated with the purchase of a property. Real estate investing is an ever-evolving industry. Real estate is said to be one of the best investments that an individual can make.

4. Microloans

There are a variety of new financing options that have opened up the market for new real estate businesses to profit. As the name suggests, microloans are normally geared towards startups or newer businesses, which require resources to generate further growth.

Microloans are much smaller than what traditional financial institutions offer. The lower balances will, in turn, mean these programs are less strict in their qualification requirements i.e. credit score. A microloan is a good funding option to invest in real estate with no money.

5. Forming Partnerships to Invest in Real Estate With Little Money

Real estate partnerships are common for investing in real estate with little or no money. If you want to invest in a property, but the price tag is out of range, then an equity partnership may be what you need.

An equity partner is an individual whom you bring into a transaction, to help finance a property. There are different ways that partnerships may be structured, and thus it is up to the buyer and the partner to agree on a more viable structure.

How Can I Make Money With 5 Acres of Land?

1. Rent plots to groups looking to build a community garden

Community gardens are all the rage right now, because not everyone has the space to grow their own garden at home. If a few families get involved, they are likely to tell their friends about it, and as each family pitches in a portion of the rent for the plot of land, you’ll begin profiting immediately.

Plus, you’re investing in the community. All you have to do is provide the land. Part of the fun for your renters will be the act of developing the garden from scratch and reaping the benefits. 

2. Start blogging about your newest farming adventures
3. Set up a beehive and allow locals to schedule tours (safely of course)​

4. Make and jar local honey

Local honey has become extremely popular over the last several years. The more home-grown authenticity, the higher the price, so your margins are sure to be excellent. Once you’ve set up reliable beehives and can start harvesting the honey, local farmers market shoppers will eat this stuff up. You can also try selling it online, since consumers are always looking to try a new kind of local honey.

5. Grow unique flowers to sell at farmers markets

6. Make “how to” videos on Youtube, Pinterest or Instagram, and sell finished products on Etsy

If you have great light (which you probably do) and the time to spend creating beautiful photography, you can sell anything on Etsy. It’s a simple place to start. Their listing fees are nominal, and they already have a large following of dedicated crafters. Put together some “how to” videos or engaging image slides and tag your products; on Instagram as well.

Then hashtag all the right topics. Let’s say you’re posting a “how to” image slide on building the perfect bouquet of wildflowers. Look at what other similar postings have tagged, search “wildflowers” on Google and use the additional phrases that appear, then think outside the box for additional flower-related tags that someone might search. Add them all in. And you’re off to the races.

7. Sell plant seeds online
8. Offer your services for pet sitting – This will be heaven for pets and owners will love the idea of their pets frollicking on a farm.
9. Raise chickens and sell their eggs
10. Grow fruit and sell it at farmers markets
11. Grow and sell herbs online or at farmers markets
12. Can and jar things like jellies, jams, preserves, and pickled veggies and eggs
13. Sell chopped, split and bundled firewood
14. Rent out your land maintenance equipment to people at a reasonable rate
15. Regularly sell a variety of produce at local farmers markets. If you’re product is good, you’ll start to grow a loyal local following!

How Can I Buy a Million Dollar House With no Money?

Many real estate investors think that money will make or break a real estate deal. A lack of funds can stop a potential purchaser from bidding on a property. However, it is possible to purchase real estate with no money from the buyer’s pockets. If the deal is right, the funding can easily fall into place.

Although there are many ways an investor can purchase real estate without handing over a down payment at settlement, it’s important to understand the pros and cons of each type of agreement before signing on the dotted line.

Here are some examples of no-money-down real estate deals:

Borrow the Money

Probably the easiest way to purchase a property with no money down is by borrowing the down payment. Either find a lender offering a low interest rate, or use a home equity or other line of credit loan, which will still have the tax benefits of a normal mortgage.

Assume the Existing Mortgage

Some purchasers can use a “subject to” contract, where the buyer uses the seller’s existing financing for part of the purchase price. Using the seller’s existing financing is especially successful if the current loan has a low interest rate.

The buyer receives the title to a property in return for making payments on the seller’s mortgage. Research of the existing loan is imperative, however, in that some loans have a due-on-sale clause, which prohibits the new buyer from assuming the mortgage.

Lease with Option to Buy

Many purchasers do not realize that they may be able to rent a property from the owner with an option to buy. Under the terms of the lease/option agreement, the buyer and seller negotiate a sum to be paid at regular intervals for use of the property. This agreement allows the lessor to purchase the property at a predetermined price during the term of the lease. Usually, a portion, and sometimes all, of the rental payments will be credited toward the purchase price.

Seller Financing

Another easy way to acquire property with no money down is with the help of the seller. For example, a seller may decline a down payment in return for higher monthly payments. Or, the seller may pay for the buyer’s down payment in order to sell the property faster.

Negotiate the Down Payment

Along with everything else in a real estate contract, the amount of the down payment and who pays it is almost always negotiable. A buyer may elect that the seller pay the down payment, or give credit at closing for the buyer’s down payment. A buyer could also request to pay the down payment in installments, whether in monthly installments or as a balloon payment at the end of the year.

Swap Personal Property

Anything you own may be useful as a cash substitute for a no-money-down deal. For example, if the seller is planning to retire, your unused motor home would probably be much more valuable than a cash down payment. Cars, boats, campers, furniture and appliances are all acceptable replacements for a cash down payment.

Exchange Your Skills

A buyer may be able to offer skills instead of cash. Accountants, contractors, mechanics, plumbers, doctors, lawyers, and so on, all have tradable skills that would be useful in lieu of a cash down payment.

Take on a Partner

Finding other cash buyers is another way to purchase a property with no money down. However, this could get messy as other hands get into the deal. To simplify this process, you can organize the deal on a smaller scale by bringing in one or two more people at the most.

In return for their financing, you can promise to take on the responsibilities of putting together the deal and managing the real estate investment. You may also try to work out a similar deal with the current seller.

Take on the Seller’s Debts

If you find a seller who needs cash to pay off other debts, you can offer to assume those debts instead of making a down payment.

Offer a Higher Price or Better Terms

Some owners may be willing to accept a higher price for the property, even if it comes in installments, in lieu of accepting a down payment.

Combine Mortgages

If you already own property, you could combine mortgages in order to provide the seller with cash at closing without using your own money. You could also suggest that the seller place a second mortgage on top of the first and keep the cash, while you, the buyer, assuming both loans.

Exchange Property

If you already own property, you may want to exchange it for another property. You could either exchange the property with a buyer, or use it in combination with a small amount of cash to obtain the property you want.

Research, Research, Research

There are certain buyers that may be more suitable for accepting no money down offers on a property than others. If a property has been on the market for a long time or is being advertised as a must sell, the seller may be more willing to negotiate. In addition, as with any real estate investment, always research the property before completing a sale.

How Can Land Pay For Itself?

Owning land usually takes large amounts of time and resources. If you bought some land – or are thinking about it – you need to know how to make money with your land to offset costs.

Below are several fast ways to make money from your land without having to do much (or any) work yourself.

Host a Billboard

If your vacant land borders a busy road, having a billboard could put a substantial amount of money in your pocket. Advertising companies are always looking for new locations and might be interested in your location. Payments to landowners vary wildly, depending on the size of the sign, current advertising rates, traffic counts, and numerous other factors.

Harvest Timber

Lumber companies are often looking for new locations to harvest wood. Prices paid for timber vary depending on what’s grown and the age of the trees.

To give you one example, thinning a young pine forest (less than 15 years old) can pay about $250 per acre, while harvesting a mature pine forest (more than 35 years old) can pay $2,500 an acre. For more information, contact your state’s Department of Conservation and ask them about selling timber.

Provide Storage

If you have the right to put a structure on your land, you can provide indoor storage. People need a place to store heavy machinery like farm equipment, RVs, and boats – and they’ll pay for it. Just make sure you have the proper insurance for storing valuables on your land.

Open a Campground

If you have vacant land close to hiking or outdoor attractions, you could make some money by opening a campground. Make sure your land has water and some kind of toilet system in place first.

If you are willing to lease or rent it out, there are plenty of ways to make money off your land.

Offer to Rent Your Land as Pasture

If you have a pasture, you can easily rent vacant land for livestock like cattle or horses. Just remember: Animals may cause long-term damage to your land.

Host Bees

If your land is less than ideal for grazing animals, consider renting it out to beekeepers. Beekeepers in certain regions will pay to keep their colonies on your land. The land may be especially desirable if it borders an orchard or has a particular type of flora (like blackberries) which provides a specific flavor and makes honey more marketable.

Lease Land to Hunters

If you own a large tract of land that’s also home to wild game, you could earn a hefty sum by allowing people to hunt on your land. Arrangements vary from situation to situation, but having some accommodations (such as a cabin with running water and electricity) will make it more attractive to prospective hunters. 

Always check the local restrictions for hunting with the local wildlife department. Don’t forget to check whether guests have hunting permits before they arrive.

Allow Farmers to Lease Land

Many landowners with property near farms have had success leasing it to farmers. The farmers will care for the land and harvest crops. All the owner has to do is set up a lease agreement. The larger your plot of land, the more attractive it will be to interested farmers.

Rent Plots to Local Gardeners

Community gardens are becoming increasingly popular. If your land borders residential neighborhoods or apartments, you may have luck renting plots of land to community members for their own personal gardens.

How Many Houses do I Need to Sell to Make 100k?

If you are selling $100,000 houses and paying 40 percent of your commission to your broker you would have to sell over 50 houses a year to gross $100,000 a year. That is a lot of houses to sell, especially for a new agent. If you can increase your average price, you can make much more money. Here is the breakdown of different sales numbers for different price points.

Average sale price     Commission kept     Number of houses needed to make $100,000

$100,000                            $2,500                                                   40

$200,000                           $5,000                                                   20

$300,000                           $7,500                                                    14

$500,000                           $12,500                                                    8

If you can sell higher-priced homes it makes a huge difference in the amount of money you will make. This is why training is so important and learning from others will make you more money. Not only will you make more money with training by selling more houses you should also learn how to sell higher dollar houses. You will also learn how to list houses, which can mean two commission checks on one sale!

If you break down how many houses you have to sell, you would only have to sell 2 houses a month to make close to $100,000 a year gross with an average price of $200,000.

How Much do Realtors Make on Each House Sale?

Real estate agents may not make as much money as you think on each sale. When you are selling a house it seems crazy to pay someone a commission that could be 6$ (all commissions are negotiable but HUD pays 6% to its agents). There are a few things to consider:

• Real estate agents split that commission with another agent most of the time. The listing agent does not get all of it as the buyer’s agent gets paid as well.
• Real estate agents do not usually keep all of their share of the commission. They have to hang their license with a broker and that broker usually takes a percentage (from a small fee of $200 to 50%).
• Real estate agents pay for their own marketing, cars, insurance, education, and get very few if any benefits.
• Real estate agents only get paid if a house sells.

After considering the commissions splits, an agent may make $2,000 to $3,000 on a $100,000 house sale.

Who is The Richest Realtor?

Despite the ongoing Covid-19 pandemic and the delay in workers returning to offices in many cities across the country, America’s real estate barons have gotten wealthier as their prized assets and diversified portfolios recovered from 2020 lows.

Outside of Washington, D.C.—where the sole real estate billionaire residing in the capital, Washington Nationals owner Ted Lerner, is $100 million poorer this year—real estate magnates based in cities ranging from New York and Chicago to Los Angeles and Palm Beach have seen their fortunes grow since the 2020 Forbes 400 list.

Who is the richest realtor?

Donald Bren

Net Worth: $16.2 billion (Up from $15.3 billion in 2020)

Residence: Newport Beach, California

The founder of real estate colossus the Irvine Company retains his spot as the richest real estate billionaire in the U.S. As the owner of Irvine, Bren oversees an empire with more than 126 million square feet of real estate across southern California, much of it in Orange County, as well as more than 560 office buildings—including a 97% stake in Manhattan’s MetLife Building—and 125 apartment complexes.

What is Aaron Kirman Net Worth?

Aaron Kirman is one of the highest-earning Real Estate agents in the world with a massive net worth of $90 million who is currently the President of the International Estates Division at Compass.

He is a real estate agent and investor residing in Los Angeles who also features on CNBC’s Secret Lives of the Super Rich and stars in the real estate reality show Listing Impossible.

Kirman, the president of Aaroe Estates, the luxury property business of the John Aaroe Group, averages $300 million to $400 million in home sales and has around $6 billion in career home sales.

Is Real Estate a Good Career in 2022?

The need for proper settlement that is comfortable and safe has opened up the business of real estate. Real estate has grown over the years into a flourishing business with many career opportunities

As the population increased, the demand for more settlement areas and for comfortable housing kept the real estate business booming. This has caused the establishment of over a billion houses, thereby opening up land spaces where other businesses can thrive profitably.

Yes. Real estate has great career opportunities that are fulfilling and financially rewarding.

How do You Survive Your First Year in Real Estate?

From vacations to barbeques to backyard fun with your kids, it can be easy to get distracted from your career in the summertime. This can be true in the real estate industry, especially if you’re just starting out.

When you’re able to make your own schedule, it can be easy to schedule some down time. Instead of getting off track in your real estate career during one of the hottest times in the market, find success this summer!

Here are 10 ways to survive (and thrive) during your first year in real estate:

1. Expect long hours. As a real estate agent, you will have days where you are working from 8 a.m. until 8 p.m. Frankly, not all prospective buyers are able to go see homes between 9 a.m. and 5 p.m. So, agents must cater to their clients’ schedules – even at the expense of their own! So, expect and embrace long hours.

2. Market. Market. Market. Gone are the days of simply plopping a “For Sale” sign in a client’s yard and taking out an ad in the local newspaper. Those tactics may still work, but they should be coupled with aggressive online advertising and social media marketing. Even if you’re not comfortable sharing your personal life on social media, use it to your advantage to promote your real estate career!

3. Set goals. If you don’t have something to work toward, it can be easy to go astray. Start with some easily-attainable goals like attending at least one networking event a month or increasing your online visibility. Once you reach one goal, you’ll be motivated to set and reach another!

4. Go into the office. But, get used to working anywhere and everywhere, too. Give yourself a place that’s a bit quieter than the kitchen island at home, so that you can get work done when you need to. But, you also may have to get used to checking your email and making some calls from the car or the local coffee shop. You’ve got to be flexible as a real estate agent.

5. Have a back-up plan. Even if you hit the ground running, you may not instantly see profits in real estate. When you first start out, it may be a good idea to keep your current profession or have at least six months of income saved up. Then, you won’t feel stress if you don’t immediately see a profit.

6. Find a support system. When you decide to pursue a career in real estate, choose to do so with a company that will provide you with the support you need. Find an experienced agent to manager to coach you. You also should be able to rely on your company to train you on the latest marketing and outreach tools.

7. Build a network. Not only will you need a support system, but you’ll also want to have a network of trusted professionals you can reach out to. We’re talking about other agents, mortgage lenders, home inspectors, contractors and anyone else who may be able to help you assist your clients. Being able to recommend professionals to help your clients will help you gain their trust!

8. Become a local expert. Once you’ve got your network around you, soak in all the details of the area that surrounds you. Learn the schools, restaurants, parks and even the local crime rate. Remember that your clients not only want to know about the available homes in an area, but they also want to know what kinds of things are available around those homes!

9. Keep learning. The real estate market is constantly changing and evolving, so you’ve got to make sure that you are, too. From new marketing techniques to new ways to communicate with your clients, if you want to continue to advance your career, you’ve got to continue to learn!

10. Stay positive. Barely anyone is an expert in any field from day one. So, when you decide to pursue a career in real estate, don’t expect to be an expert at first. Keeping a positive attitude will help you find success in your first year as a real estate agent and far beyond!

How Long Does it Take to be a Real Estate Agent?

You can become a real estate agent in about four to six months, depending on where you live. Online prelicensing classes can speed up the process.

Getting a real estate license takes time and money, but it can help secure a rewarding job in the real estate industry. Keep in mind that a career as a real estate agent can be as flexible as you want it to be. You can limit your hours to mornings three days a week or never work on weekends. The trade-off, of course, is that this will greatly limit your ability to be successful.

Though you can work part-time as a real estate agent, most successful practitioners treat it as a full-time business, making themselves available to clients throughout the week and on weekends.

What Percentage of Millionaires Are in Real Estate?

Over the last two centuries, about 90 percent of the world’s millionaires have been created by investing in real estate.

For the average investor, real estate offers the best way to develop significant wealth. As with any and all forms of investing, it is best to get started early with real estate so you can put time on your side. A good way to begin is to buy your first primary residence.

Does Real Estate Agents Have a Future?

The short answer is no. Real estate agents are highly unlikely to go the way of the Caspian tiger or Guam flying fox anytime soon. Still, it seems likely that the demand for real estate agents will decline over the next decade. In fact, the writing is already on the wall.

Over the past decade, a number of large real estate companies, including real estate portals, have started to approach homeowners with cash-only offers. In some cases, the companies approach owners who have listed a property. In other cases, they approach owners who haven’t even yet put their property on the market.

While the above scenario isn’t good news for agents, even if the trend continues — and I suspect it will — it seems unlikely to spell the end of agents for two reasons.

First, some sellers are always going to stage their homes. This seems especially likely to persist in the luxury market. While the average suburban family may find it more convenient to accept a cash-only offer and skip the hassle of staging their home and scheduling multiple open houses, this is rarely a major concern for property owners on the luxury side of the market who often are no longer living in their homes by the time they are listed. 

Second, there is the question of trust. For well over a century, Americans have been relying on real estate agents to help them buy and sell properties. Changing consumer habits takes time (e.g., some consumers still feel uncomfortable with digital commerce).

Given the high stakes of buying and selling real estate (it’s the biggest purchase most consumers will ever make), it seems highly likely that many consumers will continue to feel more comfortable working with an agent than closing a deal directly with an investment company.

Is Real Estate a Good 2nd Career?

Part-time is definitely not the norm, but having a second career as an agent is common, according to the NAR member profile. Of members surveyed, only 4 percent reported that real estate was their first career; 16 percent had a previous career in management, business, finance, sales or retail.

Dworshak was 53 when he started in the real estate business. He believes agents are more successful coming into the field with strong business skills. Certain fields lend themselves to being an agent or offer the flexibility to take on real estate as a side job, he said.

Still, most Realtors worked 40 hours a week in 2015, a trend that has continued for several years, according to the NAR report. And the majority of members surveyed reported real estate as their only occupation: 74 percent of all members and progressively more with experience up to 86 percent with 16 years or more in the industry.

For members who work fewer than 40 hours a week, 24 percent reported that real estate was their primary source of household income. That figure increased, too, with years of experience up to 33 percent with 16 years or more in the industry.

Is Real Estate a Dying Industry?

Thousands of individuals have moved into the real estate space in one way or the other since 2008. That includes thousands of real estate investors, a new generation of Realtors (approx. 1 million members), and real estate entrepreneurs launching tech startups.

Read Also: Top 10 US Software Developers Jobs

Yet, after analysis of 700 plus occupations reviewed by Oxford University, it was real estate job security that appeared most likely to waiver due to AI and technological evolution.

Here’s the percentage likelihood these real estate jobs will be automated in the near future:

• 97% Real Estate Brokers
• 99% Telemarketers
• 98% Loan Officers
• 86% Real Estate Sales Agents

NAR started out with just 120 founding members in 1908. As of 2021, it had over 1.4M member agents.

Then add to that how much home buyers and sellers can do without an agent today, even without any new technology coming along, and many may want to take some time out and give some serious thought to their future income options.

Is it Hard to be Successful in Real Estate?

Real estate agents can make a lot of money and have a lot of freedom. That does not mean it is an easy career or that everyone succeeds. It takes hard work, dedication, and perseverance to become a successful real estate agent. To become an agent, you must take classes, pass a test, and find a broker to work for.

Once you get your license, the work is not over. You must learn to sell houses, which they do not teach in real estate school. If you can make it through the licensing process and the first few months, real estate can be a wonderful business to be in.