From the outside looking in, the responsibilities of a real estate agent appear relatively simple. Agents provide guidance to sellers and buyers and assist them in marketing or purchasing property as they negotiate prices and terms.
But this is only a superficial view of the profession, and its reality can prove far more complicated.
Many young professionals choose to pursue their license only to find the industry isn’t what they expected. Their studies haven’t prepared them for the trials and tribulations of real estate, the challenge of persuading buyers and forming relationships with sellers, the cost of leads and the rarity of referrals.
If you’re feeling the pressure build and build, don’t give up on the industry entirely. The dedication and commitment that earned you your license can take you other places, and traditional real estate isn’t the only avenue when considering career opportunities. You have other options.
What other options exist?
Below are six real estate-related options you should consider before quitting the industry altogether.
1. Government jobs
When searching for alternative careers, you’ll find that a government position is well within your capacity. These jobs are a stable way to earn a set income and gain experience. And given time, you’ll enjoy opportunities for advancement. What do some of these positions entail?
Real estate agents will engage in realty-related tasks like purchasing new properties, selling surplus properties and obtaining easements.
2. Consultation roles
Agents and Realtors with more experience in their field should consider a consultation role for a change of pace. After you’ve acquired your Consumer-Certified Real Estate Consultant qualification, you can then assist investors in planning and managing their property portfolio.
While consultation appeals to those who want to make use of their education, they often have to supplement their income with another job.
3. Business brokerage
A business brokering firm or company affords agents flexibility in their career. Brokers can choose to work in technology, healthcare, engineering or education, and the list of industries open to them doesn’t end there. Positions in transportation, construction and manufacturing are also available.
Real estate professionals who are interested in variety should look at brokering firms and companies as a way to explore their options.
4. Property management
Residential and commercial properties require management, and those in real estate already have some of the skills necessary for this career path. Should you take this path, you’ll deal with marketing and interact with tenants, which will exercise your communication skills, but you should also prepare to handle other responsibilities.
A property manager also needs to address maintenance and repair issues, collect rent and enforce evictions, which can sometimes prove challenging.
5. Foreclosure bidding
When a property faces foreclosure, it moves to trustee sale where any bidder can buy it if they offer more than the minimum bid. As a foreclosure bidder, agents learn which properties are coming to sale and bid on behalf of investors, securing a fee for their services.
It often requires special licensing, but those in real estate who are searching for another job could see the benefits in this role.
6. Sales assistant positions
Many young real estate agents feel like their negotiation skills need improvement. As a brief detour in your career path, you can pursue a position as a sales assistant at a new home community and learn from more experienced professionals as you work toward developing your own abilities.
After you’ve bolstered your confidence, as a sales assistant, you can always re-enter traditional real estate if you so choose.
Explore what’s available
There’s a reason you chose to become a real estate agent. Try to go back to this reason when feeling discouraged, and try to remember what drew you to the industry when exploring other options.
The hard work you put into getting your license doesn’t have to amount to nothing, and if you put a little further research into these options, you’ll find you aren’t as limited in choices as you might feel.
From government jobs and consultation roles to business brokerage and foreclosure bidding, you have alternatives. Before you quit the real estate industry altogether, explore what’s available. It can only make your situation better.
Kayla Matthews covers smart technology and future trends for websites like VentureBeat, Curbed and Motherboard. You can read more posts by Kayla on her personal tech blog: Productivity Bytes.