Biggest Real Estate Industry Myths, Debunked! Plus, How to Start a Career in this Lucrative Field
Not many fresh graduates would consider real estate as their first career choice since this industry was branded as unstructured and nontraditional. Thanks to the Real Estate Regulation and Development Act of 2016, this perception is slowly evolving, putting the spotlight into how lucrative this line of work can be for anyone who wants to try.
Just like many industries, the real estate sector also promises career growth. Although there is already a transformation happening, there are still persistent myths about this.
Exclusive for Extroverts
People often think that only extroverts will make it big in this business but that’s not true. It is not a key criterion because what this job requires is persuasiveness and fluency in communication.
Generally, communication skills are required in the sales business. However, ambiverts and introverts are more than welcome in the real estate game.
Broker Is the Only Profitable Job
While being a broker does give you the advantage of commissions, bear in mind that this isn’t the only profitable work in the real estate sector. Some corporate jobs like architects, designers, project engineers, and facility managers earn big – sometimes even bigger than a broker.
Many people understand that starting as a developer in this industry is close to impossible. However, it’s not the sole option if you are just at the beginning of your real estate journey.
Under different specializations in this sector, there is a hierarchy, contrary to common perception. Plus, not all real estate workers come through a lineage. More often than not, finance, interiors, marketing, finance, and engineering are some of the roles that require expertise.
There are a lot of big companies that hire individuals to run real estate businesses even though they don’t come from famous families in the sector. In fact, some prefer those that don’t have a background in this field.
How to Start a Career in Real Estate
First, pick a specific segment in real estate. If you’re keeping up with the trends, then you can use this to your advantage when understanding the housing needs of the consumers.
Moreover, the taste and preferences of people are constantly evolving, so knowing different lifestyle trends will definitely help you. The main categories in real estate are coworking, commercial, coliving, and residential.
Next, you can learn from the pros. In this field, there are many laudable hustlers who have figured out how real estate works. Seek unbiased opinions from those who have succeeded in this path you are just treading. Their insights are definitely valuable for someone who is just starting].
You also have to learn about the ins and outs of the craft. Remember, this is a big investment and people worked hard for their money. Being careless about licensing and regulations can cost your clients their fortune.
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