4 Reasons Why Changing Careers to Real Estate Is a Great Option For Retirees
If you’re a senior or retiree looking to get into real estate, you may be thinking it’s too late to start a new career. Well, you’ll be happy to know that it’s never too late. In this guide, we’ll answer any questions you have about real estate as a second career, including What are the Benefits?, Can you be successful? , and What are the steps to becoming a licensed agent?
There are a variety of benefits to starting a real estate career later in life, and here’s why:
- Flexibility: Being a real estate agent allows you the flexibility to work when it’s convenient for you and your schedule. Since you generally host open houses on the weekends, you can keep your weekdays open for other activities and family time, or you can do showings during the weekdays, and reserve weekends for leisure time. You can also work full-time, part-time, or use real estate as a side hustle and make connections.
- Unlimited Earning Potential: While how much you make as a real estate agent will depend on where you live as well as how much effort you put into your business, you can make a great salary. On average, real estate agents in the U.S. can make $83,000 a year and upwards.
- Easy To Get Started: Although you’ll need a license and some training to become a real estate agent, there is a low barrier to entry. At Sea Coast Academy, you can get your license fully online in as little as 3 months, which is a fraction of the time it takes to obtain a college degree, and you don’t need any special qualifications to become a real estate agent. It doesn’t cost much to obtain your license, and you will recoup the initial start-up cost in one home sale.
- Put Senior Homebuyers More at Ease: Senior homebuyers may feel more comfortable with a real estate agent their own age. You can obtain a special certification from the National Association of REALTORS® (NAR) to specialize in buying and selling real estate for seniors. You can also offer personalized knowledge and perspectives that senior homebuyers may have. For example, you can help seniors find a home with the necessary modifications or accommodations for comfortable living.
- Stay Physically and Mentally Fit: Being busy with tasks, from working with clients to showing homes, you’ll keep your mind occupied. Also, since house showings require plenty of physical activity, you’ll stay physically fit too.
1. Professional Skills That Transfer To Real Estate
Years of professional experience, strong networking skills and communication, and knowledge of the real estate market may be skills you’ve already developed over the years. Real estate as an industry is excellent at making use of any previous skills you’ve built up, no matter what the previous career vertical you worked in.
Having years of professional experience under your belt also helps prepare you for a career in real estate. For example, if you have a background in customer service or a customer-facing role, then you’ll be equipped to deal with clients and take care of their needs. Or you’ve worked in sales before, and you gained experience with being independent, sourcing leads, cold calling, and making sales. No matter your background, it’s likely that the type of skills you’ve learned previously can be transferred to real estate.
2. Good Communication Skills
As a senior with plenty of life experience, you’ve likely learned how to communicate well. Whether with your family, friends, or colleagues, your strong suit is most likely face-to-face communication and you understand the value of communication as a whole. Communication is an essential skill to becoming successful in a real estate career because you communicate with your clients about various topics.
3. Strong Connections & Network
Throughout your lifetime it’s likely you’ve established strong connections with people through various interactions. If so, then you already have a solid network of people to provide or refer your services to. You’ll want to create a strong network of people in a variety of industries, such as contractors, lenders, accountants, property managers, and other real estate agents. Having relationships with certain professionals and small business owners can help grow your pipeline of leads and increase word-of-mouth referrals.
4. Knowledge About the Market
During your life, you have gained extensive knowledge about the real estate market. You’ve likely owned your fair share of homes, and have experienced the ebbs and flows of interest rates and other crucial market factors. This will be a valuable skill to transfer to your new career path as a real estate agent.
How to Get Started as a Real Estate Agent with Sea Coast Real Estate Academy
If you’re seriously looking for a second career, follow these steps below to become a licensed real estate agent in the state of North Carolina:
- Enroll in and complete your Pre-Licensing coursework. The North Carolina Broker Prelicensing Course is your first step to a career in real estate! It includes 75 hours of instruction in basic real estate principles and practices. Please see our Frequently Asked Questions Page for more information. Successful completion of this course will prepare you for the NC brokers exam.
- Register for your state’s licensing exam. Schedule, register, and pay for your exam.
- Study for the state real estate exam. The NC State real estate exam will cover real estate laws. View our exam prep and video library to help you pass the state real estate exam.
- Take and pass your state’s real estate exam. Expect to answer between 120 and 150 multiple-choice questions. Be prepared to face topics and subject matter you learned through your Pre-Licensing coursework.
- Complete your Post-Licensing real estate education courses. Depending on your state, you may have to complete Post-Licensing education. Post-Licensing is usually a one-time education requirement after obtaining your real estate license. However, each year you are required to take a CE to retain your license.
- Choose a real estate broker or brokerage. After getting your real estate license, find a real estate broker. But first, understand the difference between a real estate agent and a real estate broker. A real estate agent is a licensed professional who can conduct real estate transactions on behalf of a real estate broker. A real estate broker, on the other hand, can operate independently under their broker license. Therefore, as a real estate agent, you must hang your license under a broker and share a percentage of your commission with them.
- Connect with like-minded people. Join real estate groups and find a mentor. Doing so will help you navigate the world of real estate, learn the ropes sooner, and connect with others in the real estate industry.
- Get started with your real estate career. Now that you have everything you need to jumpstart your real estate career as a new agent, get out there and start selling property!
Remember, it’s never too late to start a career in real estate. If you’re tired of the retiree life, or you’re ready to leave your first career, real estate can be a great option. Contact us today to get kickstart your new career!