{"id":635,"date":"2016-03-09T01:37:12","date_gmt":"2016-03-09T01:37:12","guid":{"rendered":"https:\/\/default.houzez.co\/?p=635"},"modified":"2023-03-27T02:14:20","modified_gmt":"2023-03-27T02:14:20","slug":"learn-the-truth-about-real-estate-industry","status":"publish","type":"post","link":"https:\/\/silvaflux.com\/silvagrealty\/2016\/03\/09\/learn-the-truth-about-real-estate-industry\/","title":{"rendered":"Learn The Truth About Real Estate Industry"},"content":{"rendered":"

Learn The Truth About Real Estate Industry<\/a><\/h4>\n

1. Real Estate Professionals Get Rich Quickly<\/p>\n

Most think this is a get-rich-quick profession, and they are disappointed when they discover that is not the case.<\/p>\n

Being a real estate agent means you are putting the needs of your clients ahead of your own needs,<\/p>\n

and this means your income needs as well. And sometimes this is challenging,<\/p>\n

if you enter the profession undercapitalized. \u2013 Michelle Ames, HorsePower Team Texas\/Independent Realty<\/p>\n

2. The Industry Is Only Brick And Mortar<\/p>\n

People often think about real estate as only a brick-and-mortar business.<\/p>\n

But the industry today presents enormous opportunities in services, technology and hospitality in the built<\/p>\n

environment for incoming professionals, all of which are evolving at a rapid rate to meet the changing<\/p>\n

preferences of people today. \u2013 Christopher Kelly, Convene<\/p>\n

3. Paying Rent Is Like Throwing Money Away<\/p>\n

Owning your home is a financial liability, it takes money out of your pocket every month.<\/p>\n

Rent is not \u201cthrowing money away.\u201d When you fly, renting your seat for $500 is not \u201cthrowing money away.<\/p>\n

\u201d Renting often makes more sense. Before buying, add up closing costs, maintenance, opportunity cost,<\/p>\n

immobility, hardware store trip time and more. Run the numbers that sales agents don\u2019t want you to run.<\/p>\n

\u2013 Keith Weinhold, Get Rich Education<\/p>\n

4. Getting Clients And Steady Income Is Easy<\/h4>\n

Having a steady stream of clients will be the most difficult part of job.<\/p>\n

An agent\u2019s real job is actually not just selling homes, but marketing themselves and answering the question,<\/p>\n

\u201cWhy should someone choose YOU out of all other agents in town?<\/p>\n

\u201d Only when you have a clear answer to that question and you are able to communicate it in your marketing<\/p>\n

will having a steady income be easy. \u2013 Jennifer Myers, Agent Grad School and Dwell Residential Brokerage<\/p>\n

5. New Agents Don\u2019t Have The Know-How<\/p>\n

Being a new agent, people say you don\u2019t have experience and know-how. Being new doesn\u2019t mean that.<\/p>\n

In fact, it might mean that you give better customer service,<\/p>\n

you are more of a go-getter, you educate yourself faster and learn faster because you are driven and have a purpose.<\/p>\n

The truth is that when you are new, you try much harder just to prove yourself, to others and to yourself.<\/p>\n

\u2013 Kevin Taylor, Sand to City Real Estate Team<\/p>\n

6. The Market Will Go Up Forever<\/p>\n

Real estate is cyclical. And it\u2019s also seasonal. When the market\u2019s good, it\u2019s really good.<\/p>\n

When it\u2019s bad, it\u2019s really bad. And it\u2019s slow in Q1 and Q3, and hot in Q2 and Q4. Always.<\/p>\n

Things happen slowly in real estate, like turning a battleship, and it can feel awesome when it\u2019s actually terrible,<\/p>\n

and feel terrible when it\u2019s actually doing great. \u2013 Michael Harris, CREModels<\/p>\n

7. Reality TV Shows It Like It Is<\/p>\n

Reality TV shows about prolific agents, mega listings, limps and celebrities are not the norm in reality.<\/p>\n

While these shows have raised the profile of the real estate industry, they also project a false narrative.<\/p>\n

Agents with stars in their eyes should understand that success comes from old-fashioned hard work,<\/p>\n

maintaining crazy hours, and dealing with some very demanding clients. \u2013 Elizabeth Ann Stribling-Kivlan, stribling.com<\/p>\n

8. Being A Landlord Is A Full-Time Job<\/h4>\n

A common myth is that investing in real estate is all-consuming. This used to be true, but it isn\u2019t anymore.<\/p>\n

Landlord tasks that used to be time-intensive \u2014 collecting rent, handling maintenance,<\/p>\n

finding and screening tenants \u2014 can be handled with software.<\/p>\n

Owning and managing a property can be done in your spare time, allowing you to also hold a full- or part-time job.<\/p>\n

\u2013 Ryan Coon, Rentalutions<\/p>\n

9. There Is Only One Way To Get Started<\/p>\n

Most believe that the only way to get started is to join a traditional real estate brokerage and work<\/p>\n

for commissions as an independent contractor. There are companies out there that do things differently,<\/p>\n

all while enabling agents to put the client first. \u2013 Joshua Hunt, TRELORA<\/p>\n

10. Flipping Houses Is How You Build Wealth<\/p>\n

Makes for good TV, but renting houses is how you build wealth. Flipping holds more risk and less return,<\/p>\n

in most cases, than holding assets for the long term. As a landlord, your tenant goes to work to pay your mortgage.<\/p>\n

Ever heard someone say, \u201cSold that house 20 years ago. Wish I never had\u201d?<\/p>\n

You don\u2019t hear the opposite near as much, do you? \u2013 Mark Bloom, NetWorth Realty<\/p>\n

11. A Non-Traditional Schedule Means You Work Less<\/p>\n

New agents have a common misconception that being a real estate agent is all about looking the part,<\/p>\n

and often mistake flexibility with being part time. While being a real estate agent is not a nine-to-five job,<\/p>\n

you need to work extra and non-traditional hours to build your business.<\/p>\n

To be successful, you\u2019ve got to put in the time and the work, have unwavering drive and full accountability.<\/p>\n

\u2013 Anthony Hitt, Engel & V\u00f6lkers Americas<\/p>\n

12. Investing In Real Estate Is A Passive Income<\/p>\n

People think of investing in buy-and-hold real estate as passive income. If you want to be successful,<\/p>\n

it\u2019s important you prepare for deadlines and, at times, long hours. Between the cycle of rent collections and local inspections,<\/p>\n

you need to be well organized or you risk losing a lot of money. While the term<\/p>\n

\u201cpassive rental\u201d might indicate you don\u2019t report 9 a.m.-4 p.m., you will need to be prepared.<\/p>\n

\u2013 Linda Liberatore, Secure Pay One \u2013 My Landlord Helper<\/p>\n

13. Location Is All That Matters<\/h4>\n

It is not always true that \u201cif you build it, they will come\u201d or that it is only about \u201clocation, location, location.<\/p>\n

\u201d These concepts hold true only when they play a role in the larger scheme of investment parameters (supply and demand,<\/p>\n

quality, tenancy, location, etc.). Whatever your type of investment, always remember timing and market are as important as<\/p>\n

location. \u2013 Juan Zaragoza, Exan Capital LLC<\/p>\n

14. You Can Become An Expert Overnight<\/p>\n

There is a large misconception behind how much time it takes to learn everything you need to know in the world of real estate.<\/p>\n

As licensed professions go, it is one of the least time intensive. However, the classes you take are only the beginning.<\/p>\n

Whether you are a real estate agent or a property manager,<\/p>\n

licensing requirements are a small fraction of what you will need to know to be successful. \u2013 Sarnen Steinbarth, TurboTenant<\/p>\n","protected":false},"excerpt":{"rendered":"

Learn The Truth About Real Estate Industry 1. Real Estate Professionals Get Rich Quickly Most think this is a get-rich-quick profession, and they are disappointed when they discover that is not the case. Being a real estate agent means you are putting the needs of your clients ahead of your own needs, and this means […]<\/p>\n","protected":false},"author":1,"featured_media":18330,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[6,7,8,9,10,11],"class_list":["post-635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-construction","tag-apartment","tag-business-development","tag-house-for-families","tag-houzez","tag-luxury","tag-real-estate"],"aioseo_notices":[],"yoast_head":"\nLearn The Truth About Real Estate Industry - Real Estate Investment Company<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/silvaflux.com\/silvagrealty\/2016\/03\/09\/learn-the-truth-about-real-estate-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Learn The Truth About Real Estate Industry - Real Estate Investment Company\" \/>\n<meta property=\"og:description\" content=\"Learn The Truth About Real Estate Industry 1. 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