Key Tips for Career Switchers Thinking About Real Estate

Most Real Estate Agents Started in Other Careers

Switching careers can be daunting, but if you’re considering transitioning to real estate as your second or even third career, you’re in good company.

Many agents enter real estate later in life, leveraging skills and experiences from previous careers that make them stand out in the industry. According to a March 2021 report from the National Association of REALTORS®:

• Among commercial agents, 34% said real estate was their first career, 37% said it was their second, and 29% said it was their third career or more.
• Among residential agents, only 17% said real estate was their first career, 49% said it was their second, and 34% said it was their third career or beyond.

Jessica Stone’s Journey into Real Estate

Jessica Stone, an agent from Charleston, South Carolina, switched to real estate after being laid off from her job in education. Her inspiration came from her cousin, an agent, who helped her and her husband buy their first home.

After losing her job, Stone considered exploring a different career path, and with encouragement from her cousin, she decided to take a leap of faith into real estate. Reflecting on the experience, Stone said, “If I hadn’t been laid off, I’m not sure I would have made the change, but sometimes good things come from difficult situations.”

Tips for Launching a Career in Real Estate

Switching to real estate, especially in a challenging market, can be rewarding but comes with its hurdles. Stone shared three tips for those considering a career change:

1. Plan for Initial Expenses
   Prepare financially for the costs associated with licensing, education, and the early stages of building your client base. Stone advises, “Be ready to dip into your savings or work a side hustle as you start. It’s an investment in yourself and your future.”

2. Connect with Other New Agents
   While mentors with experience are invaluable, networking with other new agents can provide support and camaraderie as you navigate the early stages of your career.

3. Research Your Brokerage
   Choose a supportive brokerage that offers training, guidance on contracts, and readily available support for new agents. A responsive and attentive Broker can be crucial, especially during those first few transactions.

Considering a Career in Real Estate?

Switching to real estate can be a fulfilling new chapter, allowing you to be your own boss, leverage your existing skills, and build a career centered around helping others. If you’re thinking about making the leap, do your research, plan financially, and connect with others who’ve made similar transitions to set yourself up for success.