People say that no matter how much you love your job, you’ll struggle and get tired at some point. After all, there is no perfect profession in the world. There are only jobs you like and are passionate about, but that does not mean struggles and challenges are not present.
Every profession comes with its unique set of perks and challenges that vary depending on a person. People in client-facing professions need patience, energy, and understanding to deal with different personalities daily. Real estate agents are one of the people who go through this. They work with different people daily and do their best to meet their needs. It’s undeniably a demanding job that requires you to be pleasant, approachable, and reliable 24/7.
One of the best things about being a real estate agent is the commission they get when selling a property. That’s why agents work hard and do their best to sell their listings to people looking. But even though they get a hefty sum for what they do, there are many challenges they fight daily to be the best agent to attend to their clients’ needs.
In this post, let’s look at some of the challenges they struggle with in their profession.
1 - Dealing with “window shoppers.”
Buying a real estate property is a privilege–and one of the top purchases anyone can make. Real estate property is one of the things that many people worldwide save money and work hard for in their lives. And since it’s a huge purchase, many people are careful and take their time when scouting for one.
Unfortunately, there are also many “window shoppers” in the real estate market. A professional agent would recognise one immediately, but they still have to allot their time and effort to entertain those shoppers regardless. Window shoppers are people who look and inquire about a product without the intention of buying. Sadly, many real estate agents lose potential buyers in entertaining window shoppers.
2 - People telling them how “lucky” and “glamorous” their job is
Many people, especially the ones outside of the industry, assume that being a real estate agent is a glamorous profession. The concept of “commissions” and the large share payouts they hear from others make them believe it’s an easy job. Many don’t realise that real estate agents go through rigorous processes to make a successful sale.
Sure, it’s glamorous receiving a hefty paycheck for what you do. But it feels better to have people recognise and appreciate your hard work and sacrifice instead of assuming you’re lucky. Many real estate agents can undoubtedly attest that hearing people say they’re “lucky” is more of a condescending remark than a compliment.
3 - Meeting their quota
Often, real estate agents who work for a company have quotas to meet. Some don’t have one, but those who do struggle with meeting their target year-ends. Since a real estate property is a massive investment, finding people to buy one immediately is challenging. As I mentioned, selling a real estate property is not a walk in the park.
There are cases when real estate agents don’t meet their quota and have to make up for it in the coming year. That’s why calling them “lucky” is an understatement because their profession does not rely on luck.
4 - Working long hours to look for business prospects
The duties of a real estate agent are not limited to showing clients open houses and negotiating with them. Just like most jobs, they work long hours looking for business prospects. According to research, a real estate agent sells 2 to 10 houses yearly. On average, they sell five properties per year.
Again, selling a real estate property is no walk in the park. They’re lucky if they sell at least one property, especially during low seasons and inflation spikes. Agents need to work long hours to look for business prospects most of their days. The commission may seem flashy, but their daily routine consists of persistence and hard work.
5 - Dealing with difficult clients
Another challenge real estate agents go through is dealing with difficult clients. Aside from “window-shoppers,” many clients are challenging to work with because they have unrealistic expectations about a property, which delays and makes their negotiation process longer than it should be.
Real estate agents must be patient in keeping their composure when dealing with such clients. However, they’re also human, and it’s challenging to stay professional, especially when clients have unrealistic demands.
6 - Unstable income
I mentioned earlier that most real estate agents have quotas to meet yearly. And in most cases, they rely on their commission to bring food to their tables. With an unstable income, it’s difficult for them to predict their finances. Since they only sell a limited number of properties per year, they have to balance and allocate their salary wisely, especially when a commission is not guaranteed.
That’s why assuming real estate agents have it easy is an understatement and disregards their hard work all year.
7 - Maintaining a work-life balance
I mentioned that it takes hard work to make a sale in the real estate market. And most of the time, agents need to work long hours to negotiate not only with their clients but with other people involved in the negotiation process. Hence, maintaining a work-life balance is difficult for them to do.
For agents with children and families, they only get their weekends, and sometimes one day only to spend time with them. There are also many instances when agents need to work during the weekend because most clients are available for oculars during those days.
Being a real estate agent is not as glamorous as it seems to be
Like any profession, being a real estate agent is not glamorous as we think. Agents go through various challenges daily aside from the seven that I shared. But it surely is a rewarding profession, especially if you have the skill set and passion for negotiation and closing deals.
About the author:
Bianca Banda is a writer for Bennett Property, one of the largest and most successful real estate agencies offering a full range of property services, including sales, leasing and development.
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