The Life of a Real Estate Agent
Introduction
Hi everyone, I'm Winnie. Real estate agents often have a busy schedule, and weekends are no exception. Our work involves showing clients properties, and we don't have fixed working hours or a specific office location. In this article, I'll share my experiences as a real estate agent, including the challenges, rewards, and daily tasks.
Commission and Income
One of the common misconceptions about real estate agents is that they earn a lot of money easily. However, the reality is quite different. Our commission is not paid immediately after a sale. There are various factors that can affect our income, such as the type of property, the agency's commission structure, and the client's circumstances.
For example, if a client buys a property for RM500,000, the 2% commission would be RM10,000. But we have to pay 8% Sales and Service Tax (SST) on that amount. So, after deducting the SST, we may only receive RM9,259. Some agencies have a tiering system, where experienced agents may receive 80-90% of the total commission. In this case, the agent would only get RM7,407.
Moreover, not all sales are guaranteed. There are many reasons why a sale may fall through, such as the client changing their mind, the loan being rejected, or the property not meeting the client's expectations. In these situations, we may not receive any commission, even if we have put in a lot of effort.
Work Challenges
Another aspect of being a real estate agent is the challenges we face. We have to deal with different types of clients, some of whom may be difficult to work with. For example, some clients may be very demanding or may try to negotiate a lower price. We also have to compete with other agents in a crowded market.
In addition, the real estate market is constantly changing, and we have to stay updated with the latest trends and regulations. We also have to be able to handle rejection and disappointment, as not every sale will be successful.
Daily Tasks
Despite the challenges, there are also many rewarding aspects of being a real estate agent. One of the most fulfilling parts of my job is helping clients find their dream home or investment property. I also enjoy the flexibility and freedom that comes with being self-employed.
On a typical day, I may start by checking my emails and phone messages. I then schedule appointments with clients to show them properties. During the appointment, I will provide them with information about the property, answer their questions, and help them make an informed decision.
After the appointment, I may need to follow up with the client, prepare paperwork, or market the property. I may also need to attend training sessions or meetings to keep up with the latest industry trends and regulations.
Conclusion
In conclusion, being a real estate agent is not an easy job, but it can be very rewarding. It requires hard work, dedication, and a positive attitude. If you are considering a career in real estate, I encourage you to do your research and talk to other agents to get a better understanding of the industry. With the right mindset and skills, you can succeed in this field.