Many people consider giving up their day job to sell real estate full time.
Getting that first or second sale isn’t that difficult. But what is difficult is working in the real estate business full time.
Here are a few things that will help you decide if it’s a good idea for you to sell real estate full time.
Have A Real Estate Business Plan
Putting together a realistic real estate business plan will help you decide whether or not selling real estate full time is right for you.
When putting your business plan together for your new real estate career, remember that it’s always better to be safe than sorry.
Be overly pessimistic about your projected income and expenses for the first several years. Many business planning experts suggest that after you have what you think is a conservative business plan you should cut the revenues in half and double the expenses!
If You Sell Real Estate Full Time, Treat It Like A Business
Realize that business – just like nature – does not move in a straight line.
One very successful quarter or year doesn’t mean that the trend is your friend. Smart real estate entrepreneurs know that there are always peaks & valleys . . . and some valleys can be deep for a very long time.
Consider Having A Real Estate Business Partner
Some people like having a business partner while others prefer to go it alone. Having a partner or a mentor is one way to achieve a good work/life balance in real estate.
Advantages to having a business partner are the sharing of risk and having access to extra start-up capital.
If you have a real estate business partner, just be sure to clearly define the responsibilities of each person involved. This will help to avoid conflict down the line.