Is Now a Good Time to Be a Real Estate Agent?

Disclaimer: PropStream doesn’t provide financial or legal advice. We recommend doing your own research before deciding to become a real estate agent.

Is this a good year to become a real estate agent?

Well, that depends on your ability to adapt to a rapidly changing real estate landscape.

On the one hand, U.S. homes are selling for more than nearly ever before, leaving agents with higher potential commissions per home sale (depending on your brokerage's compensation structure), and existing home sales are currently increasing month over month.

On the other hand, existing home sales are still down year over year, and uncertainty around current economic policies is causing some sellers to reconsider listing their homes.

Regardless of what's currently happening in the market, there is never truly an "ideal" time to enter the real estate industry. The reality is, each market comes with its own advantages and challenges. However, understanding the pros and cons specific to the current market is crucial for setting yourself up for success.

There’s plenty to consider when contemplating a career as a real estate agent. Before taking the plunge, let's explore some of the pros and cons:

Earning Potential

Real estate agents work on commission, i.e., instead of earning a steady paycheck, they typically get paid a percentage of each home sale they help facilitate.

Pros

• Working on commission means your earning potential is essentially unlimited. Your income depends entirely on the number of home sales you facilitate and the commission structures that you negotiate.
• Unlike in other careers, you don’t have to work for a certain period before you can expect a raise. You can increase your income anytime by securing more or higher-value deals.

Cons

• The agent commission model doesn’t guarantee income. You could earn little or nothing, especially when you’re just starting. Also, changes regarding buyer commissions may cut into the percentage buyer agents previously made.
• Similarly, agent income can be highly irregular, especially given the housing market’s seasonality and fluctuations. In some months, you may earn more than others.

Flexibility and Independence

Working as a real estate agent offers great flexibility and independence. Most are self-employed, meaning they’re essentially running their own businesses.

Pros

• You can set your own schedule and take time off work for emergencies, family responsibilities, vacations, etc., without getting approval from a supervisor.
• Without a boss telling you what to do, you can work on your own terms: how, when, and where you want.
• You can work part-time. In fact, according to a Placester survey, 22% of real estate agents work fewer than 30 hours weekly.
• You can transition to other real estate careers fairly easily. For example, after mastering work as an agent, you could become a broker, real estate investor, coach, property manager, etc.

Cons

• The lack of an employer who provides structure can be challenging for some. Being your own boss requires self-discipline and time management skills.
• A flexible schedule may lead you to work more. Instead of ending work at a set time every day for a fixed amount, you may be tempted to work longer to earn more money, especially when you're getting your business off the ground.
• You could miss valuable personal or family time if your clients demand to see properties at inconvenient times (e.g., the weekends or evenings).

Networking and Personal Relationships

Real estate is a people business. Between clients and other real estate professionals, you’ll work with many people and form an extensive network.

Pros

• Since the average homeowner only moves about every 13 years or so, your client base will primarily consist of new clients— meaning you can work with various people, bringing new experiences each workday.
• As a real estate agent, you can help clients find and purchase their dream homes. This can be both financially and emotionally rewarding.
• You can build a robust professional network. Real estate agents must work with other agents, mortgage brokers, home inspectors, contractors, etc., allowing you to continuously learn about the industry and its various niches.

Cons

• Working on large home transactions can be stressful (for you and your clients). You must learn to work with different personalities and adapt to various temperaments.
• Building a professional network takes time. At first, you may have few connections and struggle to make your mark in the industry.

Educational Requirements and Training

Becoming a real estate agent requires training and certification. The profession is highly regulated to protect homebuyers and sellers who are making what is often one of the most significant financial decisions of their lives.

Pros

• You don’t need a college degree to become a real estate agent. In most states, anyone 18 or older with a high school diploma or GED can become an agent by getting their real estate license. Check your state’s requirements to learn more.
• These days, there are more online learning opportunities for agents than ever, and many are highly flexible and affordable. For example, PropStream Academy offers free, self-paced online courses on agent marketing, lead generation, and more.

Cons

• Since they are usually self-paced, online agent training programs require you to be self-motivated. If you’re not, getting trained and licensed could take a long time (if you finish). 
• You must understand and keep updated with the latest agent rules and regulations. Otherwise, you could face costly legal challenges and risk license revocation.

Job Security and Economic Stability

While some may assume that real estate isn't a stable career path due to market fluctuations, that isn't entirely true. There are several factors that can make it a secure and stable industry.

Pros

•  People will always need places to live, work, and invest—regardless of economic conditions. This ongoing demand creates steady opportunities for real estate professionals across residential, commercial, and investment sectors. Even in a constrained market, people tend to move as they age, start families, retire, downsize, etc.
• Real estate offers diverse ways to earn, from commissions on sales and rentals to property management, investments, and referral fees. This flexibility can create financial stability even during market fluctuations.
• The skills you develop in real estate—sales, negotiation, marketing, and market analysis—are valuable in any economy. These transferable skills help agents adapt to changing trends and stay relevant long-term.

Cons

• The real estate market is seasonal and subject to market fluctuations. Consequently, your income may be irregular and negatively impacted by downturns. To offset this, you must set aside funds for slow periods.
• For some, the down months can be discouraging. It can be hard to stay motivated when the money isn’t coming in, but it’s crucial to maintain a disciplined work ethic to be successful in the long term.

Technological Advancements

While real estate agents have been around for over a century, recent tech developments are changing how they work.

Pros

• Virtual reality (VR) and augmented reality (AR) can help you create virtual tours and artificially stage homes with virtual furniture. This can save you time physically staging homes and hosting open houses and showings.
• Artificial intelligence (AI) tech can help you digitally enhance property listing photos to reduce the need for professional photo editing.
• You can leverage generative AI tools like ChatGPT to perform marketing outreach quickly and at scale.
• Real estate data platforms (like PropStream) streamline lead generation efforts with detailed information on properties and the ability to niche down and find motivated sellers that make excellent listing leads. Additionally, PropStream's predictive AI datasets allow agents to find opportunities before the competition.

Cons

• While more tech is available for real estate agents than ever, some of it can have a high learning curve. For example, mastering the ins and outs of a new customer relationship management (CRM) software can take time.
• As new tech makes agents more productive, it may also reduce the need for as many agents in the market, increasing competition.

Psst! Don't let the tech learning curve get you down! Enroll in PropStream Academy for free today to learn how you can effectively use PropStream to find leads and land new clients.

Start Your Real Estate Career on the Right Foot With PropStream

So, is now a good time to be a real estate agent? The simple answer is that it can be—if you play your cards right.

If you decide to become a real estate agent after weighing the pros and cons, stack the odds of success in your favor by equipping yourself with the right tools.

PropStream offers agents a database of over 160 million properties nationwide, which you can sort through using 165+ search filters and 20 Lead Lists. Use it to find motivated sellers, accurately price listings by running comparables, skip trace for contact information, and reach out—all on one convenient platform.

Try it for free for 7 days and receive 50 complimentary leads!