Who doesn’t want to raise their standard of living? No matter how you live, there’s always something more you could be enjoying. Fortunately, real estate provides the avenue to accomplish that goal.
You need income to raise your standard of living
If you want to raise your standard of living, you need to raise your income and/or increase the number of sources from which you derive your income. Real estate happens to be a lucrative source of income and that’s why thousands of women are pursuing careers in real estate.
Many real estate agents find that after passing the learning curve, they’re able to raise their standard of living. If that’s what you desire, here’s how getting your real estate license will help you achieve your goal.
1. Real estate business can be conducted online, which frees your time
Conducting business online is central to your ability to generate income without having to put forth a ton of effort. There’s nothing wrong with effort and hard work, but there’s no reason to exert yourself when it’s not required. Less effort equals more time to pursue profitable opportunities.
Thanks to the COVID-19 pandemic, more businesses – including real estate firms – are conducting business online. This includes organizations that provide real estate licenses to individuals. For instance, RealEstateU offers online real estate licenses, although the requirements vary by state.
You can get your real estate license online and conduct a large portion of business online including:
- Conducting virtual showings prior to in-person showings to weed people out
- Running online marketing and advertising campaigns
- Having prospective home buyers and tenants submit applications online
- Listing homes for sale and for rent online
- Hosting virtual video conferencing meetings with potential buyers
- And more
Leveraging the internet as a real estate agent is a great way to maximize your time, effort, and income compared to other industries.
2. The income potential is vast
Raising your standard of living begins with raising your income. The potential for earning income from real estate is quite large. According to data aggregated by The Balance, the average yearly salary for a real estate agent is $42,183 and the top agents earn an average of $64,101 per year. Some agents earn even more, but they’ve earned the higher income through years of experience, mistakes, and dedication.
While the potential for significant income exists, it’s not guaranteed. If you want to earn high levels of income, you need to put in the time to study and perfect your strategies.
3. You might be inspired to invest in property
After working with sellers and potential buyers for a while, you might be inspired to become an investor yourself.
Being a real estate agent is profitable enough to give your standard of living a boost, but big money comes from investing. If you want to boost your income by $10-$20k per year, being a real estate agent is sufficient.
If you want to level up your living standard even more, you’ll need to become an investor. The difference? As a real estate agent, your commissions are tied to the time and effort you expend. As an investor, your income is tied to the performance of your investments and a minimal amount of effort.
Having just one rental property can provide you with enough income to cover your basic living expenses once the mortgage is paid off. Imagine not having to spend your hard-earned money on rent because you have a tenant paying you rent that is pure profit. After you pay off your rental property’s mortgage, that can be your reality.
Investing in real estate provides multiple sources of income that aren’t limited to increases in property value and rental income. In fact, if you don’t want to own physical property, you can invest in real estate trusts, mortgage-backed securities, and real estate investment groups to generate income.
What are you waiting for? Get your real estate license today
Now that most people are looking for ways to make money without having to sit in an office all day long, more people are getting their real estate license. Don’t wait to get your license until your town is flooded with competition.
Worst case scenario, you get your real estate license and you pursue real estate as a side job rather than a main career. You may find that over time, real estate is more reliable than your main source of income. Either way, you don’t have to be a full-time real estate agent to make enough money to raise your standard of living.