Why Should You Consider doing Real Estate Selling Part Time or Full Time?
This Year 2017 is my 3rd year doing Real Estate selling full time. I started to be engaged in Real Estate on Year 2012, the year which I also passed the Real Estate Brokers Exam conducted by PRC and officially became my 2nd profession after becoming a CPA on October 2005. I did real estate part time from year 2012 to 2014 selling mostly Condominiums. During these three (3) year periods, I sold few units of condos and I was tied up to my job back then as an Accountant. For Accountants out there reading this, I know that you can relate to me about the nature of our work. Despite the busy schedule of being an Accountant, I spare my weekends doing real estate and managing our small business. Honestly, my time is devoted more on managing our small business and to my job which in a given year, from last quarter of 2013 to 2014, I was inactive in real estate. I dealt several challenges with our small business and to my job during that period.
The last quarter of 2014 have been the turning point in my life as I finally decided to do Real Estate full time. I have been motivated by my colleagues in real estate who are doing great already in their real estate business so before the year 2014 ends, I also ended my career being employed. I started 2015 doing real estate full time and the first 6 months are the most challenging time of my career as a Real Estate Broker. There is no fixed salary anymore because we get paid on a commission basis based on our actual sales performance. I was not focus on my first six (6) months, wanting to sell different projects from different location (cavite, batangas, rizal, bulacan, metro manila). Imagine how disorganized I was then and luckily, I got my first sale as a full time Real Estate Broker on my 6th month. I ended my year 2015 having sold few units only amounting to P9 Million. Despite that, I continuously persevere and became more focus in 2016. I developed myself more by reading more books (50 books read) to set my mindset for success. I ended the year 2016 with sales over 20Million+(personal sales) at an average receivable of P1million commission and I got 1 full time experienced agent despite me not recruiting agent yet who has contributed few units of sales also.
This year 2017, after 2 years of being a Solopreneur, one of my goals is to look for potential partner real estate agents that are ready to be engaged in Real Estate Selling. As such, I would like to share with you the ten (10) reasons in my opinion, why you should consider Real Estate selling as an additional source of income or take it seriously as your primary source of income.
1.) Huge Market Demand
There is a huge demand in the low cost housing projects. As of 2016, the backlogs for the low cost housing is at 5.7 Million units. The housing production yearly accounts for less than 500,000 units only. If you’ll compute, it will take more than 10 years to cater the backlog without considering the continuous increased in housing demand yearly.
You can read the article here
Low-cost housing backlog swells to 5.7M units
Imagine the huge demand in housing. What if you just only cater thousands of that millions units of backlog and able to convert it to sales? And if you do, it might add millions in the form of commission to your savings. The opportunity is so big that whether you will be engaged or not into real estate, someone will cater these housing needs and someone will be earning more.
As an Accountant myself, I saw that huge opportunity, 5 million units backlogs in housing is about 5 Trillion pesos amount of housing at an average of P1Million cost per unit. That is a huge market out there.
2.) No Capital Required
I considered Real Estate Selling as one of the best business that requires a little or no amount of capital to begin with. You can begin to work just at home. The only cost that you will incur are mostly transportation, meals, internet and communication expense (load & phone bills). Developers have their tripping vehicles for your clients and it’s free. In short, you have the potential to earn more commissions with lower cost. In my case as a Broker, I invested a vehicle to be used in tripping my clients and my agents’ clients. So my agents no longer have to worry about the tripping vehicle.
3.) Learning New Skills (Sales Skills/People Skills)
If it’s your first time to be engaged in Sales, doing real estate will enable you to learn new skills, from marketing, prospecting, negotiating up to closing. As you go along, you will develop communication skills necessary for dealing with clients. Real Estate Selling will enhance your people skills as you will talk and deal with people most of the time. If you are a newbie, you will learn it from the experience of your mentor and from your personal experience through time. To me, this is the most important thing that you can acquire doing real estate, learning the necessary skills to succeed in Sales.
4.) Getting along with Highly Motivated People
People in Sales are the most goal oriented and highly motivated people that I know. Salespeople are driven by the desire to succeed financially. The good thing about mingling with Salespeople is that you can learn from their mindset, how they act and think. As they say, “Birds of the same feather, flock together”, this is true as well to people. As you associate yourself more with Big Dreamers and Highly motivated people, you will somewhat acquire their habits and mindset later on, that is necessary to achieve your own success.
I’ve experienced myself the value of a Mentor/Coach. If in sports, a team needs a Coach, it is same with business. In real estate, you will be mentored/trained by your Broker or Team Head. They will train you to develop the necessary skills in order for you to succeed. If you master the skills in selling, you will be successful. Your success is also their success.
6.) Unlimited Potential Income
In real estate, you’ll be selling properties valued at millions. If your average commission is 3%, and you’re selling a house with an average price of 1Million, then your potential Gross commission (before tax) per unit sold will be P30,000 (P1million x 3%). If you sell more in a given month, then you will earn more. The earnings will depend on you. But you need to be reminded that this is potential only until you make it happen. At first, you need to learn the industry and the skills to make it work.
7.) Time Freedom
One of the advantages of having your own business is you control your own time. Having my own time freedom is one of the reasons that I decided to be engaged in real estate. As a Father and a Husband, at my age, being in my early 30s, family is more important to me now. If I’m still working as an Accountant, I would be going to office for work when my daughter is still sleeping and I will be going home when my daughter is already asleep. As of now, I work most of the time at home, doing marketing online. I can see and spend time with my daughter during my relax time or whenever I feel that she needed my care. I’m only out of the house, during tripping schedule of my clients.
As you gained experience in Real Estate, you’ll be able to lead people when your team is already growing. At the start, you need to learn the necessary discipline to lead yourself first. Once you instill the discipline to yourself, you’ll be able to lead other people also to their success.
9.) Awards and Recognition
In real estate, you’ll be rewarded by the sales you’ve delivered. Developers acknowledge the Top Salespeople yearly. When you performed well, you’ll be earning more commissions and will be rewarded by more incentives and awards. Some in the form of travel and others in the form of cash incentive. Awards and recognition keep the Salespeople stay motivated with their careers.
10.) Engaging in Real Estate is same with having your own business
If you’re planning to start your own business, engaging in real estate is the best experience you can acquire before going into a traditional business. To me, real estate is one of the best business wherein the cost of doing it is so low as compared to starting a traditional business. In real estate, you’ll get the highest reward through commission at a very minimal cost. If you will start a traditional business, you need to rent an office or commercial space, hire employees, buy your inventories, pay for your utilities, permits & licenses and so many others. In real estate selling, you don’t have to think of these kind of expenses.
These are the Top 10 reasons that I think can make you consider real estate selling as your additional source of income or a new career that you can focus into.
Now, If you think this make sense and you want to take action, you can join my growing team if you are:
1.) at least 2 years college graduate (the minimum required qualifications to be accredited in PRC under a Licensed Real Estate Broker
2.) Big Dreamer and Highly motivated
Note: You can do it part time or full time, with or without experience in Real Estate
If you’re ready for this, you can contact me at 0922.879.7968/0926.882.7912
Ralf Roger C. Tagao
Certified Public Accountant
Licensed Real Estate Broker