If you’ve been considering a move into real estate but think you might be too old, here’s some good news! Plenty of successful agents didn’t start out in their 20s or even 30s. In fact, most real estate professionals enter the business as a midlife career change.
According to the National Association of Realtors, the average real estate professional is in their mid-50s. And only 5% of Realtors came to real estate as their first career. If you’re considering a midlife career change or reentering the workforce after retirement, you won’t be alone in the real estate industry.
Risks and Rewards
As with any career path, there will be challenges. Real estate isn’t the best choice if you want to make a lot of money fast. Most agents will tell you that the first year or two will be tough as you build your portfolio.
It’s a good idea to have a solid nest egg–or even a secondary stream of income–if you decide to make the leap into real estate.
Versatility Is Key
Real estate agents wear a lot of hats, and that can be a good thing for people making a midlife career change. Chances are you’ve worked a variety of jobs during your life. Many of the skills you learned along the way can help you in the world of real estate.
Customer service skills are always a plus, but other, more specialized experience can be surprisingly useful. For example, a former florist could create arrangements for her clients, or an agent with a radio broadcasting background could start a real estate podcast. Get creative!
Perseverance and Patience
If you can stick it out through the bumpy first stage of your new real estate career, things will get better–and more lucrative. But first, you’re going to need to work long hours and learn to stay positive in the face of rejection and frustration.
For people making a midlife career change, this can actually be easier than for agents in their 20s. As we get older, we often gain more wisdom and a greater sense of perspective. Use that to keep going in times when other people might give up.
