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What are 5 NEGATIVE things about being a real estate agent?
Dec 11, 2024
Welcome to "Realtor Reality", where we dive deep into the world of real estate to uncover the genuine experiences, challenges, and triumphs of the industry. 🏠✨ In this episode: Work-Life Balance in Realty: Discover the intricacies of balancing personal and professional lives in this high-paced career. Starting Strong: Understand the importance of financial preparedness as you venture into real estate, ensuring you're set up for success from day one. Navigating Challenges: Learn about the hurdles every new realtor faces, from payment delays to building a steady clientele, and how to overcome them. Limitless Possibilities: Get inspired by the boundless financial opportunities and the joy of helping clients make significant life decisions. Exclusive Interview: We're honored to have the phenomenal Georgie Smigel with us, a 7-figure realtor with an incredible journey and invaluable advice. Listen as she shares her insights, strategies, and the secrets behind her thriving team of 15. If you're considering a career in real estate or are a budding realtor looking for guidance, this video is a treasure trove of firsthand experiences and expert advice. So, hit that subscribe button and ring the bell 🔔 for more real insights into the world of realty! Remember to leave a 👍 if you found this helpful, and drop your questions and thoughts in the comments below. We love hearing from our community! Timestamps 0:00 Introduction 2:05 The Truth about Job Flexibility 2:55 Average Real Estate Salary 5:20 Persistence Pays 6:30 Advice from Georgie Smigel, a 7-figure realtor
View Video Transcript
0:00
okay guys we just finished recording
0:02
this video and let me tell you you want
0:04
to watch it it's truly awesome his mom
0:06
best realtor in Western Pennsylvania we
0:09
just caught her off the cuff gave us
0:11
some serious knowledge pros and cons
0:12
about the industry and it's something
0:14
you don't want to miss yeah we name this
0:16
video what you shouldn't you know why
0:18
you might not want to be a realtor but
0:20
she talked about pros and cons so now we
0:21
probably have to think of a new uh title
0:23
for it but seriously it's gonna blow
0:26
your mind it's gonna blow your mind
0:27
watch the whole thing hi this is Leo I'm
0:29
Diane and today we're actually talking
0:31
about five reasons why you might not
0:33
want to get your real estate exam very
0:34
different from what we're usually
0:36
talking about because obviously we help
0:37
you prepare to get your real estate
0:38
license but not all jobs are all
0:41
sunshine and butterflies some have some
0:44
fun so that's what we're here to share
0:46
with you today the reason why we're
0:48
laughing there is because one of us is
0:49
an idiot and I was like Guns and Roses
0:53
yeah I know I know but anyways
0:57
um so there are a lot of benefits to
0:59
being a realtor so and most of the time
1:01
people think about the money and the
1:03
flexibility I mean when you were
1:04
studying for years yeah I remember I was
1:07
like what can I do that will allow me to
1:10
have free time make my own schedule but
1:13
still make a good amount of money and
1:15
that was let's be a realtor yeah and
1:17
there's a lot of top region rated agents
1:20
that make over six and seven figures in
1:22
fact we're going to interview one of
1:23
them today I'm going to call up my mom
1:25
without her knowing
1:27
um and it's gonna be great yeah and see
1:29
what she these things are some of the
1:30
drawbacks of being a realtor are but you
1:33
know from watching her
1:35
um you know there's it's hard to make a
1:38
lot of money and also have a lot of
1:39
flexibility she I mean I will be at
1:43
family dinner on Sunday nights and we're
1:46
lucky if she's sitting there with us for
1:48
like more than five minutes my phone's
1:49
ringing my phone's ringing I gotta take
1:51
this call so it's an exception and she
1:54
has PTSD about mold right if like we've
1:57
heard about mold like so that's the
1:59
challenge right because if you think
2:00
about when people are trying to buy a
2:03
house it's usually when other people
2:04
aren't working they're not at their jobs
2:06
right so my mom is working during the
2:08
day and during the evenings because
2:11
that's when so whenever I said
2:14
kind of like on your own schedule you're
2:16
kind of really not because your clients
2:19
like you just mentioned when they're
2:21
free that's when you go yeah but to be
2:24
fair I mean that's because that's the
2:26
path that she chose right she wanted to
2:27
become a high earner and she has a team
2:30
of roughly 15 people now so she's got a
2:33
lot of people that report to her and all
2:34
that so she took that path and has a
2:36
little bit less flexibility growing up
2:39
it's interesting because you know my
2:41
friends were mom was in real estate too
2:43
and they chose the opposite route it was
2:45
more of a lifestyle business and you
2:47
know they they made pretty good money so
2:49
just to kind of give you some
2:50
expectations the average real estate
2:54
agent makes roughly sixty thousand fifty
2:56
to sixty thousand dollars uh the lower
2:58
10 percent makes 30 and then you have
3:00
your top like two percent that can make
3:02
a ton of money and everything in between
3:03
so it's really what do you want do you
3:06
want the flexibility or do you want the
3:09
money right it comes down to dedication
3:11
yeah and the other thing too that I
3:14
think is a big misconception is that you
3:17
know maybe you'll be able to go out
3:18
there and make a ton of money right away
3:20
but what is so uh impactful and with my
3:24
mom's business is she has so many
3:25
returning customers I mean you know how
3:28
many houses she sells a year when you
3:30
speak on that thank you I mean I didn't
3:31
believe it when she told me Davis years
3:34
ago but
3:35
it's around 300 and like 68 to 70 houses
3:39
in a year when we all know there's only
3:41
365 days in a year so you do the math so
3:44
so think about that so think about that
3:46
when you you know get to that upper
3:48
level imagine all of those people that
3:50
you're dealing with it contracts you're
3:52
writing I mean it's more than one a day
3:53
and if you think about that I mean
3:55
that's including weekends
3:57
um so you know to be able to set uh you
4:00
know it's hard to set uh work-life
4:02
balances from that perspective and the
4:04
other thing too is you're really an
4:06
entrepreneur people like forget that is
4:08
it when you're a realtor you really have
4:10
your own business I mean you have your
4:12
own Quick Books in fact I've been
4:13
helping my mom with that lately and
4:15
setting up some of those systems you
4:16
have your own CRM so there's there's a
4:18
lot to it so um again you just sort of
4:21
have to decide do you want to go which
4:23
which route right I mean if you're just
4:25
looking for a little bit of money and
4:29
do something like you've got that
4:30
flexibility or you're wanting to
4:32
literally make a crap ton of money you
4:36
can do that too yeah and I think the
4:38
other thing too to understand is that um
4:40
you know I guess it really depends on
4:42
where you live right because maybe if
4:44
you were living in like Beverly Hills or
4:45
something you just have to sell one here
4:46
I mean what's that show that you like
4:48
yeah oh my gosh selling Sunset okay so
4:51
good and I yeah you saw one house a year
4:53
you're set because they're 32 million
4:56
dollar home right the commission on that
4:58
alone is like forget about it yeah a lot
5:01
um but I mean or you live in Pittsburgh
5:03
where you might have to sell 55 houses a
5:07
year to make a decent living yeah and
5:09
and that brings up a good point think
5:11
about how many people are competing for
5:14
those Beverly Hills Hills jobs right I
5:16
mean that's the thing so I would say
5:18
just
5:20
um you know from my experience watching
5:21
my mom the number one most important
5:23
thing with both passing your real estate
5:25
exam and becoming successful is
5:28
persistence right yeah um yeah and then
5:31
you build up your clientele and over
5:32
time
5:33
um
5:35
and that's the other thing too so I I
5:37
didn't
5:38
um you know mention this so my mom has a
5:40
lot of uh older friends that are you
5:42
know pretty much retirees but they just
5:44
take you know refer uh their referral
5:46
business and some of their best clients
5:48
so they actually do make a lot of money
5:49
and have like a lifestyle business do
5:51
you remember when we were at that one
5:53
with the breakers for the one Resort and
5:55
there's that one lady who sort of is
5:57
kind of like can you remember that right
5:59
a second it'll dawn on me later anyways
6:02
anyways it's a certain point
6:04
um you know when you retire oh
6:08
um I can't think of any
6:09
of her name exactly she had like real
6:10
short hair
6:12
yeah so she um she born had a lifestyle
6:14
business because at that point she built
6:16
up her business and they just came to
6:18
her she didn't have to do any lead
6:19
generation or anything like that
6:21
um so at this point
6:22
um why don't
6:24
she give my mom a call let's give her a
6:26
ring why not I mean she may not answer
6:28
because she's the busiest realtor and
6:30
human being I've ever met yeah but we
6:32
could try yeah yeah and if he doesn't
6:34
she doesn't so those are all the big
6:36
cons right and the expectations you know
6:40
the the work-life balance and
6:41
understanding do you want to take the
6:43
money path or do you want to take the
6:44
work life balance path but let's see
6:46
what mom says hopefully she'll answer
6:47
yeah hopefully this one if not I'm sure
6:49
by the end of this video she'll call us
6:51
back
6:52
all right
6:54
this is gonna be funny oh
6:56
you've got a oh it's okay
7:00
hey Mom
7:01
hey you're you're Live on YouTube if uh
7:04
I sorry
7:06
um I thought uh if you could take two
7:08
minutes and just talk about maybe some
7:10
of the pros and cons of of being a
7:13
realtor would that be okay
7:16
okay so yeah so what would you say or
7:18
maybe the top uh top you know two or
7:21
three pros and maybe some of the top
7:23
cons of being a realtor
7:30
absolutely
7:32
all right um ask me the question again
7:35
sure no worries yeah I kind of just hit
7:37
you out of nowhere um give you know what
7:39
this is a cons video so why don't you
7:40
tell us some of the top uh negatives of
7:43
of being a real estate agent that maybe
7:44
some people haven't thought about
7:47
well the top negatives about being a
7:51
realtor
7:52
um probably the two things I hear from
7:55
my team members are you have to work
7:58
with other people are off work
8:01
which means you have to be available
8:03
evenings and weekends
8:06
and
8:08
um sometimes you know that gets to be
8:11
old or hard when you want to be home
8:13
with your family your spouse
8:17
um
8:18
at that time right and we and we did
8:22
mention that and that's that's one of
8:23
those ones because we see how hard you
8:25
have to work and
8:26
um you know obviously you know you have
8:28
to work when other people aren't
8:30
yes one of the other things that's very
8:33
difficult is
8:36
um if you're just starting out
8:39
you need to have some savings or a
8:43
budget for a spouse who's working
8:47
even if you sell a house day one
8:52
you're probably not going to get your
8:54
first paycheck till day 45. well that's
8:58
a good point you have to be prepared for
9:00
that okay see this is why we call her
9:03
because she has all these insightful
9:04
things that we can't think about it and
9:06
anything else mom
9:08
well and you also like the biggest
9:11
problem for new Realtors is that they
9:15
can't keep their business consistent
9:18
and that's why a lot of people join the
9:20
team because what happens is a young
9:24
realtor they do really well they get two
9:27
or three sales and then they're so busy
9:30
with Home Inspection mortgage appraisal
9:35
keeping that particular scale together
9:37
that they're not prospecting for your
9:40
new business so they have the up and
9:43
down of the income
9:46
I see that makes a lot of sense so you
9:48
got to always be prospecting but it's
9:49
really hard when you're just a one
9:51
person trying to you know grow your
9:53
business and then deal with the
9:54
contracts and all that stuff right
9:56
absolutely and that's why we always like
9:59
keep pushing our team members every week
10:03
okay this is happening now you have to
10:06
continually do this yes you might be
10:08
busy now but you need to make your phone
10:11
calls every day you need to send out
10:13
your just sold otherwise two months from
10:16
now you're not going to have any money
10:17
coming in no that's great
10:20
um perfect okay well I don't want to
10:22
hold you up too long because I know
10:23
you're you're super busy
10:26
um what about some positive things about
10:28
being a realtor or any final words for
10:31
the audience
10:33
well oh absolutely there's so many
10:36
positives
10:37
your income is Limitless
10:41
um and what I mean is you can you get
10:44
what you put in out so if you're a
10:48
really hard worker and just stay at it
10:50
you can make a terrific income
10:52
um
10:54
secondly
10:55
um you make a lot of really good
10:59
relationships with your customers you're
11:02
helping them make the largest one of the
11:05
largest decisions possibly in their life
11:07
and and you become a trusted advisor to
11:10
those families or people
11:13
and that's really important
11:16
um and
11:18
um you know you just get to it's not the
11:21
same every day which could be a good
11:23
thing or a bad thing because there's
11:25
never a day even though I've been doing
11:27
this for 33 years that I don't learn
11:30
something new because there's never any
11:33
two days that are the same in real
11:35
estate wow well that's great perfect mom
11:38
as as always
11:40
um you exceed expectations that was so
11:42
well said gig
11:46
our kid calls her Gigi if you're
11:48
wondering so okay Mom love you thank you
11:51
all right all right thanks bye
11:54
well well there you have it so she's
11:57
amazing isn't she she is and we hope
11:59
that that just taught you so much
12:01
because
12:02
she's so has so much experience she's
12:04
been doing it for ever right right so
12:06
she obviously loves her job and um yeah
12:09
I don't know what else to say after that
12:11
so yeah so at that end done yeah so so
12:15
with that being said we'll leave it
12:17
there um I think we're probably gonna
12:18
have to have her in person at some point
12:20
definitely
12:21
um I think y'all probably want to meet
12:22
her at this point and the other thing
12:24
too is if you actually are in the
12:26
Pittsburgh area I mean she's always
12:27
growing her team
12:29
um so maybe even you could join uh up
12:31
with her so anyways um have a wonderful
12:33
rest of your week and we'll see you next
12:35
week okay
12:36
bye
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