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Finding career switch opportunities that offer flexible hours, good earning potential and the chance to use the skills you’ve honed can be challenging. There is, however, one option that meets all of those requirements and more: real estate.
Most real estate agents — who help buyers and sellers make property transactions — come to the role as a second career, according to Brandi Snowden, director of member and consumer survey research for the National Association of Realtors. In fact, the median age of all real estate agents who belong to the association is 60. And just 6 percent say real estate was their first career.
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“We see that there’s a very diverse background of members who are coming from other industries and starting in real estate,” Snowden says. And the career’s reputation for flexible hours and workloads makes it appealing for those who are beginning to plan for retirement, too.
The career also does not require a college degree, which can make it easier to switch into than some other professions. Requirements to work as a real estate agent vary from state to state, but in general, you will need to complete 45-60 hours of study in a real estate course and pass a licensing exam. On average, real estate agents earn $52,030 per year ($25.02 per hour), according to the U.S. Bureau of Labor Statistics.
If you’re interested in staking your claim as a real estate agent after age 50, here’s how to get started.
1. Check your skill set and complete a pre-licensing course
Through your work experience, you’ve developed a number of skills — and many of them may work to your advantage in real estate, says Nicole Beauchamp, associate broker at Sotheby’s International Realty in New York City. Beauchamp came to real estate from a career in finance and technology with an academic background in economics, philosophy and statistics. She says her finance and economics background helped her understand real estate market trends. Her ease with technology helped her communicate with clients and evaluate tech tools to integrate into her business.
According to the “2023 Profile of Home Buyers and Sellers” report from the Realtors association, what buyers want most from real estate agents is to help them find the right home (50 percent) and help negotiate the home price (12 percent) and the terms of the sale (11 percent). Beauchamp says that good communication skills and the ability to network are also valuable in real estate.
Depending on where you live — and where the real estate you want to broker or sell is located — you likely will need to complete a licensing course, either before or after taking your real estate exam. Check with the appropriate real estate licensing agency for your region for certified courses.
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