Real Estate Business Update! Putting in On Hold. :(
I have decided to put my real estate business partially on hold. I'll continue to work with my existing clients to assist them with their property purchase, but will not spend any more money on marketing.
1. Business is adversely impacted by the rising interest rates. Advertisement cost has ballooned by at least 3x compared to a year ago. As a newbie, I am unable to compete with the seasoned realtors who are spending more than 30k per year, and can go up to 6 figures. It doesn't make sense for me to swim against the tide for now.
2. I have new found respect for realtors. The job is not as easy as what most people think it is. The work hours are also not as "flexible" as what most people think. Work hours are normally during holidays , weekends and after office/school hours. So are courses, seminars and networking sessions and you normally have to yield to the clients. Take for example my boss. He is always "online". Virtual meetings at 9pm are common as well. Work hours are flexible in the sense, it's your business to lose. What would you do between a sick child and a 100k comission deal? Both have to be attended to at the same time. Thus, the nature of a realtor job goes against my wish to spend quality time with the kids now that they are still very small.
For realtors to be, please do not be discouraged by this post. My group has alot of successful new realtors as well. Thus the problem could just be me being too attached to my family. 😂