Pros and Cons of Becoming a Real Estate Agent in South Carolina
One of the most recognized and growing industries, a career in real estate continues to be a rewarding and fulfilling professional path for many.
There are thousands of students and experienced professionals who have set their sights on working in South Carolina real estate.
Compared to other high paying careers, becoming a real estate agent does not require a mandatory bachelor's degree.
Thanks to the steady demand for residential and commercial properties and a robust economic outlook, South Carolina’s real estate landscape is brimming with opportunities for agents and brokers.
The demand for real estate agents and brokers continues to grow steadily, as the need for more housing and commercial real estate increases.
Did you know that as a real estate agent in South Carolina, you can easily make $100K and above as an average annual salary?
On top of it, you will get opportunities to earn commissions and enjoy additional perks.
Imagine the lifestyle you can live with a six-figure salary in just a few years. The sheer joy of being your own boss and the thrill of experiencing financial freedom with a prospering career.
If you are ready to kickstart your new career and earn your real estate license in South Carolina, it’s important to take a step back and see the complete picture.
Working as a real estate agent is a lucrative career option for many, especially those who value their time, flexibility, and freedom.
Many individuals take their first step into the world of the real estate industry at different phases and stages of their professional lives and have a lot of questions before making a career shift.
If you are someone who is on the fence about joining a fast-moving, dynamic, and exciting industry, then it is important to understand what’s in it for you.
A career in SC real estate might look and seem all rosy and fun but there’s always another side to every coin.
There are many advantages to choosing this career path, however, like any other profession, working as a real estate agent comes with its own disadvantages too.
Since choosing a career is an important professional decision, it is imperative that you carefully weigh the pros and cons of becoming a real estate agent in South Carolina.
In this article, we are going to dive deeper into the career path of working as a real estate agent and the pros and cons of it.
You will also learn about the requirements to become a licensed agent, your day-to-day responsibilities as an agent, and what the job role entails.
The Career Path of a Real Estate Agent
A real estate agent is a licensed professional who works with clients on a commission basis to help them buy, sell, or lease properties.
Real estate agents can represent either a seller or a buyer in a transaction and help their client achieve their goals.
To start a career in real estate, you must equip yourself with the state and federal laws, rules, and regulations.
You might not need a college degree to become an agent, but you must complete state-approved pre-licensing education to become eligible for getting a real estate salesperson license.
Don’t worry if you are a busy professional or a student who does not want to commute - you can easily enroll in a South Carolina real estate course online and complete the 90 hours of mandatory education.
Since real estate is a highly intricate, regulated industry, it is important for all aspiring agents to be aware and up-to-date with the latest regulations and best practices.
In the beginning, you will start as a salesperson with a license who will work under the supervision of a sponsoring brokerage firm or a senior broker.
Working under an experienced industry professional is another mandatory requirement in the state of South Carolina.
However, if you are starting as a newly licensed real estate agent, you will still get the flexibility to set your own working hours, find your clients, expand your network, and close deals on your own.
After working in the industry and completing practical, real-world experience hours, you can proceed to complete additional education and obtain a broker’s license in South Carolina.
The Role and Responsibilities of a Real Estate Agent
A day in the life of a real estate agent involves a lot of calls, emails, meetings, appointments, and tours.
Since you will be juggling multiple tasks in a day, there’s rarely going to be a dull moment at work.
Let’s take a look at some of the common responsibilities and duties in the life of an agent:
- Work with clients to understand their needs and set clear expectations
- Answer phone calls, texts, and emails from potential and existing clients
- Set up appointments and schedule property visits and showings
- Regularly track the industry trends and stay updated with the local market
- Meet with clients to discuss their buying, selling, or leasing needs
- Research the state market opportunities and identify potential leads
- Connect with industry professionals on behalf of clients or brokerage firms
- Gather information related to properties, market trends, pricing, and competition
- Assist clients with property staging, site tours, and inspections
- Guide clients through various stages of buying or selling a property
- Educate clients regarding property laws, market conditions, transactions, and so forth
- Ensure compliance with the state and federal laws for all paperwork and documents
- Build and maintain relationships with industry professionals such as home inspectors, property appraisers, attorneys, and realtors
- Research about comparable properties and conduct analysis
- Create and publish marketing material to promote listings and find new clients
- Help clients negotiate the selling or buying price to close the deal
- Draft clear, accurate, and concise drafts, deeds, terms, and contracts for a transaction
In addition to the above, your specific job duties will depend on your employer and whether you are working as a seller’s agent or a buyer’s agent.
The list goes on but you should now have an understanding of what your core job duties and responsibilities will be.
Getting a Real Estate License in South Carolina
Now that we have outlined what you will be doing as a real estate agent, let’s discuss in detail the steps required for becoming a licensed agent.
It is important to understand that every state has its own set of qualifying and eligibility requirements for real estate agents.
These requirements might differ from state to state but they often consist of the same key aspects.
Wondering how to get a South Carolina real estate license? Here are the three key steps:
- Fulfill the basic qualifying requirements
- Complete mandatory pre-licensing education from a state-approved education provider
- Complete background verification and criminal background check
- Pass the South Carolina real estate salesperson licensing exam
- Find a sponsoring broker
Once you find sponsorship from a brokerage firm, you can legally assist clients in buying or selling real estate.
Pros of working as a Real Estate Agent
Flexible Schedule and Potential for High Earnings
The number one reason why a career in real estate is enticing for many is the chance to work at your pace and be your own boss.
A career in real estate will give you the freedom to work on your own terms and create a flexible schedule at your convenience.
You can easily make good money as the average salary of a salesperson can range between $50K to $150K annually in South Carolina thanks to the lucrative commissions which can easily range between 2 to 5 percent of a property’s final selling price.
Plus, the bigger your network and clientele, the higher your earning potential as there is practically no limit to how much you can earn.
Opportunities for Growth and Advancement
Real estate is a constantly growing and evolving industry as people are always looking to invest in property, renting their property, or moving to new cities and states.
If you have been looking for a sustainable, high-growth career, then working in the real estate industry is a good move.
Once you get your real estate license in South Carolina, you can continue to work with senior agents and brokerage firms to build solid ground. After completing additional education and certification, you can also become a realtor.
With time, you will gain the experience to find your own clients and also start your own real estate firm.
Rewarding Career Helping People Buy or Sell Properties
A career as a real estate agent will give you the opportunity to help people buy and find their dream property.
There is no bigger satisfaction than the realization of helping clients achieve their home ownership dreams.
When working as a real estate agent in SC, you will get opportunities to meet, connect, and network with clients from all walks of life.
You can help them navigate the market of choices with your knowledge, skill, and expertise.
If serving people and helping them realize their dreams sounds emotionally rewarding to you, then this is a good career path for you.
Independence and Flexibility
Most real estate agents are self-employed and they work on their own schedules.
As an agent, you can set your own schedule and define your own working hours.
As long as you are closing the deals and getting the job done, it does not matter how many hours you are putting in.
Real estate agents also enjoy the flexibility to work from anywhere - be it from the office, field, or their home.
You can choose to work part-time or full-time, based on your needs and career goals.
Cons of Working as a Real Estate Agent
Competitive Market
Due to the low entry barrier and the relatively shorter time required for licensing, real estate is a highly crowded industry with thousands of professionals.
In the event of a market slowdown or an industry downturn, it can be difficult to find clients as there are always options available in the market.
Volatile Industry
Real estate is a highly sensitive and volatile industry that can fluctuate quickly based on external and internal factors.
There is always a sense of uncertainty and glooming crisis due to various economic, geopolitical, social, and national factors at play.