Here are the job advantages and what they really mean in action
1) Brokers work flexible hours
This is one of the advantages that drive people to work in Real Estate. However, you need to be aware that a flexible schedule doesn’t mean less hours. Brokers often work longer hours by choice than usual 9-6 office desk jobs. In fact, they work even in the evenings and weekends because property seekers usually have time to view properties after work or on their day off.
2) Brokers are their own boss
Don’t be surprised if you start in a company and if no one questions your whereabouts or push you to do anything. Real Estate Brokers operate like a Small-Business Owners rather than Employees. Unlike 9-6 jobs where tasks are clear, and salaries are guaranteed, Brokers only get paid if they put enough effort to close a deal.
Since there is no Basic salary, the pressure is on you. This is why there is a high employee turnover. Brokerages usually let go of underperforming Brokers and direct their resources to the next promising candidate. Successful brokers are excellent bosses and managers of their own time and tasks.
3) You don’t need a higher degree to become a Broker
Yes, you don’t need a higher degree, but you do need at least a high school certificate to apply for a Real Estate course. The Broker’s job requires exceptional entrepreneurial and people skills, excellent market knowledge, and a can-do attitude to help people make their biggest purchase decisions. Proper training and real estate education are crucial.
Dubai’s RERA provides a mandatory Broker certification course after which is you can receive your Broker License. For those who wish to level up their skills, there is a real estate Diploma course available as well.
4) Brokers earn high commission
Brokers have the potential to earn high. It is very simple, you decide how successful you will be and how high a deal will pay you. Those who work well, do earn really well. In fact, high achieving brokers can easily reach six figures per deal. But, those who don’t build the foundation to close a deal can end up making as low as nothing.