Is real estate the next big career move for South African professionals?

Staying in the same job for 40 years is a thing of the past, and it's not uncommon now for people to change careers multiple times in a lifetime. Switching careers to real estate can be hugely liberating and economically rewarding but the road to success entails hard work and plenty of determination.

"Many people in the latter stages of their professional life have successfully transitioned to a career in real estate from industries such as finance, IT, legal and teaching," says Berry Everitt, CEO of the Chas Everitt International property group. "If you're middle aged or even approaching retirement age but you have transferable skills, a wide network and drive - you too can make a successful career change into this rewarding industry."

Here are a few things to consider before you take the leap:

Transferable skills and experience 

Many of the skills you have already developed in your professional career will stand you in good stead in the real estate industry. Analytical, organisational and communication skills, problem-solving abilities and being self-motivated are just some of the sought-after, transferable skills that you need as an agent. Combine these with the confidence that comes from years of work experience, and you have the right qualities to launch your new career, even if you lack industry experience. 

Many previous careers can translate into real estate strengths. Were you a teacher? While you have strong people skills and you're organised, you also have insight into the most desirable school areas. Were you an attorney? Together with your ability to negotiate and construct clear, persuasive arguments, your knowledge of technical and legal paperwork will be hugely beneficial to you and your customers. Whatever your skill or background, there's a niche for your specific experience in the real estate industry. 

Wide professional network

Having a large, robust network is essential for successful agents. In a highly competitive industry, you need a large pool of contacts as they will become your future home sellers, potential buyers and referral partners. Building relationships with professionals like attorneys, bankers, bond originators, developers and builders will also help you ensure a smooth transaction for your buyers and sellers. Building relationships with other agents also helps you expand your network and your opportunities.

A midlife career change usually means you have an established network, compared to someone new to the working world. Use this to your advantage. You can also grow your network by attending industry events, joining online groups, getting involved in the community, joining local organisations and building your online profile. 

Greater control

Moving to real estate isn't just a career change, it's a lifestyle change. It'll take a while to adjust to no longer working a 9-5 day, but the flexibility that comes from being your own boss - and working from home - is a huge drawcard for many agents. While you will need to be very disciplined, you will have the freedom to set your schedule so that it works around your needs. Essentially, you'll be self-employed, which is why you should have a good attitude, a solid work ethic and be willing to put in the time. Agents work long hours, including evenings and weekends, as this is when most customers are available to meet. However, the payoff is that there are really no limits on growth in the real estate industry. 

Unlimited earning potential

Unlike many other careers, you won't be restricted in real estate by the company salary or your hourly rate. What you put in, is what you get out. With drive, determination and hard work, your earning potential will be unlimited. But it is worth pointing out that your income is likely to dip if the market slows down. If you're not selling homes, you're not earning, which is why it's important to have money in the bank to rely on during slower periods. 

There are few industries that are as welcoming to a midlife career change as real estate. As a business focused on people, it takes those from all walks of life to serve customers from all walks of life. Thinking about making the professional move to real estate? Learn more about the different career paths at Chas Everitt or call our head office to chat to our property professionals.