Long gone are the days when workers would stay with the same company for 40 years. In fact, the US Department of Labour estimates that individuals change careers anywhere from three to seven times in a lifetime. Pension ages being on the rise mean there’s even more time to make a transition into a satisfying real estate career. If you’re approaching middle age and are feeling hesitant about a late career change, here are a few reasons to make your move.
4 strong reasons why a late career change into real estate pays off
Translatable experience
You may hold reservations about a late career change into real estate, particularly if you have no background in this industry. Yet by making this switch later in life, you just might find the transition easier. You’ll already hold transferable skills from existing work experience, which combined with high confidence could sent you right to the top of your game.
Areas where previously acquired competences may translate well into property are sales, marketing, PR and communications skills – all of which can be gained from multiple industries. Combine these with a newfound knowledge of the market gained, perhaps, from courses in real estate, and you’ll be ready to make a profound splash.
Existing network
Making a career change at 40 for example ensures that you've already had the opportunity to grow a professional and personal network. Compared to a youthful candidate starting from scratch, you’ll be entering the real estate industry with a fuller book of contacts to draw upon.
This will prove extremely useful when it's time to advertise vacant properties or build your beginning roster of clients. You can bolster this existing network by carrying out additional research, arranging face-to-face meetings with industry leaders and expanding your expertise.
Greater control
If your current business activity feels somewhat stalled, a career change at 40 or different age at which you already gained some work experience, will allow you to apply a newfound momentum. The real estate industry encourages autonomy within your network, giving a high level of freedom to grow your own company.
Whether you gravitate towards commercial property, urban development or residential sales, the sky’s the limit in terms of personal reward. You can take charge of your own clients and corresponding salary growth as an independent agent, rather than waiting on the sidelines and following someone else's rule book. You're also free to manage your own daily work flow, enabling you to achieve the work-life balance that suits you.
Self-awareness
Compared to recent graduates, you'll have passed through many more career stages as a seasoned professional. You probably know what it feels like to make mistakes and learn from them moving forward. A late career change means that you’ll be making a fresh start with an advanced sense of self, making it easier to pursue your goals.
You’ll have learned by now what your life priorities are, from spending time with friends and family to dedicating more time to travel or a certain hobby. With defined goals, you can tailor your new career to meet expectations.
Are you ready to take the next step? Browse through our selection of career blogs for guidance, including how to get started in a new real estate career.