It’s not uncommon for retirees to decide to downsize their current house into something smaller and more manageable. As retired people take on the challenge of owning a new and smaller house, they also must create and manage a new lifestyle. These days, there’s no such thing as sailing off quietly into the sunset. Today’s retiree is healthy, vital and wants to make a contribution. A new career in real estate may be one way to do just that.
Career Changes
A recent survey showed that 8.4 million Americans between the ages of 44 and 70 have changed careers. And another 4.2 million people are researching and considering making a career change. A career in real estate just make be the perfect fit for retirees.
Benefits of Real Estate Careers
Retirees chose a career in real estate for a number of reasons. Real estate allows for a flexible schedule while offering a way to earn additional income. Retirees can use the skills and experience they have in their prior careers and apply it to their new jobs. In addition, retired people can tap into long-established community relationships to quickly build and grow a thriving network. Lastly, real estate is a great way to help others.
Older Agents
According to Realty Times, the average age of realtors is between 52 and 60. This age has increased by more than 20 years, from age 42 in 1978 to age 50 in 2000. In fact, one-third of the brokers surveyed are nearly 60 years old.
Experienced Homeowners
As most retirees have bought and sold real estate in the past, they may have some basic knowledge of the industry. However, being a real estate agent is a complex profession. Learning about the industry will prove to be quite an intellectual challenge and a great way to keep the mind active.
Hard Work for Retirees
Many late-life career jumpers are eager to jump into a new real estate career. But retirees should approach the venture with careful thought and research. Real estate is not a part-time job; it is difficult and time- consuming profession. Most experts say that new agents have to invest at least a year of serious work before they can see results.
Active Learning, Active Mind
Most retired folks consider themselves lifelong learners. By attending industry conferences and workshops, a new agent can certainly keep busy learning about the latest trends and techniques to be successful in this business. Another way to learn is to read industry publications, and connect with real estate affiliates. This helps keep new agents informed about market conditions and trends.
Happy at Work
Research shows that retirees who chose to work after retirement are more active and socially connected, which can translate to better overall health and well being. Those who work after retiring say that they feel happier and more fulfilled than their fully retired peers.
There are other benefits for retirees to consider a career in real estate:
- Real estate agents benefit from social interaction of working with a wide variety of people.
- Jobs in real estate are a great way to stay busy, active and productive.
- Careers in real estate gives retirees a chance to put their creative abilities to great use.
- As an experienced homeowner, retired people are a valuable asset and resource for young couples going through the home buying and selling process for the first time.
Today, retirees want to blend the challenges of rewarding work with special time for with friends and family and hobbies. Real estate can offer the kind of blend that today’s retirees seek.