If you’re here, you’re either already pursuing a career as a real estate negotiator (REN), or you’re dipping your feet in the property industry (in which case, read here to find out how to become a REN!).
You might be wondering, can I become a full-time or part-time real estate negotiator?
Simply said, each path has its own pros and cons. So, put those curiosities to sleep and let’s explore each option so that you can make the right decision!
1. First of all, what is a real estate negotiator?
A Real Estate Negotiator (REN) is a person who has been hired or contracted by a company to list and market properties, all the while under the supervision of a registered real estate agent. This means that a negotiator cannot work independently and must be supervised by a real estate agency.
2. What is the difference between a real estate agent and a real estate negotiator?
In Malaysia, real estate agents are referred to as real estate negotiators or REN for short, while realtors are referred to as REA or a Registered Estate Agent.
All real estate professionals need to be registered under the Board of Valuers, Appraisers, and Estate Agents (BOVAEA).
Still confused between the two? Find out the differences between a REN and a REA here!
3. Pros and cons: full-time real estate negotiators
Now, let’s finally sink our teeth into the advantages and disadvantages of becoming a full-time REN!
Advantages of becoming a full-time REN:
i. Access to a wider range of clients
Being a full-time negotiator will allow you to reach out to more clients and build a larger network of contacts. This can translate to more business and more opportunities to close deals.
ii. More time to focus on real estate
By being a full-time negotiator, you’ll have the time and resources to dedicate to the many tasks involved in buying and selling properties. This will allow you to be more thorough and efficient in your work.
iii. More stable income
Working full-time in the industry can provide a more stable income, as you’ll be able to take on a higher volume of work and make more consistent commissions.
Disadvantages of becoming a full-time REN:
i. Higher pressure to close deals
As a full-time negotiator, you may feel more pressure to close deals and meet sales targets. This can create a stressful work environment that may not be suitable for everyone.
ii. More competition
With more people working full-time in the industry, the competition can be fierce. This means you’ll need to be proactive in your approach to securing clients and closing deals.
iii. Potential for burnout
Working full-time in real estate can be demanding, and if you don’t manage your workload properly, you may experience burnout.
4. Pros and cons: part-time real estate negotiators
Let’s dive into the pros and cons of becoming a part-time REN.
Advantages of becoming a part-time REN:
i. Flexibility
As a part-time negotiator, you can set your own schedule and work around your other commitments. This can provide greater flexibility and work-life balance.
ii. Lower pressure
With a part-time role, you may feel less pressure to close deals quickly. This can create a more relaxed work environment.
iii. Additional income
A part-time role can provide additional income alongside another job or business.
Disadvantages of becoming a part-time REN:
i. Limited availability
As a part-time negotiator, you may not be available to your clients at all times, which can limit the number of clients you can take on.
ii. Limited network
With limited availability, it can be more challenging to build a wide network of contacts and secure new business opportunities.
iii. Limited earning potential
With fewer clients and limited availability, your earning potential may be lower than that of a full-time negotiator.
Conclusion: Should you become a part-time or full-time REN?
Ultimately, the decision to be a full-time or a part-time real estate negotiator will depend on your individual circumstances, goals, and priorities. If you’re looking for stability, a full-time role may be a better fit, while if you’re looking for flexibility, a part-time role would suit you better.
Still considering becoming a real estate negotiator? Come join us! With incredible perks such as travel, home and car incentives, rest assured you’re in good hands. Drop your details below and we’ll give you a call shortly!
