What it Means to Be an Independent Contractor As a Real Estate Agent
Being a real estate agent is more than just selling houses and making commissions. It is about helping people find the house of their dreams while also finding someone to trust with one of the biggest financial decisions they will make in their lives. When you are an independent contractor real estate agent, there are some important things that you need to know before signing on the dotted line. You have to pay your taxes and insurance and deal with all other legalities of owning your own business. There are also some obvious perks, such as working from anywhere, dressing the way you would like, and having no set schedule. We at HomeServices Real Estate Academy want to explain what this might look like for you.
Taxes
Many people don't realize that independent contractors are responsible for paying their taxes. If you're considering becoming an independent contractor as a real estate agent, make sure to read up on the local laws and regulations. It's important to know that not only will you need to pay taxes on your income, but the IRS may consider this self-employment and require additional tax filings. It is important to be aware of this before starting your journey to becoming an independent contractor so you can be as prepared as possible for what will be expected of you.
Flexibility
The flexibility of working as a real estate agent is one of the greatest perks. As an independent contractor, you can set your hours and work on your own time. You can take advantage of this benefit by planning for days off or taking breaks throughout the day to do other activities that may be important to you, such as spending time with family, going out with friends, running errands, etc. This flexibility is priceless and creates a work-life balance that is enjoyable and sustainable.
Responsibility
There is a lot of responsibility that lies with real estate agents. Many parties will depend on you, so you must be well-educated and informed. That is why our courses are so relevant. We provide the steps and tools that you need to succeed in this profession. Real estate agents are independent contractors with the responsibility of making sure their clients are happy. With this responsibility, they also have to make sure that they meet the requirements set by the commissioning company or agency. Being a real estate agent comes with a lot of responsibility, which is a role that we are proud of.
Contact Us
As an independent contractor, you have more control over your schedule. You don't sign a contract with one company for the rest of your life, and you can work as much or as little as you want. If this sounds like something that would be beneficial to you, contact us today for a free consultation on how we may be able to help make it happen! We proudly serve Lexington, Georgetown, Versailles, Paris, Nicholasville, Richmond, Harrodsburg, Frankfort, or Winchester and provide online learning tools for anyone to utilize.
