Considering a Real Estate Career in Tel Aviv? What You Need to Know Before Jumping In

In my last post, I covered some of the basics in what being a real estate agent in Israel is like.

I get a lot of questions from newcomers on what being a real estate agent in Tel Aviv, or Israel for that matter, is like, and I’ve realized that I have been replying by giving in basic know-how’s, without going much into depth of what it actually takes to become one.

So, today, I’ve decided to dig in a little deeper by defining what it takes to actually be a successful real estate agent in hope to accomplish two things: 1. Offer some clarity to those seriously considering a real estate career in Tel Aviv (or anywhere else in Israel), and 2. Give more credit to the agents out there who are really rocking it!

I started my career almost eight years ago, and trust me – things were very different then from the way they are now.

Competition was high, but not as high as it is now, it seems like real estate agents are abundant, and brokerages keep opening and closing almost on a weekly basis; but it’s not competition that you should focus on, more like smart marketing and how to establish a strong online presence to outrun your competition, which I’ll cover in another post.

But for now,  I’ve outlined some key questions you should ask yourself, if you want a fighting chance at success:

1. Are you able and willing to work 6 (sometimes even 7) days a week and be available most hours of the day?
2. Are you self-motivated & organized enough to be self-employed?
3. Can you afford to work hard… and not get a paycheck for a month? Two or even three months?
4. Are you able to multi-task and juggle numerous clients at once and at the same time, not allow your career to consume your life?
5. Are you a people’s people? – Probably the first question you should ask yourself…

Answering ‘Yes’ to all these questions is paramount, as this is a very demanding and stressful industry. Which is why the best real estate agents are those who are outgoing self-starters who thrive in a fast-paced environment where the scenery and schedule always change. And amazingly enough, they do it with a smile on their face while making it look easy.

[Tweet “Are you self-motivated & organized enough to be self-employed?”]

You need to be able to roll with change gracefully and accept working nonstop like a madman for a month or two, especially in Tel Aviv’s peak seasons (April – September) as well as know that you could be without work for a month or two non-stop, like in Tel Aviv’s slow winter months.

Here’s another question to ask yourself:

Why are you considering a career in real estate?

If money is the answer, then you’re better off at an hourly job because that provides a guaranteed paycheck and you’ll work a lot less hours! Sorry to burst your bubble, but the misconception that real estate agents make tons of money and work very little is WRONG. True, it is a very rewarding business, and if done right, you could make a very good living out of it. But depending on many different factors, you could make 10 NIS an hour or 500 NIS an hour by the time you get to the closing table. Every deal is different and there are no easy deals.

The responsibilities of a real estate agent are more than what the average might think. You don’t need a Master’s Degree, but you do need to pass the Israeli Real Estate License Exam (which is in Hebrew), pay your annual licensing fee and stay on top of market trends.

You need confidence and an outgoing personality for any sales job. Consider this: buying a house is THE MOST expensive & important purchase a person will ever make, so you better be able to handle that confidently and competently.

You then need to find an agency, make business cards and get a website. Half fail at this point because they realize that they actually have to put in effort now to look for clients. Business will NOT come to you – you must be looking for it. Every day.

If you’re going solo, then prepare to spend A LOT of time building your brand, building up your database of professional network and clients, and these sort of things take time.

While most agents in Tel Aviv / Israel work on similar patterns, I run my business with a different approach; I chose a specific niche to focus on, where I spend very little money on paid ads, but I do spend a TON of time building my brand with a focus on establishing a strong web presence.

In addition, I have my list of trusted colleagues (oh, and you need to hand-pick them as well! But I’ll get to that in another post) whom I work with often, so there’s a whole network of both prospects and professional personnel whenever a new listing comes in.

[Tweet “If you’re going solo, then prepare to spend A LOT of time building your brand”]

You are your own boss, your own secretary, your own appointment scheduler, customer service department, marketing department, IT department,… all while assisting potential clients buying or selling their homes. Which is why I’m a firm believer in quality over quantity! (to be covered in another post). Strong organizational skills is almost a must in this line of business, but if time-management and organization aren’t your strong suits, then you may want to hire an assistant, if you can afford one…

Now, I know all this sounds a bit negative and I’m not trying to discourage you – I’m just keeping it real.

Personally? I love what I do, and I truly feel I’ve found my niche because I know I’m very good at what I do. There aren’t many people that are, and I see more fail at it because it can be very time-consuming, life-draining and stressful. That can only happen if you aren’t organized and don’t have a go-getter positive attitude, as well as that special something to balance it all out.

I love self-employment. I get to run my own schedule, work from home, and I absolutely love how this business is very dynamic. No one day is like the other. I meet new people, look at apartments and I appreciate a good design (I have a soft spot for designer homes and for special buildings that have a history…). I love all of it. I find it very rewarding to help a client sell or buy an apartment, especially here in Tel Aviv, and especially with foreigners, because I know I am a small part of that person’s important life event!

So if you are still planning to dive into real estate, I applaud and wish you the best of luck.

If you have any questions, feel free to drop me a line or let me know in the comments below.

To help jump-start your success, here’s our ‘Beginner’s Guide to being a Real Estate Agent’ eBook for you to download, and stay tuned for my next post.