Real estate attracts career changers for good reasons. You can get licensed in a few months, nobody caps what you earn, and you decide how your week runs. The same features make it hard in the first year: nobody pays you a salary, and your income depends on clients you haven’t found yet. This guide covers both sides so you can decide whether it’s the right move for you.
The Short Answer
Real estate can be a good career if you’re self-motivated, comfortable with uneven income, and able to get through a slow first year or two. The typical Realtor grossed $59,200 in 2025, but members with two years or less in the business grossed a median of $8,000.
The gap between those two numbers is the time it takes to build a client base. How well you can get through that stretch decides whether this career works for you.
The Pros and Cons at a Glance
- Low cost to start. A 77-hour course and $80 in state fees. No degree required.
- No ceiling on income. More closed deals means more income.
- You set your schedule. Most agents work as independent contractors.
- The business compounds. Half of a typical agent's business comes from past clients and referrals.
- Room to grow. Broker, property management, commercial and team roles all build on a salesperson license.
- No salary. You're paid in commission, and only when a deal closes.
- A slow start. Newer agents earn a fraction of what established agents do.
- You cover your own costs. The median agent spent $9,530 on business expenses in 2025.
- Evenings and weekends. You work when your clients are free.
- No benefits. Health insurance and retirement savings are up to you.
Why People Choose Real Estate
It's one of the cheapest professional licenses to get:
New York asks for 77 hours of approved education, a $15 exam and a $65 license application. You don’t need a degree, a diploma or any previous experience, and most people are licensed within two to three months. Compared with the years of study and debt that many licensed careers require, the barrier to entry is low.
*Our real estate license eligibility guide covers the requirements, and our salesperson licensing timeline shows how long each stage takes.*
What you earn isn't capped:
Most jobs set your pay in advance. In real estate, your income is a share of the commission on each deal you close, so it grows with your work and your reputation. That’s why the gap between new and established agents is so wide: according to the National Association of Realtors, members with 16 or more years of experience grossed a median of $88,500 in 2025.
You run your own business:
More than half of real estate agents are self-employed, according to the Bureau of Labor Statistics. You choose your hours, the neighborhoods you focus on and the clients you take on. For people who want more control over their working life, that independence is often the main attraction.
Your work keeps paying off:
In 2025, the typical Realtor got 28% of their business from repeat clients and another 22% from referrals. Clients you help in your first few years become the source of much of your later work. That’s how agents move from the lean early years to steadier income.
The Downsides to Weigh
Commission only, and paid at closing:
In New York, a salesperson can only be paid through the broker they’re licensed under. Real Property Law §442-A prohibits a salesperson from taking payment from anyone else. When a deal closes, the commission goes to your brokerage and is split with you under your agreement. If a deal falls through, you aren’t paid for the time you put in. For the full picture of commission splits, taxes and what a typical New York deal pays, see NYREI’s guide to what real estate agents actually earn in New York.
The first year is lean:
The $8,000 median for agents with two years or less isn’t a sign that the job doesn’t pay. It reflects how long it takes to find clients and get deals to closing. In New York, a purchase often takes two to three months from accepted offer to closing, and co-ops can take longer because the building’s board has to approve the buyer. Add the time it takes to find your first clients, and your first commission may be months away.
A common piece of advice for new agents is to have several months of living expenses saved, or to keep another income while you build up your business.
The costs are yours:
As an independent contractor, you pay for your own marketing, transportation, association dues and continuing education. You also pay self-employment tax on what you earn. The median Realtor spent $9,530 on business expenses in 2025, with vehicle costs the largest single item. Your New York license also has to be renewed every two years, with 22.5 hours of continuing education each time.
You work when your clients don't
Showings, open houses and calls happen when buyers and sellers are free, which usually means evenings and weekends. The Bureau of Labor Statistics notes that agents’ schedules often include both. The flexibility is real, but you control when you work only up to a point.
Still interested? The 77-hour salesperson course is the first step, and it’s online and self-paced, so you can take it without leaving your current job.
What Real Estate Income Looks Like
The most reliable figures on agent income come from the National Association of Realtors’ annual survey of its members. The 2026 Member Profile, which covers 2025, reported:
| 2024 | 2025 | Change | |
|---|---|---|---|
| Median gross income, all members | $58,100 | $59,200 | +$1,100 |
| Two years of experience or less | $8,100 | $8,000 | −$100 |
| 16 years of experience or more | $78,900 | $88,500 | +$9,600 |
| Median business expenses | $8,010 | $9,530 | +$1,520 |
| Median transaction sides | 10 | 9 | −1 |
The pattern matters more than any single number. Established agents earned more in 2025 while closing fewer deals, but income for newer agents stayed flat and everyone’s costs went up.
*These are national figures for Realtors, meaning agents who belong to the association. Earnings in New York vary widely between markets and between sales and rentals.*
Can You Do Real Estate Part Time?
Yes. New York doesn’t set a minimum number of hours for licensed agents, and 27% of Realtors had another source of income in 2025. Many people start part time and switch to full time once their business can support them.
Part-time real estate has a natural fit: clients are most available in the evenings and on weekends, which is when people with day jobs are free too. What holds part-time agents back is usually response time. A buyer who can’t reach you during the day may call another agent. Two things help:
- Choose a brokerage that supports part-time agents. Some expect full-time availability or require floor time in the office, so ask before you join.
- Be clear with clients about when you're available, and make sure they can reach someone when you're not.
The licensing course works the same way. At three hours a night on weekdays, the 77 hours take about five weeks.
Is Real Estate a Dying Career?
No, though it is changing. The Bureau of Labor Statistics projects employment of real estate agents and brokers to grow 2% between 2025 and 2035, slower than average for all occupations. It still expects about 40,400 openings each year, mostly from people retiring or leaving the field.
Buyers and sellers still rely on agents. In the National Association of Realtors’ 2025 survey of recent home buyers and sellers, 88% of buyers and 91% of sellers used an agent or broker.
What has changed is how agents are hired and paid. Since August 2024, agents working with buyers through an MLS need a written agreement before touring homes. Offers of compensation to buyer agents can no longer appear in MLS listings. In New York City, since June 2025, the FARE Act has barred landlords from passing their broker’s fee on to tenants, which has changed how rental agents get paid. None of this removes the agent from the transaction, but it does reward agents who can clearly explain the value they bring.
Who Does Well in Real Estate?
The agents who last tend to share a few traits. They’re comfortable starting conversations with people they don’t know and can build trust quickly. They follow up without being reminded, because nobody else manages their pipeline. They communicate clearly, in writing as well as in person. They stay calm when a deal runs into trouble late in the process. And they keep learning, because markets, rules and financing change all the time.
Real estate tends to suit career changers who want control over their income, people who want to run their own business, and anyone with the savings or second income to get through a slow start. It’s a harder fit if you need a predictable paycheck from day one.
Where The Career Can Lead
A salesperson license is where most real estate careers start, not where they end. After two years as a licensed salesperson, with enough experience points and a further 75 hours of education, you can qualify for a broker license, which lets you run your own brokerage or supervise other agents.
Our guide to the difference between an agent and a broker explains what changes. Many agents also move into property management, commercial real estate, or leading a team.
Your Next Step
If the upsides outweigh the downsides for you, the license is the place to start. REEDU’s 77-hour salesperson course is online and self-paced, so you can find out whether real estate suits you before you give anything else up.
Ready to find out? Browse every course REEDU offers in New York, from your first license to your next renewal.
