Everyone knows that once you retire, your income can become much more restricted. If you spent most of your life putting little to no money away, your peers may tell you that you will have to work long after retirement. Now, being a retiree does not mean that you should stop earning income. Although you may have left your busy world with the job-related commitments you had before, there are still many ways that a retiree can continue to earn income.

You have years of both life and professional experience that can ease the transition and give your insight into a new skill set. In fact, your golden years are a prime opportunity to get into a new field. Here are a few things to take note of once you’ve decided to pursue your next chapter in life as a real estate agent (REA).

1. A Relatively Easy Career to Enter Real estate provides a flexible schedule and the potential for a lucrative income. To become an agent, you must first take a real estate course, which is offered either online or at community colleges by your local real estate board. For instance, Good Institute offers a Negotiator Certification Course (NCC) and a Diploma in Estate Agency in which is supported by the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVEAP) Malaysia. After that, you must pass a national board exam. As a retired person with long-term ties to your community, or as an experienced homeowner, you can be a valuable asset for young couples and homeowners going through the home-buying and selling process for the first time.  
2. Flexible Schedules As we have mentioned earlier, real estate offers you a flexible working schedule. You are not bound to the 9-to-5 office hours. You are your own boss; you determine and set your day-to-day-schedule that best suits you and your clients. Solely due to this benefit, many retirees or even house wives are turning to real estate business. Note however that how much time and effort you put into your real estate career will determine your earnings from it, which brings us to the next point.  
3. The Sky is The Limit For Your Income Depending on the market you cover and existing relationships you can farm, it can be a feast or famine situation. Any limits to your eventual earnings are those you put in place yourself when you are a REA. How much you earn tends to be directly proportional to how much and how hard you work. That being said, the word "eventual" is the key here. You won't reap a windfall in your first week on the job. It simply doesn't happen that way, and you should be prepared to deal with that. Most new agents need a nest egg to begin their careers. REAs have the potential to earn as high as RM30,000.00 a month. They can earn even higher depending on how hard they work. Getting your first sales to come in will take some time, and it will likely be a couple months or more before you cash your first check. It can come down to your temperament and your tolerance for a little financial stress.  
4. A Career Revolving Around Community Connections Golden-agers have an added advantage compared to other demographics when coming into the real estate, which is their valuable experiences throughout the years from both personal and career. Real estate is a career that does not only foster new social connections but also builds upon existing ones. Golden-agers may be able to easily answer neighborhood questions and direct clients to community resources. They may also have a deep network of friends and acquaintances to provide personal and professional support. At the same time, other people may not be looking to build on existing connections, but rather, create new ones.

Becoming a REA requires a giant leap of faith and an investment of time and money. Thus, it is important to carefully pick out the very best institution to learn about the industry. For instance, Good Institute offers a free preview class in which you can test the waters first before investing in the program, or contact them HERE to find out more on what is offered. As the saying goes, ‘An investment in knowledge pays the best interest’.

Written by Adeela Abu Bakar.

Article information extracted from Business Insider.

Article image is credited to https://www.mortgagehouse.com.au