Just like with any other occupation, the business of real estate has a lot of myths surrounding it. Some people real estate agents are devils that manipulate the market for gains. For some, real estate is a bed of roses and all agents involved are literally swimming in cash.
And then there are some misconceptions held by young enthusiasts looking to break into the field.
Jarret Willis, a veteran in the world of real estate with decades of experience and success in the field, gives some insights regarding some of the facts no one ever tells you about the world of real estate.
But first here’s a quick look at how he got his start in the industry.
Previous to moving to the Hamptons full time in 2003, Jarret Willis worked in NYC in the fashion industry. Looking back, this created the perfect bridge for what would become his next venture.
In 2007 he opened an upscale men’s & womens contemporary boutique with his wife, called “Blue One.” Fortunately, their hard work & dedication paid off and Blue One became one of the most recognizable and successful stores in the Hamptons.
In 2012 Jarret Willis developed a friendship with Zach & Cody, the Co-Founders of Bespoke Real Estate via Blue One’s Bridgehampton location. Shortly after he became convinced by these two brilliant minds, and he got his real estate license to try his hand at ultra high estate.
Thanks to the skill sets he obtained in the fashion world, along with the guidance of Zach & Cody, he was able put all of these into work and shortly into his real estate career, Jarret Willis closed his first deal worth about $35,000,000.
A Few Advice From Jarret Willis
1. There Is No Glamor
With the rate at which this misconception spreads, Jarret Willis believes the most effective way to squash it is to declare it unequivocally: there is no glamor.
Both regular folks and aspiring enthusiasts tend to hold the belief that once you enter into the world of real estate, it is pure gold and glitter all through.
According to Jarret Willis, this cannot be further from the truth. Not only is this kind of scenario only possible at the extreme end, for those seeking to break into the field, it is more beneficial to have it at the back of your mind that there simply isn’t any glitz and glamor anywhere.
So what exactly is there? That brings us to Jarret’s second point.
2. All Hardwork and Determination
So there’s no glitz and glamor, but there’s good news. In the place of glamour, we have hard work and determination. Sounds great, right? Of course it doesn’t. Thinking of the real estate world as filled with luxury is much more appealing to think about.
But the truth is, to even dream of getting an inch closer to this luxury, you have to grind and work your rears off. Jarret Willis tells us about his first time around starting out.
He was also starry-eyed and believed in the myth. Didn’t take long, though, for him to realize the only thing tangible is hard work and more hard work.
3. No more 9 – 5 but 5 – 9
What does this mean? Well, Jarret Willis summarizes it concisely when he says that, with real estate marketing you don’t have to worry about being restricted by the 9 – 5 office routine.
You’re basically self-employed and are free to plan your time according to your routine. But, usually, instead of working all through the day, you’re now working all through the night.
Why is this so? Because work is always on your mind, of course. There’s no salary to return to. If you don’t work, you don’t get paid. And that, Jarret Willis says, will always find a way to keep you working through the night.
4. People Will Try to Bring You Down
Sadly, the real estate world is a very competitive world. It’s just how it is. Every industry has its dark side and this is one in this particular case.
According to Jarret, enemies disguised as friends will try to bring you down at every turn. It’s up to you to be vigilant and smart. That’s one of the keys to survival in the game.
5. You Will Feel Like Giving Up Everyday
There’s a security which other salary earning jobs offer. With real estate, you don’t get to have it. Sadly, when starting out you’ll probably crave this security and feel like quitting everyday. Jarret Willis did too. But looking back, there’s no doubt he’s glad he stuck to it. Everything pays off in the end and there’s no better feeling.