Myth Busting: Real Estate is NOT a Great Career for Artists, Actors, Entertainers!!!!

I hope all of you starving artists who think working in real estate would be a good day job--the kind of job that will keep food on the table, the rent paid, and your financial worries at bay--get this memo in time. Please pay close attention: Real Estate is probably the worst career for people who don't have steady work or cash flow to begin with.

Of course, ignore the above caveat if you have a lot of money in the bank and/or a partner, spouse, or Sugar Daddy/Mamma to support you. If you're trying to claw your way up without much (or any) help, please consider this entry a public service annoucement.

This propogation of this "artists as realtors" urban myth has been eating at me for some time. It's everywhere, and it's dangerous. Like a tabloid story about Lindsay, Britney, or Saint Angelina, they start with a grain of truth, and then blow things waaaayyyyy out of proportion.

The thrust of the articles, as per industry trade mag The Real Deal:

In fact, many arts professionals are drawn to the real estate trade for its flexible hours and promise of greater financial gain. Also, real estate and the arts are both industries where individuals are largely responsible for their own success.

I about fell out when the article talks about how Diana Ross's daughter Rhonda moonlights as a Citi-Habitats agent when she's not on the road singing. Fer Chrissakes, she's Diana Ross's daughter. I'm sure her mom can and will pick up the slack if both her realty and entertainment careers hit rough patches. How many people do you know of personally who have that sort of safety net? (And of all firms to work for, I can't believe she's at Shitty Habitats. But I digress).

The Village Voice ran an article a few years back about this topic. The gist of it: "Real estate is such a great career for actors. They can show apartments and also go to auditions because of the flexible hours. Blah Blah Blah." Sure, that's all fine and good, but what if they get turned down for a "sure thing" acting gig, and fail to close any deals that month? Then what?

Other media outlets have jumped on this stupid wagon. The above-mentioned article featuring Miss Ross appears in The Real Deal ("Artists drawn to real estate careers") in its February 2007 issue. And I could swear The New York Times has reported on this, but their search engine sucks, and I'm too lazy to dig out the article at this moment. If anyone is actually reading this and finds that article, please post a link in the comments area.

At any rate, I feel these reports are dangerous and misleading. Sure, there may be a subset of realtors who enjoy enough success in this business to be able to pursue things like acting, singing, visual arts, and so on. Perhaps there are entertainers and artists who have a level of success, time, and money, and they are able to devote some time to real estate, a la Miss Ross. Good on them.

But, in general: To make money in this business, you have to either be very lucky, or very patient and persistent. Several agents I know didn't close deals until several months after they started working. If you're in sales, any honest manager/broker will tell you that you might not close a deal for six months. It took me a couple of very long, agonizing months to close my first deal--a measly rental. Then I had to fork over a significant chunk of my commission to the shady owner of the property.

Yet that entire time, I worked like a dog. I came into the office six and seven days a week, and was also out with clients six or seven days a week. Agents who don't work weekends, or at least create the illusion that they work every day, will get the hairy eyeball from their boss, possibly worse. Things like grocery shopping, house cleaning, and cooking get shunted to the side.

So basically you have no life when you start out in this business. No life, and very likely no money coming in. Forget about groceries and rent...Where are you supposed to find the physical and psychic energy to be creative if you're constantly drained, broke, and working for little or no pay?

This is my roundabout way of saying: If you think real estate could offer a fun, flexible job and quick money, you're better off waiting tables. You'll be on your feet just as much, probably dealing with fewer jerks, and scoring some free food. At least you'll earn money for every shift you work, unlike in real estate, where you can work on closing a deal for days, weeks, and months, only to have it implode at any point along the way. Then the boss will bitch at you for not being in the office on say, a Sunday. What do you have to show for all of your hard work? Maybe a few lessons learned and war stories you can laugh about one day with your friends, once the pain of it all has faded.

Those who are enthusiastic about and dedicated to real estate should by all means go for it. But don't expect easy money. And if you make easy money, thank whatever deity you accept.


For all of you artistic types out there who are simply looking to pay some bills while doing your arty thing: Why compound one career rife with rejection and financial dry spells by taking another that's, uh, rife with rejection and financial dry spells? From The Real Deal:

And it's possible that the thick skin artists
develop serves them well in the real estate business. "There's a tremendous amount of disappointment and dead ends in real estate, but it's nothing like what you run into in the acting business," said Eric Rath, a broker with Bellmarc Realty. Over almost 20 years he has landed gigs in television, film, theater, teaching and helicopter traffic
reporting.

Oh well, for all of my teeth-gnashing regarding my line of work, at least I can say I was smart enough not to become an actress. Or a helicopter traffic reporter.