Life & Health Insurance or Real Estate?

Question

So, I finished Real Estate school and I started studying for my test. I live in Dallas, TX and from what I've heard the market isn't that great....even in commercial. I was told to get into Life and Health insurance. Does insurance have better hours and pay? Is insurance easy to sell? Not sure which path to take.

Answer 1

Either path is very similar.  You work the hours your customers are available, which is probably not 9 t 5...You work those hours too, but then you have to work evenings and weekends too.  You have to generate your own leads in most cases.  You have expenses because you're an independent contractor.  Try talking to your insurance agent and see what he thinks.  Many times you don't get a commission when you sell a policy, only when you renew it.  My brother-in-law's company went under, and at his new job he had a very hard first year, although he had all his old customers come with him.

I sold real estate and my uncle sold insurance...and we both worked our butts off.  Remember there are no employee benefits in most cases.  You'll have to get your own insurance.  I temped at a financial services company in the benefits department about 5 years ago, and their agents paid a fortune for medical insurance, no company subsidy.  For me, that would be a serious consideration.  You must be a real self-starting entrepreneur to succeed in this type of business.  You have to be willing to work constantly and hard, doing what other people are not willing to do.  You have to make cold calls and pound the pavement, every person you meet is a potential customer.  You can make a pile of money, but you have to have the right kind of temperament and ambition to make it.  I didn't.  I want a paycheck and medical insurance and a pension.  My uncle did ok, but his 87 year old widow is running out of money.

Answer 2

Since you are worried about pay real estate is not for you.    There is no pay, commissions only, and there are expenses.   You would expect to have negative income for at least a year.