Singers who need additional sources of income may view real estate as an attractive way to supplement earnings from performances. Real estate agents and brokers, unlike those who work 9-to-5 jobs, can generally determine their own hours, leaving time for auditions, rehearsals, lessons, and coachings. The appeal of the field is enhanced by TV shows like Million Dollar Listing, which portray the profession as glamorous and lucrative.
What is the truth behind the realty reality shows? I spoke with several singers who work or have worked in brokerage to find out. During these discussions, the singers identified three common misperceptions.
Misperception #1: Real Estate Is Glamorous
Tenor and real estate agent Andrew Klima likens the real estate reality shows to the reality singing shows that make singers roll their eyes. In other words, the typical day-to-day work of real estate is very different indeed from the televised versions.
Soprano Alexis Cregger, a former real estate agent says, “You bust your butt on a daily basis finding clients, finding listings, and then taking the client around—which, for a low-budget client, means running up and down a lot of stairs!” Glamorous? No.
Misperception #2: It’s Easy to Make Money in Real Estate
Sure, there is money to be made in real estate, but it typically results from major investments of time and hard work. To begin with, you don’t just snap your fingers and enter the field. As explained on www.monster.com/real-estate-careers, you have to pass state-accredited courses to obtain a license to work as a real estate agent who works for a broker. Broker licenses follow two or more years of on-the-job experience and additional classes. As for the commissions that stem from leases or sales, those are split between the agent and their broker employer.
Once you receive your agent’s license, there is no guarantee of income. You could be as fortunate as bass-baritone Stephan Ortiz, who sold two buildings in New York City in his first year as a real estate agent—but his experience is an exception to the norm. According to Gilad Paz—a real estate agent, tenor, and developer of the show OPROCK—the perception of real estate as a field where you can “make piles of money very quickly” is completely inaccurate. “It took me about 10 months, in which I made very little money, just to learn the inventory and develop a system of advertising and client relations that worked for me,” Paz recalls.
Soprano and real estate agent Alea Vorillas points out that on average, beginners make $30–$40K in the first year, “assuming they work their tails off,” but they have to subtract taxes, health care, marketing fees, and other expenses. One soprano, referred to as A.S. for the purposes of this article, remembers times during her stint as a real estate agent when she couldn’t pay an audition fee, buy groceries, or make rent. As a consequence, she incurred major credit card debt.
Such financial pressures prompt many to leave the industry. Klima offers a sobering statistic that 84 percent of real estate agents fail in their first five years of business. Clearly, most agents starting out won’t make a great deal of money—and any money they do make can hardly be described as “easy.”
Misperception #3: Real Estate Requires Only a Modest Time Commitment
“Many new agents come in thinking that ‘flexible schedule’ means ‘part-time,’” says mezzo-soprano and real estate agent Suzanne Schwing. “It doesn’t. It truly is a full-time job, and the first year is usually the most demanding.” Soprano and real estate agent Marcy Richardson has a similar perspective. “If you don’t treat it like a full-time job,” she says, “you’re not going to make full-time money.” A.S., who eventually quit real estate, found that the job was more demanding than a normal 9-to-5.
Pros
Even though the real estate industry is far less glamorous, far more difficult, and far more time consuming than television shows lead you to believe, many singers find the work rewarding. “I feel really fortunate that I have found a career where I can help people, meet new people, and make a difference and a decent living,” says soprano and real estate agent Marsha Andrews. “Singing still feeds my soul but real estate feeds me in multiple ways, and I feel very grateful!” Several other interviewees echoed her sentiments, emphasizing the satisfaction of helping people find homes.
Other benefits mentioned by my interviewees include variety (no day is the same), the opportunity to view all kinds of properties, and physical activity. Richardson, for example, doesn’t like to sit for long periods of time and enjoys being out and about during the day.
The flexibility, too, is advantageous. “I love being my own boss and having control over when, how, and with whom I work,” says Paz. “I also like being able to get up and leave for an audition or performance with very short notice, as I have no one to answer to but myself.” Singers with desk jobs rarely enjoy such freedom.
The Balance Challenge
Despite the flexible schedules, balancing singing and real estate can be difficult. For instance, Schwing finds that “the biggest apartment applications and the most complicated deals are the ones that always pop up when you have a full week of gigs.”
How do singers navigate such competing demands? “There is an absolute necessity to plan each minute of the day,” notes Klima. “I block out times to practice, coach, and take lessons. If these don’t go into my schedule, they don’t happen.” The approach of Vorillas is to sing in the car and bring her scores to closings.
Other singers feel forced to make a choice between real estate and singing. Ortiz chose real estate because it required 100 percent of his focus. Cregger, in contrast, quit real estate. “I find it’s easier to be my own boss in just one thing rather than two,” she explains.
Balance also eluded A.S. “Real estate got in the way of everything,” she recalls. “I didn’t have consistent enough money to continue taking voice lessons, clients became a higher priority than rehearsals and other singing commitments, and I became a starving artist in NYC—but without still being an artist!”
Richardson has not given up real estate entirely, but she prioritizes performing these days. Real estate, she points out, is “not some magical fix that’s going to allow you to be singing and performing all the time while bringing in money. If you aren’t performing a lot and are just working on your technique and auditioning from time to time, it can be a nice job option—but it’s not so realistic to keep a real estate business going if you are performing a lot.”
Tips
If you’re tempted to dip your toe into real estate, make sure you know what to expect. “Talk to someone who is a successful agent—really successful—and pick their brain first,” advises Klima. Schwing suggests, “Go into this business with your eyes open and do your research on things like desk fees, commission splits (that’s a big one!), and advertising costs and who pays them.”
“Be aware of the challenges in the beginning,” Vorillas cautions. Both Schwing and Paz recommend having some savings on hand to fall back on as you get started in the industry. “It will likely be four to eight weeks before you close your first rental deal—sales deals take more like six to nine months to close,” Points out Schwing.
If your real estate career takes off, your next challenge is figuring out how to devote sufficient time to your singing. “Have a policy of ‘office hours,’” Cregger offers, “because when you’re essentially your own boss, not only in real estate but also in singing, you need to be able to dedicate significant time to both pursuits. Real estate is really good at taking up your whole day. You have to make sure not to let it.”
Finally, make sure your wardrobe is suitable for your new line of work. Schwing urges newbies, “Make sure you have very comfortable shoes!”
Conclusion
If you’re seeking stability and a regular paycheck, real estate is probably not for you. Indeed, the field shares many similarities with performing careers—stiff competition and irregular income streams. Some people thrive on such careers, however, and those who enjoy the adventure of going from gig to gig may very well enjoy going from deal to deal. “It’s hard work, but I think performers are uniquely adept at working hard for very little reward and understand the importance of daily steps leading to a larger goal,” says Klima. “That’s why we are good in this, or any, industry.”
