Real Estate Agent Career vs Insurance Agent Career - Which is more suitable for you?

Updated: Mar 21


Real Estate career or Insurance Sales Career
Find out more about the similarities and differences of both careers.


A sales job - a challenge some might say, as the average mortal freezes at the idea of cold calling, roadshows or presentations to sell a product or service.


However, sales is an excellent experience that everyone should have in their life.


The courage to walk up to a stranger to strike a conversation or the ability to persuade someone convincingly are skill sets that empower you in all areas of your life.


Shyness and timidity has no place in our soul if we aspire to scale great mountains of achievements.

That said, when it comes to sales careers with unlimited income potential, property and insurance are the two that usually comes to mind.


Among the many choices out there, the real estate and insurance industry stand out as the most popular ones due to the perks of the job, such as having a flexible schedule and being their own boss.


If you are willing to work hard and smart, a lucrative journey awaits, potentially earning you a pretty decent pay-check of five to six-digit commission per month. We have seen this happening many times even for those in their 1st year of business.


And that's well around the pay grade of typical high-earning professionals like lawyers, doctors and C-Level executives who might be decades into their professions.


Not too bad isn’t it?


Well, of course, there are many who do not make it too and no one can guarantee your success in either field; but to put it in perspective, the odds are just like any other industry.


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So what are the major differences of a real estate and an insurance agent career?


Real estate agents and insurance agents are both sales professionals who focus on selling different types of products and services.


They perform many similar duties that yet has distinct differences.



Similarities Between Real Estate Agents and Insurance Agents


Age Requirement:


You have to be at least 21 years old to start.


Career Courses & Qualifications:


Being a real estate agent or insurance agent requires you to take up relevant courses and getting professional certifications and licenses.


For real estate, you would need to sit for and pass the Real Estate Salesperson Course and Exams.


For Insurance, you would need to pass all 4 papers from the SCI (Singapore College of Insurance).


Flexible Schedule:


If you are sick of the nine-to-five grind, being a real estate agent or insurance agent gives you flexible working hours.


You will be able to work on your own schedule. With that, it also means you have to work during weekends or public holidays as it is usually when your clients are free to meet you.


Income Type:


Both professions do not receive a fixed salary and their incomes are mainly commission-based which allows them to earn an attractive commission from just a few sales.


Marketing:


Apart from meeting and servicing clients portfolios, both agents are responsible for advertising and marketing their services so that they can grow their business and expand their networks.


That said, property agents usually have higher marketing expenses than insurance agents due to the need to advertise on multiple platforms.


Paperwork:


When deals are confirmed, they both need to fill up the paperwork for clients and keep records.