CPA becoming a RE agent?

Question

Hi there! I currently am a 4 year senior tax associate at a Big 4 accounting firm. I have my CPA license and have done taxes for mostly very large investment firms that invest in companies and I’ve also a lot of work with private equity real estate firms. But I feel like my personality is being destroyed as a CPA. I am a huge people person and thrive off of human interaction and connection. Clients and management essentially want robots to crank out returns and workpapers. I need to pivot careers ASAP. I love the prospect of being an agent! It checks every single Box I’m looking for. I know starting out can be very rough, so I’m looking for as many professionals to connect with as I possibly can and any advice you all might have for me!! Currently in the greater Austin TX area and an investment property in San Antonio.

Basit Siddiqi · Answer

@Tanner WoolleyI worked 4 years at PwC and 1/2 a year at EY in the NY office within the Tax department.The roles change as you progress in your career.As you start out, much of what you to is the 'grunt work' I.E. reviewing workpapers, reviewing returns, answering manager calls telling them what you are doing, answering questions from new staff, etc.As you move up(manager and above), your skills are more personable.You do planning/staffing between partners and other managersYou jump on calls with clientsTraining to senior associatesBudgeting with partnersI ended up eventually leaving public accounting as I didn't feel like it felt with my personality.Best of luck on whatever you decide to do.

Sean Sloop · Answer

Hey Tanner - sorry to hear that about your current role! I use to work in Big 4 Consulting and could only take that line of work for 2 years.

If you are concerned about diving head first into a commission based job, could you find a better 9-5 role that would allow you to juggle both Agent and W2 while you get use to being an Agent?

I am currently doing the same thing since and got a good WLB W2 and do the Agent work on the nights and weekends (and sometimes during the day, dont tell anyone). Its not ideal as I have already run into scenarios where the W2 has gotten in the way, but I am not in a good position to jump into full commission role just yet.

Best of luck!

Wale Lawal · Answer

I completely understand where you are coming from. I have an engineering background in the Oil & Gas Industry. I left that to become a real estate agent & I love what I do.

Ryan Kelly · Answer

@Tanner Woolley you know my feelings! I recommend investigating both a small, investor-focused CPA route along with the real estate route. I think you will find more rewarding avenues in either of these directions versus working for the "big box" brand that doesn't let you work with the clients you desire. Let the exploration begin!

J Zev J. · Answer

@Tanner Woolley - the Big Four can be a grinding experience without practical knowledge for everyday tax applications. Maybe it's different, but I imagine you might have worked on a few line items on a big corporate tax return. You can get better connections to real estate as a CPA by working with a smaller/regional firm that works with real estate investors. I had that experience in Denver, which worked well, but it's still a grind during tax season. At least you'll still have the summers to work on real estate.

Jordan Moorhead · Answer

@Tanner Woolley I'd love to answer some questions if you have any! They great thing about being an agent with your background is you could try it and just go back to being a CPA if need be.

Bruce Woodruff · Answer

Sounds like a good fit for you! Go for it.....

RE licenses are relatively easy to acquire and then you will need a Broker to hang your license with. A big office may give you more overall support but a small office may be comfortable to start....

It's a good industry to get into......good luck!