Pros
Awesome atmosphere to work in with a lot of great people. Everyone on the team wants to push each other to be successful. Earning potential is top notch, if you put the work in. A lot of freedom and flexibility on the day to day basis, with a lot of time spent away from the desk out in the field. You never know who you may talk to / what kinds of deals you may find which keeps it fun and interesting!
Cons
Hours can be long at times, and it's certainly not a 9-5 type of job. You will get calls, have to go to properties, attend networking events, etc, outside of standard business hours. This isn't necessarily a negative, the real estate business is a relationship based business and will require actions like these to build a sustainable network. More often than not, these things will be overwhelmingly positively to your business/results.
Your results are based on your own inputs, so if stuff isn't hitting it's on you to put in more work/time to get things rolling again.