Income question for realtors

[Anonymous]

At a minimum, I'd like to get a realtors license if I could use it to buy/sell my own property(ies) over my lifetime. Ideally, I'd like to become a realtor for the opportunity to earn unlimited income vs. my capped sales job with a financial company.

What part of the 6% commission does the buyers and/or sellers' agent receive, what goes to the realty firm, and how do you become your own realty firm? How many years was it before you were making 6 figures and what are the pitfalls people don't anticipate?

[Anonymous]

Lolz

[Anonymous]

I would love the answer to this....

[Anonymous]

I know someone who started in real estate last year, and was on track to make $200,000 this year. I think that's extremely rare though.

[Anonymous]

If you're good the house takes only 20% or less. Newbies get less until they generate more business.

[Anonymous]

bump...looking for income answers about his. Years it took for break 100k?

[Anonymous]

Anonymous wrote:At a minimum, I'd like to get a realtors license if I could use it to buy/sell my own property(ies) over my lifetime. Ideally, I'd like to become a realtor for the opportunity to earn unlimited income vs. my capped sales job with a financial company.

What part of the 6% commission does the buyers and/or sellers' agent receive, what goes to the realty firm, and how do you become your own realty firm? How many years was it before you were making 6 figures and what are the pitfalls people don't anticipate?

Generally: 1.5% goes to the selling agent, 1.5% goes to the seller agent's firm, 1.5% goes to the buyers agent, 1.5% goes to the buyer's agent's firm.

[Anonymous]

With the proliferation of 1m+ sale prices, it seems like a great field to get into.

[Anonymous]

really, no income answers?

[Anonymous]

Income varies wildly and the 'good agents' the ones earning 6 figures plus are most likely NOT scoping the jobs and careers board. Real Estate maybe, but not Jobs and Careers. Mostly, the top agents that I have worked with were all Go-Getters. That being said, I do know agents that were in the businss for 20+ years that got hit hard by the recession. I know some agents that make 6 figures after a few years and some that still struggle after 10+. There are a lot of different factors involved. And, BTW, none of the successful agents that I know do it part time they are all in it full time.

[Anonymous]

Anonymous wrote:Income varies wildly and the 'good agents' the ones earning 6 figures plus are most likely NOT scoping the jobs and careers board. Real Estate maybe, but not Jobs and Careers. Mostly, the top agents that I have worked with were all Go-Getters. That being said, I do know agents that were in the businss for 20+ years that got hit hard by the recession. I know some agents that make 6 figures after a few years and some that still struggle after 10+. There are a lot of different factors involved. And, BTW, none of the successful agents that I know do it part time they are all in it full time.

Don't most people just hit Recent Topics?

[Anonymous]

its not that easy to make money in real estate! You're assuming they all make money, ha! Its not like a new agent gets handed business, they have to build it. Would YOU buy a home or list a home with an agent who's NEVER sold a home? as for that person who has been in the business for one year and on track to make $200K (BS), they either work for a family member, or were handed a book of business - even then its hard.

My brother has been selling homes for nearly 10yrs, he is highly respected and good at his job but he don't make no $200K - that I can assure you. And yes, he is an inside-beltway agent.

[Anonymous]

I may have the perfect solution for you,
I have small brokerage that recruits people to help them get their license and start as a part time agent

We have a program that will not cost you a single penny to get your real estate license, you can work part time and joining my brokerage will not cost you any monthly expenses either.

I created this to help people that have the passion and the personality to be good real estate agents.

People that are stuck on a dead end not utilizing their talents

People that do not have the money to pay for real estate classes in order for them to get a license.

For people that are committed to do the work necessary and be successful..

We provide free training and support

But we have a rigorous screening before we signed you up

This could be perfect for a part time job for you, if you are retired or unemployed. .

You bring the passion and the desire and we provide you the way. .

If you are interested. .send me an email for more details. .
[e-mail]

[Anonymous]

of the 6% commission, it is split between the agents on the list side and sell side, so that is really 3%, then that is split anywhere from 50/50 to 80/20 usually. starting out you would be closer to 50/50 unless you joined a team. realistically it takes a long time for most realtors to gain a big enough base so they can consistantly make a decent salary.

if you think about it, if you sell 1 a month (which would be GOOD starting out) at say, $500k (i know most sfh homes are more than that but condos are less than that and if you are starting you take whatver listing you can get) - that is $500k x 12 x 3% (if you are lucky - if you read other real estate topics people try to negotiate that down) x 50% = $90,000.

now, think about it, how are you going to get those 12 sales? most new people may have 1 or 2 up their sleeve from friends but after that you have to network and work your spere to find those other 10.... which is easier said than done. you are spending money in marketing and expenses, so i would say 10-15% of what you make goes to that too... so that 90k is more like $75k after expenses....

now, that being said, if you just want to make some extra cash on the side then maybe just 1 or 2 a year would be great. BUT you are forgetting that who the hell is going to hire you if you only do 1 or 2 a year - do you really know what you are doing ? i wouldnt hire someone like that - i would hire the people with lots of experience, so it is a cycle - need to have experience to get the clients, need clients to get the experience....

[Anonymous]

Anonymous wrote:
Don't most people just hit Recent Topics?

I never do.