Reply to S/O how many degrees do you have and what is your personal salary?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]BS economics MS finance.  Burned out and now a real estate broker  2013 made around $850,000. On track to do similar or better this year.  [/quote]

I am interested in becoming one, where do you suggest I start?[/quote]

Just for the record, for every agent that makes over $100K per year, there are tens of thousands of agents who are making under $30K per year, some as little as $20K per year.  Be very careful about going into real estate as a get rich career.

Think about it, if you sell $1M worth of real estate, you are only making about $30K per year.  And while so many people imagine the expensive homes of the upper middle class that are selling for $600K to over $1M, those sales frequently go to the more experienced.  The less experience sellers are selling townhomes and condos for $200-300K.  That and now that the redfin model is catching on, the opportunities for the bottom of the totem pole real estate agents are even fewer and farther between.  My mother has been selling real estate for over 30 years.  The number of people that leave because they can't support their families is well over 50% of those who try their hand at it.  It's hard work for a small salary and you can expect that it will take you 3-5 years to get to the point where you are doing average/comfortable unless you have a built in lead (like you have a club of people looking for a good agent) but you better be able to deliver quickly or they'll quickly more on.  It's a fickle business and most customers want the bottom line.  Sellers wants to sell for top dollar and give as few concessions.  Buyers want to buy for as little as possible and get more concessions.  Sometimes you can't get the two sides to agree.

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