Do Real Estate Agents get paid a lot?

Do they get paid enough to buy a very big house?

They are not paid anything. They are commission only.

As with any commission job, you decide your own income.

they can make enough on a few big sales plus they have access to all the good listings so yes they could very easily by a big house i wish i had my license

Getting paid a lot. Now that depends on what you call a lot.

You have your super stars, your middle of the road players and then you have those that are bottom feeders.

Getting a lot depends on how many houses that you sell from your listings or from others listings.

Selling one house per month might place you in the category of just being able to pay your monthly debts and mortgage.

Selling 4-8 houses per month might place you in the super star category, thus you are earning a lot more than most real estate agents.

Then selling a house in California or other high cost areas would earn you more than selling a house Mississippi or Alabama where the houses cost less.

Then there is the commission split you negotiate with you broker. Those that have a commission of 50% or more would earn more than those that earn a commission of or 30-40%.

So there are many variables that have an effect on you earning a lot of money being a real estate agent.

Most would earn enough to qualify to purchase a house.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Yes and no. I did Real Estate for 3 years. I was an Insurance Agent by trade so I had great sales experience. Plus, I lived in the area for 25 years.

If you can attract listings (very important), you will do less work because it is relatively easy and less time consuming to do the paperwork necessary to list a house. Then you sit back and wait for Realtors to bring you a buyer. Of course, you are going to be getting calls on your houses from other realtors who want to schedule appointments to see your houses so you will coordinate with your seller. You will also be getting calls to see houses so your time will also be spent driving people around.

Why do you want listings? Well, it will have more of a guarantee of income. If you have 10 houses at all times on the market, you are at least guaranteed that 8 or so will sell.

If you are more of a Sales Agent, and you don't have many listings, you will work 10x harder. You must attract the buyers for the homes. That is a lot of work because you are driving people all over town only to have them buy a house from another realtor when you happen to be at a birthday party and unavailable. Happens a lot. And, you have to qualify your buyers and do research of the house they want. You will have to stay on top of new listings so that when a house your client wants, you are first at the gate.

Now lets talk money. In California the standard sales comission is 6% of the sales price. However, new agents usually pay a broker fee to their boss (who's broker license you work under) of 60%. For easy example: $100K sale= 6,000 comission. Broker gets $3600. You get $2400 of which you must pay Taxes (15% minimum) and Disability Insurance (a Must) and also overhead such as: Newspaper advertising (expensive) phone bill, office supplies, gas (very expensive) just to name a few.

So, my best year I sold $60K but after all my expenses I cleared 24K. This was so not worth it because I worked 60 hours minimum per week and received calls always when I was grocery shopping, cooking, at parties, you name it- I had no free time.

I found that the only realtors making a killing were "seasoned realtors" who had been in the business forever. They had Secretaries that kept track of all their sales and sent out birthday cards and contact cards regularly. They stayed in touch with Mortgage companies, Insurance companies, etc. They had already established quite a Network of people that will be virtually impossible to break in... they have tight comittments!

I would only do this if you know of another seasoned realtor that is willing to take you under their wing and work beside them.

I hope this helps... and remember one thing- If Real Estate companies are hiring, then sales are not good!!! Brokers need to have paying realtors at desks (renting a desk) when sales are down. The more realtors in the office, the more rent checks collected.

depends on how good of a salesperson you are

depends they get paid a fixed salary then they earn a commision on what they sell, so if you sell a lot of big houses you're gonna have a lot of money to buy a big house for yourself

It all depends on how much they sell. I know that my realtor gets 6 percent of the sell. He has to split some with his broker though.

It all depends on their personal efforts.

more then fake estate agents

Real Estate agents do not get a salary. They get paid based on how much they sell. Just like some stores go out of business and others seem to be very successful- that is the same with Real Estate agents. They are in business for themselves and have lots of expenses even if there is nothing selling.

Real Estate Agents do make a pretty good amount of money. It all depends what area you are selling in because the agents make a certain amount of money off of what they sold the house for.
You can be very successful and yes, you might just be able to buy a big house.

In Victoria, Canada they make about 15000.00 per house they sell. My agent sold 5 houses in the six wekks my house was listed with him that I know off. 75,000.00 in six weeks is not too bad.

He made 14,000 off of mine.

Heck yes.
Dirty rich.

NOT IN THIS ECONEMY THEY DONT BUT WHEN THE MARKET ROCKS YOU COULD MAKE MILLONS AND MILLONS SO GO BE A ESTATE AGENT

K.B

as a matter of fact they do becauce they sell homes for big money and then get big money for selling them which make them able to buy big houses!!!!!

Enter Your Message or Comment

User Name:
User Email:
Post a comment:

Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.124
Copyright (c) 2011 Financial Crisis Monday, May 28, 2012 - Terms of use - Privacy Policy