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Additional Details
Also, are they usually ... |
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Rickyxlnos | Is being a real estate agent fun? how much do they get paid? |
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Laurin Jeffrey
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It can be fun, depending on how you look at it. Many people are scared off by the fact that it is 100% commission based, you don't get paid a salary. So if you don't make sales, you don't get paid.
Being able to work your own hours is a nice bonus, no 9-5 as a general rule (unless you get into commercial real estate, but that is another story). But that also means that you tend to work when other people don't. So be prepared to spend your evenings and weekends working.
You also have to get your name out, something that comes out of your own pocket. And getting started can be hard, as you have to spend money before you are making any. When my wife started in real estate, it was a good thing that I still had a full time job, since we spent more on advertising in her first year than she made.
But business has gotten good enough that I have joined her, getting my licence in 2005, and we now do it together full time. That helps, since we work the same hours, but if you are married, then you may be working the complete opposite schedule to your spouse, which can be hard on both of you.
But if you stick in out (be prepared for at least 3 years before becoming profitable) it can be very rewarding. I love meeting all sorts of different people and helping them find their new homes or sell their old ones. The thrill of the chase can be exhilirating, but the let down of missing a deal can be hard. Each paycheque means more than salaried jobs, so losing one is major. But each one you do get is a great feeling.
Working for yourself, which being a real estate agent is, can be very rewarding, but it can also be very tiring and frustrating. I am sure you will get a range of responses here, which can help inform your decision.
Even better, talk to some in person, go into a brokerage and discuss it with them, see what they say. Just be prepared for what you might be getting into!
Good luck :)
Laurin Jeffrey
Jeffrey Team Real Estate
www.jeffreyteam.com |
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Skip
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I find real estate to be an exciting career field. Your earnings will depend on how much you put into your career. An excellent real estate agent should earn above $45-50K the first year and more in the second and succeeding years.
If you sit at your desk all day and complain about how no one is accepting your offers or you can't get any listings then you are gonna be feeling sorry for yourself and not having fun. Stay away from others that are in this condition. They don't want to be successful nor do they want anyone else to be successful.
But if you have a great marketing plan, get the hell out of the office, meet people, join local groups in your area that you are interesting in. Get to know others that want to be successful and will assist you in your success as well as you help them in their success you will be in pretty good shape.
I hope this has been of some help to you, good luck.
"FIGHT ON" |
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frankie b
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I find it fun, but it is not any easy job. You have to work very hard to make the top dollar in this business. Anyone who tells you different is not making money.
Remember most agents make very very little. There are a few of us, about 10% of the agents who make the real money. Most have a spouse to support them.
Good luck,
RE Agent,
Remax |
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SA Writer
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Depends how much you like driving people around and how interested you are in selling. Agents are paid a percent of what they sell and list. For example, agents typically work for a broker. The listing broker/agent split a 3% commission and the selling agent/broker split 3%. So, it all depends how much you list and sell as to how much you make. |
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A_Kansan
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It should be noted, that the majority of agents do not make enough to live off of. Of course, the majority are wives and mothers who use the position as a flexible part time job.
Your pay depends on the area and how hard you work. Usually the listing broker is paid 6% of the sale if they make the sale. An agent working for the broker usually gets half of the commission.
If the property is multi-listed, and the selling agent is from a different brokerage, usually the commission is split down the middle between the two brokerages. The selling agent will get anywhere from 1/3 of the commission (1% of total sale price) to 2/3 of the commission (2% of the total sale price) with the remainder going to the brokerage.
However, there are discounts as well. Sometimes the seller will want a discount from 6% to 5% or even 4% for the commission.
Different areas split the commissions differently.
Good Luck |
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Real Estate Para Legal
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It is fun meeting people and seeing all of the houses....BUT...we earn only when we sell and currently the market is slow...so there is not a lot of money out there.... |
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KathyS
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Fun? No. It's alot of work to make any money. How much they make depends how much they sell. There is alot of competition out there so it's tough. |
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Jay S
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The first question: Is being a real estate agent fun? is subject to personal opinion. I've found it to be the most enjoyable career I've ever had! Your second question: How much do they get paid? is a little more difficult. As an agent, you get a commission on properties you list for sale, properties you find buyers for and properties you buy and sell yourself. You also get a profit from investment properties. On commissions, it it typical that you will split the commission with a broker. If you don't split the commission (i.e. a 100% office) you'll pay office fees, marketing fees, etc. that will make the broker the approximate income that you would pay in a split. That said, you also pay for the purchase of marketing materials, advertising, mailing, and anything you do to market a property or to get your name out to the public. You also have to belong to a multiple, the Realtor association and a local chapter, all of which cost money. Finally you have to pay for gas to take buyers out to showings. Some companies will pay for generic signs and some marketing, but don't be fooled - you'll usually end up paying for it in other ways. As a beginning agent, the more people you already know the better, so start collecting names, emails, addresses and phone numbers. When you start, you'll want to contact as many as you can. Real estate is a numbers game. Over time, you'll have contacted more people, and the more you get to think of you when they think about real estate, the more money you'll make. Most people go into real estate thinking it's easy. We make our new agents commit to a 60-hour week for the first 3 months. The average agent with at least 12 deals a year works 50 hours a week. We're in control of our schedules so we can attend our kid's games and auditions, but we still have a job to do and it takes time to do it. Finally as to how much we get paid, commissions are negotiable. The better you are the more business you do. The more business you do the more you make. You can do allright in real estate sales, but the real wealth comes when you start making investments. |
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Karen
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The Real Estate business is generally pretty boring BUT the income is awesome. |
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