how much money can I make as a real estate agent?

Answer 1

The real estate world is one of the most divergent businesses around. In almost any activity in life, the 80/20 rule applies: 80% of the goods are earned by 20% of the people. (Also, 80% of the value in a project is created by 20% of the effort, it takes the other 80% of the effort to get things finished.) In real estate, the split is 93/7: 93% of the money is split between 7% of the real estate agents.

There are a lot of reasons for this:

-- It's sales, either you're motivated and getting the job done, or you'renot
-- A lot of people do this part time for their own homes and those of family members
-- There is a lot of competition out there
-- Real estate businesses take years to build a recognizeable reputation (vs. most other businesses can do it within a year)
-- Without a lot of transactions (one or two a month for most full-time professionals), one bad deal can really change how much money is made during the year

If you want to make it as a real estate agent, I'd give you the following pointers:

-- Shop your first broker VERY carefully. Make sure they've got a system for you to implement, make sure you're going to get a mentorship program, and make sure that other new agents you interview at the brokerage got the things they were promised.
-- Be sure you have a decent sales approach. I recommend The New Conceptual Selling (a good book on sales management) and Prospecting Your Way to Sales Success by Bill Good (Kind of corny, but a day-by-day approach to prospecting--which is very different than selling, by the way)
-- Be sure you've got an income for the first year or so. Maybe a spouse can work, some money is saved up, something like that
-- Be sure you have a niche in mind before you start (a specific neighborhood, investments, commmercial (which has many niches involved), new construction, sellers only, buyers only, etc.). Stick to that niche only and refer all the other business to others in your brokerage (you'll get a split on what they are good at, and you'll spend your time getting good at your one thing)
-- Surround yourself with the most competent professionals (have two good mortgage people, one that does most everything for you FAST, and the other that only does HARD deals; an escrow officer, and an appraiser). You'll work with others, but if you know who does their job well, that will save a lot of your own time from saving deals that others were messing up.

I worked the business for a while, got out when the ups and downs were too much for me, and found that the things I was working on came through eventually. I'd be much more secure financially today had I stuck with it.

Feel free to contact me through Yahoo! Answers if you have any follow-up questions.

Good luck!

Answer 2

The sky is the limit! But you better have 6-10 months worth of expenses set aside for commission work in real estate even in a hot market is slow to come. You will have extra expenses with auto and advertisements etc. So go in with your eyes wide open and not looking through rose colored glasses. Remember that the deal is not done till all parties sign. So with that said, the appraisal, the termite letter, title and the financing all have to be in place. Any one comes back bad you loose all that time and effort. Be down to earth and not snooty as many agents are and don't worry these parties that have to get your other parts of the puzzle together and you can do well.
Good Luck!
Selling is exciting!

Answer 3

Let me answer with this. For what ever time that you put in to your selling real estate after a time you will top off and not be able to go any higher because you are trading time for money correct? Now consider this, leveraging your time. Using less time and making more then walking away from it and it still continue to grow. This is B Quadrant thinking. Ask me how and I show you.

Answer 4

As much as you want. There is no cap, just lke any sales business based on commission. The correct question is how much you can realistically make as a new real estate agent based on criteria such as:

Geography
Market trends
Interest rates
Your focus on home values (and peoples income levels.)
Ability to qualify buyers without wasting yours and their time.

Answer 5

Real estate is in demand so you can do well.

Answer 6

you keep asking the same kind of questions
if you apply your self any amount you like