Does a real estate agent make good money?

Question

I am going to take the classes in a couple of months and want to hear from experiened real estate agents before I do it.

Answer 1

YOu have to close deals or you wont make any money-- but you will PAY hundreds of dollars for insurances, MLS fees, REALTOR ASSOCATION FEES, class fees, etc.

Typically a home lists at 6-7%. That is split between the listing OFFICE and the selling OFFICE. Selling office (buyers agent) almost always get 3% regarldess of what the total percent is.

Say you are the buyer's agent, and you bring a buyer to a home that is listed at $200K. You make the sale. Your office gets $6000. You likely get about half that, and your broker gets the other half. So you pocket $3000, but you have to save some for income tax. (20%). So you really pocket 2400.

That'll cover your startup and give you a little pocket money to get to your next sale. Usually as you make more sales, your broker takes less of the sale. You HAVE to produce or you wont even break even.

Answer 2

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Answer 3

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Answer 4

Yes, a real estate agent can make good money, but not everyone is a good real estate agent. When working on a 100% commission you need to work on a budget and have at least $100,000 cash reserves to fund the business and live off of. This is because it will take you a while to build up your clientele. Ideally, you want to sell one house a week. But it will take time for you to get there and those bills will still have to be paid. Don't count on friends and family for help building your business. If you do get help from them you are lucky. Most will think you are crazy because you have the guts to work for yourself. I would suggest having a part time job as well.

Answer 5

Real estate agents enter the profession from all walks of life. Some become a real estate agent for the money, while others are attracted to the glamor, excitement and challenges of selling property. For many, a real estate career offers the opportunity to be your own boss, and that reason is a motivating factor for those who want to get out from under the thumb of corporate America.

Answer 6

No, its never enough considering the hours put into a transaction. Also, mortgage rates are going up and not as many people will be purchasing as they have been in the past 5 years. This will make it difficult for you as a new agent to compete. Although your commission might look good on paper, you have to expend a lot of time and money in advertising homes, yourself and gas. These are emotional purchases and for some people the biggest purchase they'll ever make therefore buyers and sellers are a major pain in the butt. And at the settlement table they always complain about paying you your commission (in some cases you had to negotiate down in the first place.)You will have to work very hard to be successful and the job is very stressful on you and your family. Go work for a corporation and get a paycheck every two weeks, benefits and a sense of security.

Answer 7

This Site Might Help You.

RE:
Does a real estate agent make good money?
I am going to take the classes in a couple of months and want to hear from experiened real estate agents before I do it.

Answer 8

It depends on your ability, circumstances, business area, and your expertise.
With you business analysis and knowledge you can make a bright future as an real estate agent. there are so many people who has made a bright future in this field. Few are listed below:
Kevin Parson: Director at Parson Ltd
Marc Wood: Director at Taylor Milburn Braintree Beranch
Andrew C M Oulsnam MRICS: Chartered Surveyor & Director at Robert Oulsnam & Company
Julie Powell Senior Administrator at at Robert Oulsnam & Company
Martyn Stables: Director at Look Property Services Ltd
Steve Barrett :Director at Look Property Services Ltd

So its not a bad idea.

Answer 9

I'm making good profit with a binary option signal software called "autobinary signal". It's great!!
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A binary option is a contract between two parties in which one party (the buyer) pays the other party (the seller) and in return the seller will pay the buyer a fixed amount of money (or some other asset) if a specified event happens. The event can be anything, but with financial products it is usually based on the price of some security or index at some point in time in the future.

Answer 10

Well, yes you can. But it takes time and money to get started in this business. You must understand that this is like starting your own business. You need capital to get started. You will still have all your own personal expenses, i.e.; taxes, insurance, car payments, house/rental payments, etc. Then you'll have expenses for business cards, signs to get started, any advertising you do, you pay for. It may take up to six months before you see your first commission check. If you haven't paid any expenses up until then, they take it out of your commission check, not to mention that you don't get the entire commission, most places have commission levels (50/50, 85/15, 90/10) etc. Most new agents start out at 50/50 split. So if the commission to your broker is $6,000, you'd get $3,000, then you'd have all the personal expenses and business expenses to pay out of that.

If none of that scares you, then good luck! I just hope the market in your area is still busy, most places aren't right now.