2006-11-13 16:32:02 · 12 answers · asked by Paul S 2 in Business & Finance ➔ Renting & Real Estate
No.
The average fulltime Realtor made $56,000 in 2004. But it is also true that:
1) There is a high job turnover for new agents - which probably means they arn't making much.
2) There is also a large number of part-time agents.
Taking those people out of the equation, my guess (as a Realtor of 25 years) is that the average jumps to $75,000. But like in any field the top 20% make the lion's share. I would guess that the top 20% make (gross by the way) $200,000. That spread between the top 1% in the $millions per year down to $120,000.
With the bottom 20%, excluding the part-timers and the new agents, I would say the average is $10,000 and running from zero to $15,000
2006-11-13 16:50:18 · answer #1 · answered by sunshineseattle 1 · 0⤊ 0⤋
No, it is not true that 80% of the agents don't make enough to live on. About 90% don't.
Too many people like Steve S actually do think it's an easy job to survive in, quit their day job and start working in Real Estate. They become their own boss, and their boss doesn't know how to run a business.
It's actually a business you open up. To many people get into it because it doesn't take alot of capital to open this business, and watching a good Realtor work, it should LOOK easy.
For self starters, and disciplined people, you can make a living. Sometimes the rewards are even financial.
2006-11-13 18:29:17 · answer #2 · answered by teran_realtor 7 · 0⤊ 0⤋
Well, I would say yes, but you have to remember that the field of real estate has ALOT of part time agents in it that have their licenses for multiple reasons, other than just using it to make a living.
It is not so easy as some responders think. An agent doesn't get paid unless a home closes. We don't get paid for showing homes, marketing, making all the phone calls and follow up, making listing presentations, being available pretty much 24/7 to our clients, and those are just a small number of things that we do in a day. In fact, I just finished working for the day nd it's 1:00AM here!
I work in a pretty large office, about 115 agents, and the top 10% of the agents make about 85% of the income in the office, the rest is spread out among the others. It takes years to get to the level of being a top producer, and you have to plan on having quite a bit of money in the bank in order to make it through the rough times.
Now don't get me wrong, not all agents work this way, but that's what it takes to get to the point of eventually being a top producer and being in that upper portion of agents. It can be very lucrative, but it takes alot of work and alot of years to get there.
2006-11-13 16:55:43 · answer #3 · answered by julsells 2 · 0⤊ 0⤋
Most real estate agents make enough to live on even if they sell 1 home per month. Besides you don't even have to be aggressive to make any money. If you list a home an another agent outside the company you work for sells your listing you make money. I wish I could make money sitting on my butt. Most real estate agents I know are lazy and still make money.
2006-11-13 16:41:27 · answer #4 · answered by steve s 3 · 0⤊ 0⤋
Probably, because most real estate agents go into it when the booms hit thinking that it's easy money. Just like any business, you have to sacrifice a lot up front and be smart in the beginning.
2006-11-13 16:34:36 · answer #5 · answered by TrainerMan 5 · 0⤊ 0⤋
Your truly property agent is proper. $50,000 won't purchase a lot in LA. Actually, vacant tons opt for extra. A lender won't wish to place up $30,000 on a work of estate that can not be bought for those who default to your mortgage. Chances are it could be a "tear down" which would possibly enchantment to a coins investor, however to not a lender.
2016-09-01 12:11:58 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Hmm, I suspect this is false - otherwise they would all be quitting and doing somethng which DID enable them to carry on living!
I suspect this is a bit like the farmer (always tell you how poor they are) whilst sitting on several million pounds worth of land, with hundreds of thousands of pounds worth of machinery.
No, I think you will find that most agents are able to put jam on the table as well as bread and water ;)
2006-11-13 16:35:59 · answer #7 · answered by Mark T 6 · 0⤊ 0⤋
I don't think so. All the real estate agents I know have money coming out the wazoo!
2006-11-13 16:34:41 · answer #8 · answered by Anonymous · 0⤊ 0⤋
absolutely. Actually, that is true for most sales jobs. A lot of agents work part time while maintaining their REAL job.
2006-11-13 23:38:02 · answer #9 · answered by Anonymous · 0⤊ 0⤋
It takes a certain type of person to be good at it, and you make next to nothing for at least a year.
If it were that easy, everyone would be doing it.
The successful realtors I know are always on, always networking, etc 24/7.
2006-11-13 16:35:50 · answer #10 · answered by Anonymous · 0⤊ 0⤋