I have a couple of friends who started doing this 2 years ago...he's apparently on pace to make 150k this year. He has about 10 loan officers working for him at the moment. He's trying to convince me to get into this field. This seems like a large amount of money making having recently started out. Is this possible?
2006-12-21 07:34:36 · 8 answers · asked by mu 4 in Business & Finance ➔ Careers & Employment
Yes. Easily.
Selling real estate, or selling anything for that matter, is just a matter of making the sales.
With real estate, you don't make very many sales, but the commission is very high per sale. If you were selling cars, you'd have to sell more cars, but could still make the same kind of money, and so on...just depends on the volume of sales you make and the profit on each sale.
Your friend is telling you the truth, though. 150 and more is very doable - you have to be prepared to live the sales lifestyle, though. Your weekends will disappear forever, and you'll be selling all the time, even in the grocery store and in church.
Think on that before committing to it.
2006-12-21 07:39:36 · answer #1 · answered by Stuart 7 · 0⤊ 1⤋
Realtors dont have loan officers working for them, mortgage brokers do.
Realtor income varies widely, with the highest earners being in the most expensive areas (Like California or Metro NY). However, if your friend makes 150k this year, it would place him in the top 5% of all realtors nationally.
2006-12-21 15:37:59 · answer #2 · answered by Anonymous · 1⤊ 0⤋
you need to understand the different ways Brokers make money off realtors. #1- by desk fees, #2 by commission splits. The commissions are huge in real estate and mortgages.
I am looking for realtors and will not charge these charges. I have a great business plan. We need to talk so I can explain more.
2006-12-21 15:38:06 · answer #3 · answered by northville 5 · 0⤊ 1⤋
Exactly, there are different ways and amounts to make in real state, but it is worthy, on average people make over 100K a year.
But yes, you will be selling on every conversation you have and you will dream it too, but it´s a good thing not only for the money but most of the time you manage your own time as well, specially if you have kids.
2006-12-21 15:50:15 · answer #4 · answered by copita 3 · 0⤊ 1⤋
Ya. You do the math...Real Estate Brokers make abot 6-7% on the sale of each house they sell. If they sell 10 haouses a year that sell for $200,000 each, which is very conservative, they would make $130,000
2006-12-21 15:37:51 · answer #5 · answered by jim 6 · 0⤊ 1⤋
There's a big difference in if it's his TAKE HOME PAY or the companies NET PROFIT.
$150,000 profit FOR THE COMPANY isn't that crazy or even that great, but after paying your staff, your office expenses, etc., the company doesn't TAKE HOME $150,000. It's $150,000 minus expenses.
The average realtor (not broker/owner) doesn't make $150,000. Income varies GREATLY.
2006-12-21 16:04:32 · answer #6 · answered by ty 3 · 0⤊ 0⤋
sure, it's possible. it's all about how you get the property, are you the only agent working on it, what kinds of properties etc....
talk to him about it. ask him to SHOW you how it can be profitable and what he has to do on a typical day to make the bucks.
many real estate agents make o.k. money and some make good money and some make crazy money, but that's in high end real estate.
take care.
2006-12-21 15:42:06 · answer #7 · answered by joey322 6 · 0⤊ 1⤋
Some win big in it, some lose their azz. The market is crap right now. Depends on where you live.
2006-12-21 15:36:19 · answer #8 · answered by CJ 6 · 1⤊ 0⤋