Tomorrow I start a real estate class hoping to become a realtor part time until I am making enough money.
I have a friend who took this same class and automatically started getting commission as soon as he sold his 1st house which was about 2 months after he started working for this firm. I have another friend who works for another firm and shes been telling her boyfriend that you become eligible for commission after you complete 2200 hrs with a real estate company. Is this true? Or is she just saying that? Or do some companies require that you complete a certain amount of hours before getting commission?
Let me know... thanks!
2007-02-02 08:52:42 · 9 answers · asked by ♥ Sweetpea 2 in Business & Finance ➔ Renting & Real Estate
2200 hours sounds like the amount of time a real estate appraiser must "apprentice" with a certified appraiser, before they can go out on their own.
If you plan on selling homes, you can get commissions the day your first sale closes. Given that you can't start until you are licensed (and be damn careful, they do check!), don't plan on seeing your first dollar until 60-90 days after you are licensed.
I hope you either have savings, or a bartending/waiting job to keep afloat. Many new agents go bust because they don't keep another job while they are learning and building their business. Dont let that be you.
2007-02-02 09:03:51 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You don't make a dime until you sell something. Then you paid your commission when the transaction closes. If a company requires you to attend a training class that's great! But they will pay you the minute your first deal is finished. Any company who wouldn't I wouldn't want to work for!
2007-02-02 17:58:10 · answer #2 · answered by operababe_61 3 · 0⤊ 0⤋
You do not automatically make anything in real estate. You are 100% commission. When you sell a house you will receive your commission. So the answer to your question is yes, and no.
RE Agent,
Remax
2007-02-02 16:58:25 · answer #3 · answered by frankie b 5 · 1⤊ 0⤋
The 2200 hrs sounds like a way her particular broker has found to get people to work an entire year for free. You should work for a broker that will pay you commission on your first sale. Don't settle for less, there is no requirement to work 2200 hours somewhere for no pay.
2007-02-02 16:58:42 · answer #4 · answered by wwbrad90 3 · 1⤊ 0⤋
Depends on the company. Be sure to check out the details of any contract you sign with a prospective company before committing to working with/for them. There are some out there that require minimum working standards, but there are plenty that don't. Good luck.
2007-02-02 16:57:02 · answer #5 · answered by Anonymous · 1⤊ 0⤋
You get a commission when you sell a house. There is no commission at all, at any time, if you are not selling anything.
2007-02-02 16:56:42 · answer #6 · answered by Lisa A 7 · 2⤊ 0⤋
You should definelty should be receiving commisions right away as soon as you have your fist purchase or sale. If others are telling you different. I would stay away from that agency.
2007-02-02 16:57:45 · answer #7 · answered by Anonymous · 1⤊ 0⤋
no...you have to sell a house first.
2007-02-02 16:58:22 · answer #8 · answered by Anonymous · 1⤊ 0⤋
Why would you - you didn't sell anything ???
2007-02-02 16:55:22 · answer #9 · answered by John W 3 · 1⤊ 0⤋