How Much Can You Make As A Real Estate Agent?
Working 9 to 5 not get to where you thought it would ... Now you are thinking of a different route. What you're looking for is a way that allows you to create your own brand with unlimited growth potential. You have noticed that there is a lot of money circulating in the real estate and you're thinking to yourself, "How much I can earn as a real estate agent?"
Unfortunately, you are the only one who could know how much you can do as an agent. This is because agents make most of your money from your network through personal referrals and return business. You see ... it's a snowball effect. An agent 100 can get 5 contacts of that group sales in a year. If the 5 customers were impressed by the agent, then you can refer to one of his friends.
Those 5 sales could then become 5 each time the ball rolls from there. Therefore, a career in real estate can take years to establish. If people trust you and are impressed with their knowledge of the industry, then you are likely to meet with you and sing your praises the next time you have a conversation about real estate. Your business is entirely up to you and the relationships you make. It must become the "go-to" person for someone who has a question about real estate in your area.
There are thousands of agents in all cities, so most local of those looking to buy or sell a house that you know someone who is an agent. However, that does not mean they ever use that person for a transaction. With a large investment, such as real estate, it takes more than having your license to get someone to trust you. That's why the vast majority of agents do not make a living out of their real estate business alone.
You can meet hundreds of people, but those people do not think about them when they think of real estate. Add a sales attitude cheese ball and go. Nobody will use as your agent and forced to another industry.
That said, there are a lot of factors that determine the amount of an agent can do. A good market, for example, makes it much easier to make money. The average income of people in your network will determine the average selling price of homes that sold (if most of your contacts makes $ 60K a year, then you will sell all they can afford and if they do 1 million dollars years later ... you get the point).
If you are very knowledgeable and work hard, then you repeat business. If you are an extrovert, then you will make more contacts and therefore sells more real estate. Since this work is a commission only job, their livelihood depends on factors like these and many more. There are agents who earn less than $ 10K a year, players who earn over a million a year, and everything else. It totally depends on the person.
If you were hoping for some concrete numbers to help ... here are some of them:
The standard commission on the sale of a house is as follows: 6% of the sale price (which is usually divided equally between the buyer's agent and the selling agent unless the real estate agent also represents the buyer).
The brokerage is divided between the range: 50% to 80% of the commissions you earn (ie take home 50-80% commission). There are exceptions to this rule, but usually there's a catch.
Typical closing length Home Buying takes about 30 days from the date of execution of the contract (unless the buyer pays in cash). Obviously, no fee will be collected until after the close.
Remember, every single real estate agent determines its own destiny. If after reading this article, you still want to pursue a career in real estate, then it is very possible that what it takes to succeed because the first lesson to learn in this business is how to deal with disappointment. Everything else is just rewarding in every way!
Unfortunately, you are the only one who could know how much you can do as an agent. This is because agents make most of your money from your network through personal referrals and return business. You see ... it's a snowball effect. An agent 100 can get 5 contacts of that group sales in a year. If the 5 customers were impressed by the agent, then you can refer to one of his friends.
Those 5 sales could then become 5 each time the ball rolls from there. Therefore, a career in real estate can take years to establish. If people trust you and are impressed with their knowledge of the industry, then you are likely to meet with you and sing your praises the next time you have a conversation about real estate. Your business is entirely up to you and the relationships you make. It must become the "go-to" person for someone who has a question about real estate in your area.
There are thousands of agents in all cities, so most local of those looking to buy or sell a house that you know someone who is an agent. However, that does not mean they ever use that person for a transaction. With a large investment, such as real estate, it takes more than having your license to get someone to trust you. That's why the vast majority of agents do not make a living out of their real estate business alone.
You can meet hundreds of people, but those people do not think about them when they think of real estate. Add a sales attitude cheese ball and go. Nobody will use as your agent and forced to another industry.
That said, there are a lot of factors that determine the amount of an agent can do. A good market, for example, makes it much easier to make money. The average income of people in your network will determine the average selling price of homes that sold (if most of your contacts makes $ 60K a year, then you will sell all they can afford and if they do 1 million dollars years later ... you get the point).
If you are very knowledgeable and work hard, then you repeat business. If you are an extrovert, then you will make more contacts and therefore sells more real estate. Since this work is a commission only job, their livelihood depends on factors like these and many more. There are agents who earn less than $ 10K a year, players who earn over a million a year, and everything else. It totally depends on the person.
If you were hoping for some concrete numbers to help ... here are some of them:
The standard commission on the sale of a house is as follows: 6% of the sale price (which is usually divided equally between the buyer's agent and the selling agent unless the real estate agent also represents the buyer).
The brokerage is divided between the range: 50% to 80% of the commissions you earn (ie take home 50-80% commission). There are exceptions to this rule, but usually there's a catch.
Typical closing length Home Buying takes about 30 days from the date of execution of the contract (unless the buyer pays in cash). Obviously, no fee will be collected until after the close.
Remember, every single real estate agent determines its own destiny. If after reading this article, you still want to pursue a career in real estate, then it is very possible that what it takes to succeed because the first lesson to learn in this business is how to deal with disappointment. Everything else is just rewarding in every way!
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