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Posted on 12/26/15 at 10:59 pm to BananaHammock
butt
Posted on 12/26/15 at 11:00 pm to shutterspeed
Try double that
Posted on 12/26/15 at 11:00 pm to TJG210
quote:
Can someone tell me the ins and outs of being a real estate agent? If you hustle, what kind of scratch can you pull down? Time commitment?
My agent does ok. From what I've heard, average for a decent agent in T-Town is 60-70k. Good ones can make some pretty serious scratch. It's like any other kind of sales really. Know what your client wants, don't BS them, communicate well.
From her ability to respond, I'd say you'd need to accept there isn't really a time you're "off work". Because yes I've messaged on days, evenings and weekends, and she responds pretty promptly. It's saved me time and trouble, and will get her paid some more when I sell another of my houses in a few months.
Posted on 12/26/15 at 11:00 pm to mattz1122
Glad someone noticed. 
Posted on 12/26/15 at 11:01 pm to TJG210
I'm a third generation realtor, so I guess I can help.
Time commitment is entirely dependent on how much you want to work and how good you are at not letting your clients dictate your life. Telling them to take a hike and you will no longer be assisting them is very liberating, but most agents can't bring themselves tell that potential commission to walk away -- even though it's not worth it in the long run.
How much can you make?
My parents haven't made less than a 100K apiece in ten years, most of the time they're over 200 apiece. During the boom my Dad got close to a million, but he was finding land for big developers and hit a lucky streak. Most people don't do that well at all.
You'll be lucky to break 20K your first year after expenses, but if you can stick it out for two or three years and keep at it, you'll have a chance to make a very nice living.
Personally, I don't want to be involved in it for more than 10 years. It's too fricking stressful taking on other people's problems and making them your own. Buying a home is a HUGE step for most people and can bring out the worst. Each day is a fresh adventure into the twisted depths of the human psyche under stress. I hope to work up my own portfolio of properties over the next 8 years or so and work that rather than other people's.
Time commitment is entirely dependent on how much you want to work and how good you are at not letting your clients dictate your life. Telling them to take a hike and you will no longer be assisting them is very liberating, but most agents can't bring themselves tell that potential commission to walk away -- even though it's not worth it in the long run.
How much can you make?
My parents haven't made less than a 100K apiece in ten years, most of the time they're over 200 apiece. During the boom my Dad got close to a million, but he was finding land for big developers and hit a lucky streak. Most people don't do that well at all.
You'll be lucky to break 20K your first year after expenses, but if you can stick it out for two or three years and keep at it, you'll have a chance to make a very nice living.
Personally, I don't want to be involved in it for more than 10 years. It's too fricking stressful taking on other people's problems and making them your own. Buying a home is a HUGE step for most people and can bring out the worst. Each day is a fresh adventure into the twisted depths of the human psyche under stress. I hope to work up my own portfolio of properties over the next 8 years or so and work that rather than other people's.
Posted on 12/26/15 at 11:03 pm to stout
How much do you generally clear?
Ex. $300,000 house
I would expect the commission to be about $9,000 before the broker cut....what is the usual take home on something like this?
Ex. $300,000 house
I would expect the commission to be about $9,000 before the broker cut....what is the usual take home on something like this?
This post was edited on 12/26/15 at 11:12 pm
Posted on 12/26/15 at 11:05 pm to PurpleandGold Motown
quote:
You'll be lucky to break 20K your first year after expenses
That's hard to say really. I was 20/21 in 2001 when I had my first full year as an agent under my belt and I made $57K after everything. It grew from there before I moved to being a full time RE investor and quit selling, but I busted my arse that year to build a base. All but one person out of the 12 I took a RE class with were out of the business in their 1st year, because despite what people here like to think, the shitty ones weed themselves out quickly.
Posted on 12/26/15 at 11:05 pm to BananaHammock
CSB. Wonder if she can spell "but"?
Posted on 12/26/15 at 11:08 pm to TJG210
What's the point of real estate agents. Is it illegal to sell your house yourself? Seems like that would make you a crapload more $
Posted on 12/26/15 at 11:08 pm to dsides
Here is one of her TheDirty entries: Posted on 12/26/15 at 11:08 pm to TJG210
quote:
.what is the usual take home on something like this?
Every agency is different and if you're a really good agent you can usually negotiate a better split for yourself.
Keller Williams even has a "profit share" model that is a lot like MLM where you earn money based off what agents you recruit earn. Some Keller Willams agents make $100K per year before they even sell their first house because they recruited some good agents.
The best thing you can do is to shop around and see where you fit and what you feel comfortable with. You may get an agency that will offer you a higher split but they have nothing to help you grow as an agent. In that case, it may be worth taking a little less to work for someone you can learn from. That's what I did and it paid off long term.
This post was edited on 12/26/15 at 11:20 pm
Posted on 12/26/15 at 11:09 pm to TJG210
Its a dying job..just like that of a stock broker..not much for either unless you are looking for something out of state, etc.
Posted on 12/26/15 at 11:11 pm to Paul Allen
Based off earning 1.5% commision after his broker gets through with him.
And I realize that being in the million dollar sales club isn't that impressive anymore (though not even close to all realtors can do it), but I was just giving an idea of what he might expect going in. Even selling a house a month he's probably going to be struggling to pull $20k a year starting out--minus all the start up fees and self-advertising overhead.
And I realize that being in the million dollar sales club isn't that impressive anymore (though not even close to all realtors can do it), but I was just giving an idea of what he might expect going in. Even selling a house a month he's probably going to be struggling to pull $20k a year starting out--minus all the start up fees and self-advertising overhead.
Posted on 12/26/15 at 11:11 pm to stout
I hate the profession. What they do should be a fixed fee and not tied to the price of real estate.
Posted on 12/26/15 at 11:12 pm to joeleblanc
quote:
unless you are looking for something out of state, etc.
Think big
Posted on 12/26/15 at 11:12 pm to texag7
quote:
What's the point of real estate agents. Is it illegal to sell your house yourself? Seems like that would make you a crapload more $
It's legal to sell it yourself. A good Real Estate agent though can facilitate a lot of things that will take you time and expense to do yourself.
It's definitely not worth my time to get bogged down by the details a good agent can navigate much more easily because of their familiarity with them.
Posted on 12/26/15 at 11:14 pm to joeleblanc
quote:
Its a dying job
I agree with this but it will be a long time before it is ever phased out and even then I don't think it will be completely. You will still have commercial agents and property management firms but the internet is slowly making residential agents obsolete. That and the average prices of RE rising at record rates but agents still earning 2.5-3% makes more people look for other options to sell their property. I thought flat fee would have taken off years ago but the Realtors association has done a good job of squashing it so far.
Posted on 12/26/15 at 11:14 pm to texag7
I flip houses on the side so in deal with agents a lot. Typical commission here is 5 to 6 percent to the selling agent. The whole 6 percent doesn't all go to the agent they have to split it with their broker or the listing agent. I know some that make well over 70k and other that make well under 70k. You can work as much or as little as you want. Other than what agents call "floor time" that your required to spend at the office a week answering calls and stuff you really set your own hours. One benefit these days is sites like Zillow and realtor.com that pairs butters with agents. You don't really have to cold call to drum up listings anymore. Buyers come to you through these sites and other media outlets.
Posted on 12/26/15 at 11:15 pm to lynxcat
Now that doesn't make much sense, a million dollar house probably is a lot more involved than selling a $90k place. Why shouldn't the million dollar listing offer more reward?
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