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Old 04-25-2009, 08:35 AM
 
Location: Utopia
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Last edited by lvkewlkid; 04-25-2009 at 10:56 AM..
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Old 04-25-2009, 09:41 AM
 
Location: NW Las Vegas - Lone Mountain
15,757 posts, read 19,960,118 times
Reputation: 2661
Default I iss here...

We have everything from the full service places like Prudential Americana where we are located to the Realty One and smaller who charge very little. $50 a month maybe for desk rent. Or just a transaction fee. Note though that MLS and GLVAR cost a bit.

One of the better ways to start is as a buyers agent for a REO or big operator team. Basically some of the REO guys get more hits than the can handle and hire a couple of Agents to represent the buyers they attract. Does not pay terribly well but you don't starve. After you have some number of sales done you can strike out on your own.

We use a plan that is not good for a newby...but we get a very high commission split and have enough revenue that we don't actually get hit that hard.

Note that after taxes and particularly the self employment tax you only take home half what you net after brokerage fees. All up all in you probably have to do 100 Grand to net $40 or $45.. There are however the normal advantages of a small business.

The number of agents is down substantially. A third or half or some such. The number of active agents doing more than two is well down...1500? or so.

Last edited by olecapt; 04-25-2009 at 09:56 AM..
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Old 04-26-2009, 08:03 AM
 
Location: Utopia
1,999 posts, read 6,354,830 times
Reputation: 1326
That is some tax eating then in a no personal State income tax..wow! I had no idea that taxes took that much of your money. Pity...sigh.
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Old 04-26-2009, 09:58 PM
 
Location: NW Las Vegas - Lone Mountain
15,757 posts, read 19,960,118 times
Reputation: 2661
Quote:
Originally Posted by TootsieWootsie View Post
That is some tax eating then in a no personal State income tax..wow! I had no idea that taxes took that much of your money. Pity...sigh.

The actual rate gets to 40 something percent on the successful self employed. It is the FICA tax added to the income tax. True everywhere and less in NV than in say CA or NY where the state piles on another 8 or 10 per cent.

There are some counters if you get going good. Incorporate into an LLC. Than you can convert half the self employment tax into a tax deduction.

But welcome to the real world. Can be a little hard on you.
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