Quote:
Originally Posted by jackmichigan
At least this should serve as fair warning to those who may want to jump into the business to get rich quick.
"Fifty-six percent of members who have two years or less experience made less than $10,000 in 2016..."
"REALTORS® with two years or less experience...had a median gross income of $8,930..."
"The median business expenses were $6,000 in 2016..."
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Median business expenses of $6,000 is probably $1500 legitimate expenses, $4500 vehicle mileage, cell phone, and home internet....Not saying those are not legitimate, but they are expenses that one would likely incur in any business, or just as a regular person going about their life.
Also, there are folks like me - who buy/sell purely for themselves, who report zero income from the transaction because I never take a commission....Cost of maintaining my license including MLS fees, NAR fees, etc is less than the cost of 1 rental transaction, and we have a dozen or so properties we own/lease.
I've saved myself well over $200,000 in commissions by representing myself...But as an investor, it is a part time job....and with the prices escalating as fast as they have, and then Hurricane Harvey, its been more difficult recently to get anything worth investing in.
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