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What is it with this form of payment it hardly seems fair.
3% is 3k the 100k so a 500k home 15k
Yet most homes are around 250 in my area so 7.5k
An agent can easily sell 10 homes a month that's 75k.
You know if you got paid for hour you would never reach 75k in a month.
How is this fair exactly?
Over the last decade I have provided personal mortgages for top NATIONAL named agents and not one was even close to 75K a month. The last top producer I worked with handled 300 sales last year and I can tell you, you are leaving off major expenses. Most agents doing any volume have team members they pay to assist in the process. So, depending on the number of people on the team, start dividing by at least 4.......then pile on all the dues, state, national, local, continuing education, auto expenses, expanded insurance, lockboxes, advertising, telephones, housewarming gifts, on an on.
If it were that simple to earn 75K a month, don't you think more people would be flocking to the field? We are seeing just the opposite....fewer people than ever are entering the field.
Over the last decade I have provided personal mortgages for top NATIONAL named agents and not one was even close to 75K a month. The last top producer I worked with handled 300 sales last year and I can tell you, you are leaving off major expenses. Most agents doing any volume have team members they pay to assist in the process. So, depending on the number of people on the team, start dividing by at least 4.......then pile on all the dues, state, national, local, continuing education, auto expenses, expanded insurance, lockboxes, advertising, telephones, housewarming gifts, on an on.
If it were that simple to earn 75K a month, don't you think more people would be flocking to the field? We are seeing just the opposite....fewer people than ever are entering the field.
Okay....you were just trolling, right? Got me.
What house warming gift? I just closed two days ago and all i got was a stupid pen!
Not trolling, I'm serious:
75K ÷ 10 is still 7.5k or 45$ an hour
Did you read what I suggested? Then you know your calculations and assumptions are idiotic.
From the National Association of Realtors:
The median gross income of REALTORS® was $45,800 in 2014, down from $47,700 in 2013. (83% of Realtors are independent contractors, so they pay their own business expenses and all employment taxes; accordingly, their net income will be lower than expected.)
1-Not even 1% of agents are closing 10+ homes per month. The average agent doesn't even close 10 per year.
2-You are factoring gross income. Agents have to pay a split to their company and all their own costs. If they are high volume agents then they will also have staff to pay.
3-The taxes can be brutal in RE as they are higher than most salaried employees have to pay.
4-There are no benefits, 401k, retirement, vacation in real estate.
5-Who decides fair? What is fair?
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