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Old 09-23-2011, 02:02 PM
 
Location: Flo-Rida
1,682 posts, read 1,620,190 times
Reputation: 1113
Quote:
Originally Posted by spm62 View Post
So being a realtor is not a good job? I know,not in this economy but in general? I used to be in the real estate title business and I knew plenty of realtors and mortgage people making a fortune and they were commission only. I also knew a few insurance people making a killing. I Also know a few home improvement sales people that make good money and they are commission only. I guess if you are an extremely good sales person this would be the way to go. But for most people, they could never make it at commission only.
Not really, most markets are over-saturated with real estate agents. In RE, the top 10% do 90% of the business, so if you aren't part of that top 10%, you're not going to make much.
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Old 11-26-2011, 08:28 PM
 
3 posts, read 9,891 times
Reputation: 16
Being commission only is essentially the closest to being self-employed you can get. I noticed a lot of people wrote a reply here who have NEVER EVEN DONE IT! I fear for the person that takes advice from someone who has not even done what they are asking about. Seriously...think about it.

Anyway, since I have done it, here is the deal. Typically, the positions which are business to business (B2B) sales will NOT be commission only as that is more of a relationship based sale. Mind you, I said TYPICALLY. You will usually have a salary + commission based on a quota.

When you get into selling to the end consumer you are much more likely to find your commission only positions. Real estate, home improvements, telecom and insurance are examples of where you might find this. I have worked in the home improvement field for years. There have been some tough months (especially as the economy went down) and there have been some great months (some good ones even with the economy down). Before the age of 30 I was able to make over $20,000 a month due to this structure and I have never had a job that would pay that. There are a few factors to take into consideration when considering commission only:

1) The company MUST be able to provide enough leads to you that you will be able to make money.
2) You MUST be able to close their leads at a rate that is acceptable. The OP wrote he thought it was a cattle herding scenario. As a business owner I can tell you that no company wants to spend their time constantly training new people and no company wants to be constantly giving the leads they paid money for to someone who wastes the opportunity because they cannot close. (This was a perfect example of the opinion of someone who has NEVER done it being way off).
3) You must be willing to deal with the crap appointments as well as the great ones. They will both be there, but sometimes you might drive for an hour or two to see someone and they no-show on you without even calling. You just spent your time and money on gas but make nothing.
4) You must be able to handle rejection. 7 out of 10 people will tell you no.
5) You must be okay with making hundreds or thousands of dollars an hour when you have a good appointment that sells.

In the end, sales is still the highest paid profession in the world. Having a good company, with a good product/service and the right price point is a great thing. In the end everyone knows that the owners of a business can and typically will (if it is a good business) always make more money than their employees but the reality is that most people in this country do not and will not have their own business. They would like the lifestyle of a business owner but just aren't willing to do what the business owner did to get that lifestyle. For them, a job with a salary where someone else controls if they make money and how much is fine and they're just not going to be a business owner. Commission only sales is the same thing. You can make money, do so ethically, IF you're willing to do what the people making that money are doing. If not, then you won't. It's just not for everyone.

That's all. I hope this helps someone. And again, I write this from the perspective of an experienced commission only sales rep and experienced business owner.
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Old 11-26-2011, 08:35 PM
 
3 posts, read 9,891 times
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Quote:
Originally Posted by zoomzoom3 View Post
Not really, most markets are over-saturated with real estate agents. In RE, the top 10% do 90% of the business, so if you aren't part of that top 10%, you're not going to make much.
Just wanted to comment on this too. Think about it....do the top 10% in your company now (or industry) make 90% of the money? Of course they do! Certain things don't change. Getting away from a salary simply gives you at least a shot at making more if you're willing to do the work the top 10% did.
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Old 11-26-2011, 08:38 PM
 
17,899 posts, read 6,224,891 times
Reputation: 7387
I've been selling in commission only jobs for over 25 years.

Always out earned my contemporaries.

I will never work for a wage.

Whether you're selling buttons or battleships....sales is sales.
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Old 11-26-2011, 08:38 PM
 
Location: North Carolina
1,569 posts, read 931,121 times
Reputation: 1556
yeah and they suck because you have to compete with slimy douchbags that will do or say anything for a sale.
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Old 11-26-2011, 08:39 PM
 
2,933 posts, read 2,980,019 times
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Thanks for the reply rope. I guess it`s like anything else, there are good commission only jobs and there are bad ones. Just depends on the company, the leads, the product, and the price.
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Old 11-26-2011, 08:39 PM
 
17,899 posts, read 6,224,891 times
Reputation: 7387
Quote:
Originally Posted by zoomzoom3 View Post
Not really, most markets are over-saturated with real estate agents. In RE, the top 10% do 90% of the business, so if you aren't part of that top 10%, you're not going to make much.
So you're a "glass is half empty" type, huh?
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Old 11-26-2011, 08:40 PM
 
17,899 posts, read 6,224,891 times
Reputation: 7387
Quote:
Originally Posted by spm62 View Post
Thanks for the reply rope. I guess it`s like anything else, there are good commission only jobs and there are bad ones. Just depends on the company, the leads, the product, and the price.
No.

It absolutely depends on you.

100%
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Old 11-26-2011, 08:41 PM
 
17,899 posts, read 6,224,891 times
Reputation: 7387
Quote:
Originally Posted by redfish1 View Post
yeah and they suck because you have to compete with slimy douchbags that will do or say anything for a sale.
People who will "say or do anything" for a sale don't last long.
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Old 11-26-2011, 08:48 PM
 
2,933 posts, read 2,980,019 times
Reputation: 1501
Quote:
Originally Posted by redfish1 View Post
yeah and they suck because you have to compete with slimy douchbags that will do or say anything for a sale.
It does make sense that a person working on commission only will be more pushy. They HAVE to make the sale or they get nothing. My ex is a realtor and she makes awesome money,even in this economy. But she`s been doing it for 25 years and has established a network of contacts. Real Estate sales is a little different from a normal commission only sales, though. The people come to you and a relationship is developed. They usually are not shopping around for realtors. Like with some other sales where people will get several estimates. I also know people who did real well in the home improvement industry at one time. But they have been struggling real bad as of late. A lot of home improvement sales people have bad reps for being pushy..sort of like the reputations for used car salesmen. It`s just not meant for everyone. I can see why.
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