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07-09-2009, 03:08 PM
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192 posts, read 585,016 times
Reputation: 117
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Looking to potentially make a career change and was thinking about real estate. I know all the caveats - market is bad, competitive industry, etc. But I wanted to get people's thought on what an average salary is for a real estate agent in this area. Ckeegan - you may have some insight on this. Thanks all.
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07-09-2009, 04:52 PM
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1,016 posts, read 2,037,321 times
Reputation: 344
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It really depends on the broker you work for and how good a salesman you are. It will probably take you 1 or 2 years to really get an income established in this area now.
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07-09-2009, 04:58 PM
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192 posts, read 585,016 times
Reputation: 117
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ok..
Quote:
Originally Posted by ruvidu
It really depends on the broker you work for and how good a salesman you are. It will probably take you 1 or 2 years to really get an income established in this area now.
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Ok...so assume you work for a reputable broker and you are a decent salesman...what are we talking? |
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07-09-2009, 06:08 PM
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1,941 posts, read 4,279,424 times
Reputation: 970
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I'm not in real estate, but I think an important consideration is the type of real estate you plan on doing. Are you more interested in residential, commercial, or both? Do you want to work for a larger, more well-known real estate company or a smaller, local one?
I also know that there are various certifications and training programs you can do to get a license (and I'm sure they mean slightly different things). I would look into that to see how each company's qualification standards differ. Some will probably expect a more thorough training program than others.
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07-09-2009, 09:21 PM
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Location: Greenville, SC
915 posts, read 2,324,897 times
Reputation: 400
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Salary? As a Realtor, you are an independent contractor, there is no salary. You literally get out of it, what you put into it. Being a good Realtor is also pretty expensive. All of the signs, flyers, business cards, real estate ads in magazines and newspapers, websites, featured tours, etc are paid for 100% by the individual. It is an extremely competitive business, and you absolutely have to treat it like running your own business.
It is literally impossible to answer the question of how much the average Realtor makes, since there are so many variables. Company structure (flat fee or full service), commission split with your broker, misc broker fees, advertising expenses, dues (Realtor, MLS, designations, etc), and so on. You also have to keep in mind that being an independent contractor limits your options for health insurance, retirement savings (all in your hands), and more.
This may be the first question I haven't been able to answer.  |
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07-10-2009, 11:39 AM
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Location: Anderson, SC
181 posts, read 392,212 times
Reputation: 180
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I agrre that it is hard to say how much income you will make. Most agents drop out before the 3 year mark. Many agents do not make a dime for their first year. And even when you start making money, all the variables that ckeegan mentions makes a world of difference in whether or not you actually make anything. Hard business, and much harder to succeed in, but very easy to lose money in.
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07-10-2009, 01:22 PM
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134 posts, read 253,305 times
Reputation: 70
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 You're 1 1/2 years late. The bubble burst. |
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07-10-2009, 04:21 PM
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1,016 posts, read 2,037,321 times
Reputation: 344
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Not Really. Things are picking up around here. My broker sent me an email this afternoon saying he had 12 showings and wrote two offers this week. For a small company that is good. The $8000 tax credit for first time home buyers is bringing out the lookers.
I just wish the commercial buyers would get back in.
I agree with the statement about the first year Brian made.
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07-11-2009, 10:48 PM
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192 posts, read 585,016 times
Reputation: 117
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c'mon...
I know like ten people that sell as their second career and they all do great...if it was as competitive as you say, at least one of them would have gone belly up.
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07-16-2009, 02:09 PM
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Location: Columbia, SC
12 posts, read 59,960 times
Reputation: 12
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There are lots of variables to consider when looking at real estate income. A better question might be "what is the average agents annual sold volume?" You could use that data and multiply it by 3% then subtract out your brokers percentage and subtract cost of doing business (Realtor dues, mls, e&o insurance, etc.). That should leave behind income before taxes.
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