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Old 06-08-2011, 01:24 PM
 
Location: West Paris
10,263 posts, read 11,935,563 times
Reputation: 24465

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[LEFT] The Average Salary of a Real Estate Agent in Chicago, Illinois | eHow.com



The median income for a real estate agent in Chicago is about $36,000 as of December 2010, according to Salary.com. Those on the middle 50 percent of the earnings range make about $35,000 to $45,800. The bottom 10 percent have incomes under $34,400, and the top 10 percent can earn more than $54,600 per year.




It seems it's quite slow ,i suppose that many agents are working for little




[/LEFT]
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Old 06-08-2011, 04:59 PM
 
Location: Dana Point
143 posts, read 418,429 times
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Much more difficult job than most people think. In this market, there are a LOT less agents to compete with, but those that are left are very good and very experienced, in my opinion.

In a very HOT market, there are a lot more agents and sellers list with their cousin, the full-time butcher and part-time agent.

Either way, those numbers are probably correct in most markets. At least in California.
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Old 06-08-2011, 05:43 PM
 
Location: West Paris
10,263 posts, read 11,935,563 times
Reputation: 24465
Quote:
Originally Posted by LisainCali View Post
Much more difficult job than most people think. In this market, there are a LOT less agents to compete with, but those that are left are very good and very experienced, in my opinion.

In a very HOT market, there are a lot more agents and sellers list with their cousin, the full-time butcher and part-time agent.

Either way, those numbers are probably correct in most markets. At least in California.

Like in Europa!
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Old 06-08-2011, 08:43 PM
 
Location: Columbia, SC
10,642 posts, read 20,753,502 times
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Actually, those numbers are probably not too far off the peak years either. My market is about the same as the peak years.
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Old 06-09-2011, 09:00 AM
 
Location: Louisville KY Metro area
4,826 posts, read 13,826,071 times
Reputation: 2147
Ok, broken record. Yes, the national median GROSS COMMISSION INCOME (GCI) for REALTORS is about $40,000 less their broker's share. On the other hand, CRS agents which make up about 4% of all REALTORS participate in about 26% of all transactions. Individual agents without CRS may earn more, so to nearly every statistic there is an exception, but in a large set of samples (get out your statistic's text book) the typical CRS designee does over $ 125,000 GCI.

So, why do I say broken record? Well, RE/MAX has more agents with CRS designation than any other firm (official RE/MAX marketing claim) and unofficially, RE/MAX agents average over $ 140,000 GCI far an away more income than even an average CRS designee. Many agents from other franchises make more than $140,000 GCI, but there are simply more RE/MAX agents who do.
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Old 06-09-2011, 09:03 AM
 
4,399 posts, read 10,255,761 times
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Quote:
Originally Posted by french paris View Post
[LEFT] The Average Salary of a Real Estate Agent in Chicago, Illinois | eHow.com



The median income for a real estate agent in Chicago is about $36,000 as of December 2010, according to Salary.com. Those on the middle 50 percent of the earnings range make about $35,000 to $45,800. The bottom 10 percent have incomes under $34,400, and the top 10 percent can earn more than $54,600 per year.




It seems it's quite slow ,i suppose that many agents are working for little




[/LEFT]
alot of those might be part timers, who are just starting and might not ever make anything, or only do a few sales a year.
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Old 06-09-2011, 11:37 AM
 
Location: Columbia, SC
10,642 posts, read 20,753,502 times
Reputation: 9917
Quote:
Originally Posted by tomocox View Post
Ok, broken record. Yes, the national median GROSS COMMISSION INCOME (GCI) for REALTORS is about $40,000 less their broker's share. On the other hand, CRS agents which make up about 4% of all REALTORS participate in about 26% of all transactions. Individual agents without CRS may earn more, so to nearly every statistic there is an exception, but in a large set of samples (get out your statistic's text book) the typical CRS designee does over $ 125,000 GCI.

So, why do I say broken record? Well, RE/MAX has more agents with CRS designation than any other firm (official RE/MAX marketing claim) and unofficially, RE/MAX agents average over $ 140,000 GCI far an away more income than even an average CRS designee. Many agents from other franchises make more than $140,000 GCI, but there are simply more RE/MAX agents who do.
Why are you turning this into a CRS and Re/Max post? The OP was simply posting averages. How about this, 10% or responsible for 90% of the business. Tom, you're very intelligent and you contribute a lot but I hate the way you constantly turn everything into a Re/Max post. Why don't you go over to the other thread where Bentlebee was talking about all the Re/Maxes having to consolidate or close because they weren't making enough to stay open since it's actually a Re/Max post.
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Old 06-09-2011, 11:58 AM
 
Location: Illinois
718 posts, read 2,000,839 times
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Amen. Several large franchises in our County have closed. Prudential and Re/Max are two of them. Real Estate has always been a "barnicle business".....as in a barnicle attaches itself to the side of a boat and the boat in this case is the broker. An agent is never responsible for anything....not the listing, not the commission, nothing....only in the broker's name. And, in that respect, any broker can charge any agent what they feel is fair. And obviously, time to an agent is like the proverbial what is "time to a pig"....about the same answer. I have been a real estate broker for over 30 years. I do know what I am talking about.
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Old 06-09-2011, 08:17 PM
 
Location: Louisville KY Metro area
4,826 posts, read 13,826,071 times
Reputation: 2147
Quote:
Originally Posted by Brandon Hoffman View Post
Why are you turning this into a CRS and Re/Max post? The OP was simply posting averages. How about this, 10% or responsible for 90% of the business. Tom, you're very intelligent and you contribute a lot but I hate the way you constantly turn everything into a Re/Max post. Why don't you go over to the other thread where Bentlebee was talking about all the Re/Maxes having to consolidate or close because they weren't making enough to stay open since it's actually a Re/Max post.
Because, the lament of the OP was why people in the business aren't making money.

Brandon, I will stop cheering for RE/MAX when people who are either ignorant or down-right unethical stop bashing the firm or the model. I am not attempting to railroad any post, but rather only attempting to answer questions such as this thread's OP. The RE/MAX model is not perfect for everyone, but I believe that anyone who really wants to make money in this industry needs to know about the outstanding history of professionals with RE/MAX.

In regards to your dig about the Bentlebee post, I responded on that post and truly explained the consolidations, but since you mentioned it. Look at it this way. The RE/MAX model is made up of mostly three sizes of offices. One size, such as mine, is a local firm with less than 20 agents. Then there is the 21-100 agent firm and those above 100 mostly in large urban markets. Consolidation of offices is often just good economics, and that has happened. Some offices, will close, just like restaurants, they will come and they will go.

When you can stand as I can and say that your brand sells almost twice as many deals as its nearest competitor, then you will understand. One major firm uses false charges against RE/MAX to recruit, but it can't hold a light to Coldwell Banker agents which happen to be the second most productive brand of agents as that firm sells about 1/2 as much real estate as CB.
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Old 06-12-2011, 11:24 PM
 
Location: Columbia, SC
10,642 posts, read 20,753,502 times
Reputation: 9917
Quote:
Originally Posted by tomocox View Post
Because, the lament of the OP was why people in the business aren't making money.

Brandon, I will stop cheering for RE/MAX when people who are either ignorant or down-right unethical stop bashing the firm or the model. I am not attempting to railroad any post, but rather only attempting to answer questions such as this thread's OP. The RE/MAX model is not perfect for everyone, but I believe that anyone who really wants to make money in this industry needs to know about the outstanding history of professionals with RE/MAX.

In regards to your dig about the Bentlebee post, I responded on that post and truly explained the consolidations, but since you mentioned it. Look at it this way. The RE/MAX model is made up of mostly three sizes of offices. One size, such as mine, is a local firm with less than 20 agents. Then there is the 21-100 agent firm and those above 100 mostly in large urban markets. Consolidation of offices is often just good economics, and that has happened. Some offices, will close, just like restaurants, they will come and they will go.

When you can stand as I can and say that your brand sells almost twice as many deals as its nearest competitor, then you will understand. One major firm uses false charges against RE/MAX to recruit, but it can't hold a light to Coldwell Banker agents which happen to be the second most productive brand of agents as that firm sells about 1/2 as much real estate as CB.
Tom, I'm not saying you shouldn't be proud of your company. Nobody on this post mentioned that company with the balloon except you. And you threw in CRS to boot. The OP ran across an article posting stats about average income which is possibly a fact. From what I gathered they aren't even an agent. As far as how the balloon is doing...I don't know and don't care that much. For what it's worth 4 of the 6 balloon offices in my market have closed their doors in the last 3 years. C21` was bought out by CB. Exit and KW have grown. Who cares? The companies come and go, the good agents survive. You seem to think everyone is secretly conspiring against the balloon when in reality most people just don't care. This post is another example. Someone posted the average income of agents in Chicago and you take it as a slight against the balloon? Lighten up Francis.
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