How much $ do real estate sales people make per year during these economical conditions?
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R. asked:
I want to get a real estate sales license in the state of California but don’t know if is the right choice. Please reply, thanks.
Kelly
I want to get a real estate sales license in the state of California but don’t know if is the right choice. Please reply, thanks.
Kelly
February 10th, 2010 at 3:31 am
you will likely earn less than $15,000 net in first year. with risk of losing money. you pay fees and expenses to your broker. if you have minimal closings you can actually owe money.
how many jobs give you no benefits and could cost you moneyt? pretty cool uh?
February 10th, 2010 at 4:26 pm
They are paid commissions on sales they close. Currently the housing market is weak, so real estate salespeople are not doing so well. Could be better next year, though.
In my area houses are now going for almost half of the price two years ago. It’s an excellent time to buy, but I already have one . . .
February 12th, 2010 at 3:17 am
My experience is people always need to sell and they always need to buy. Sometimes fewer people are selling and a bunch of real estate people give up- but the good agents just work harder and find new ways to sell.
I had a few months this year I did not sell much. But right now I am very busy with the last minute people trying to get the $8,000 tax credit.
December may be slow- but I have a few investors that don’t want to buy until the tax credit rush is over with- so I may be busy with them then.
But saying how much will you make? That is impossible to say. You get a percentage of the sales price of each home you sell.
Also you will work extremely hard the first several years building a reputation. One customer I am working with right now was sent to me by a buyer I helped over 15 years ago.
February 12th, 2010 at 6:02 am
Homes are still selling, just not as much as before. However, you get paid no matter what. If there is a loss, the seller is responsible. You still get your commission.
Also keep this mind, there are less agents today then at the peak of the market. For example: if at the peak there were 100,000 houses for sale and 20,000 agents, this would have been an average of 5 “sales” per agent. However, now there are only 75,000 houses for sale, but only 10,000 agents. This increases the average to 7.5 (vs 5), so you actually have the ability to make more money.
It’s hard work and a full time job, but after a few years, there is no reason not to be earning 6 figures.
February 15th, 2010 at 3:22 pm
Homes are selling, but unless you already have a great client base thi is not a great time to get started. The brokers are going to be feeding their loyal agents, you will be on your own to find them and there is no pay unless you can close deals.
February 16th, 2010 at 4:20 am
Real estate business is demanding and risky. Don’t look at the market for a while - one year it’s up, second down.But if you want to be successful, you have to take this calling seriously. But is it real calling or just sudden idea? To be successful agent you have to create vast social and business nets. This can take years.
So if you take just as an option how to get rid of unemployment or bad job, don’t do it.