| Real estate agents are independent | | | | current market (buyers or sellers). |
| licensed professionals. Many people call | | | | In 2006 in the US there were |
| this a job but it really is an | | | | approximately 432,000 positions. You |
| entrepreneurial, independent position, | | | | would also have to take in consideration |
| IE: Business. It is better classified as | | | | to what area you are planning to |
| a business because it carries the | | | | business in. Generally if you are in a |
| following characteristics: | | | | big city there will be more positions |
| 1. It has multiple start up costs. | | | | available but also a lot of competition |
| 2. Licensed by State or Province. | | | | as well. |
| 3. Many agents operate under business | | | | What does it take to succeed in real |
| names. | | | | estate? |
| 4. Expenses such as: Shuttling potential | | | | The real estate agents who do extremely |
| clients around, dinners & lunches with | | | | well are usually in the top 5 percent. |
| potential clients, advertising costs & | | | | You can drive down any street in your |
| office expenses etc. | | | | neighbourhood & plainly see the main |
| 5. Most agents right off most expenses | | | | names of these top earners almost |
| as a business for tax reasons. | | | | everywhere. Most of these people have |
| Jobs on the other hand are generally | | | | one thing in common. They are achievers |
| free to find & get started. You do not | | | | & very good in sales. More than that, |
| have the opportunity to right off | | | | they are very good communicators, quick |
| expenses because you will be classified | | | | thinkers, organizers, & excellent in |
| as an employee. | | | | customer service. It takes a special |
| How much can you make as a real estate | | | | breed to become a top realtor. It all |
| agent? | | | | starts with a burning desire or passion |
| First of all real estate agents get paid | | | | for this business. Many have gotten in |
| by commission. They usually get paid | | | | to this industry & out just as fast |
| anywhere from 5 to 10 percent of the | | | | mainly because of the transition from |
| selling price of the home. This can be | | | | employee to entrepreneur. It takes a lot |
| good for you if you are a good salesman. | | | | of courage for anyone to make this |
| The more homes you sell, the more income | | | | transition because of the whole |
| you can make. | | | | principal behind this. Most people want |
| Here are the 2006 US Estimates from the | | | | job security & have a hard time |
| lowest to the highest: | | | | digesting the fact that their |
| - The lowest 10 percent earned less than | | | | commissions are not guaranteed. The flip |
| approximately $20,170. | | | | side on this issue is that the top real |
| - The average agent (25 - 50 %) earned | | | | estate earner has surpassed this level |
| approximately between $26,790 - $39,760 | | | | of thinking & reaps the rewards of being |
| - The top 5 percent earned approximately | | | | an entrepreneur. |
| $111,500 + | | | | If you are considering real estate as a |
| How much does it cost to become a real | | | | career & are prepared to do what it |
| estate agent? | | | | takes to succeed then this can be a very |
| It may cost you anywhere from $2,000 to | | | | rewarding career move. If you are the |
| $5,000 to go through the full licensing | | | | type of person who wants to stay safe |
| procedure depending on what state or | | | | with a steady pay check this may not be |
| province you are located. This is only | | | | for you. Please keep in mind that anyone |
| the bare requirements of obtaining a | | | | who makes $100,000 + per year most |
| real estate license. Find a licensed | | | | likely has made a commitment to their |
| school near you for more detailed | | | | business & themselves. |
| information on obtaining your license. | | | | The top realtor's have gone the extra |
| How many positions are there? | | | | mile in this career & are highly |
| Based on the constant up & down real | | | | compensated for their efforts. |
| estate market, it would be very hard to | | | | Other options instead of real estate: |
| say exactly how many positions there are | | | | 1. Life insurance agents. |
| currently. You would have to take in to | | | | 2. Mortgage specialists. |
| consideration how many agents may be | | | | 3. Car Sales. |
| potentially leaving this industry, the | | | | 4. Travel Agents. |
| amounts of properties for sale & the | | | | 5. |