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