That is the tip of the iceberg. You will spend about $1500 or more on education, then there is a fee to take the test, there are fees to join the Nationa Association of Realtors and the Texas Association of Realtors then there are fees to have a Supra key (what gets you into the listings), and seperate fees for the MLS for listings and for leases, then you spend money on business cards, letterhead, signs, and promotional items, the Broker that holds your license will take a percentage of everything you sell and may or may not charge transaction fees and desk or phone fees. Then you need to spend a couple thousand on a website so that clients can find you. I spent about $20,000 last year on my business.
Then as a new agent you may or may not sell anything for the first 3-12 months. I would say you need to have saved a minimum of 6-12 months of income before you think about this business. I have seen many agents try real estate thinking it is quick and easy money, but it is not. Right now there are many Realtors leaving the business as the number of transactions has gone down from last year. I suggest you proceed with caution. If your serious about becoming a Realtor call me and I will get you a meeting with my Broker. I wish you the best of luck!
Betina Foreman... more