The answer to both of your questions is "YES"...
There is plenty of money to be made and the work is very hard.
It takes patience and persistence to make it in this line of work.
You do not collect paychecks, and you are not reimbursed for your expenses.
You have to do your own prospecting, promotions and continually educate yourself for the benefit of your clients...
Whats the good news... If you can stick with it,.. the pay is good and the final outcome is helping people.
I would be happy to discuss this with you if you are serious...
What a new agent really needs in this business is a strong broker who is willing to educate and guide the new agents. A company who really cares about their Realtors
Here is a video presentation for the brokerage that I work with...
If you would like to learn more... I'm easy to find...
Hank Lauzon III
Signature Real Estate Group
9525 Hillwood Drive #120
Las Vegas, NV 89134
Web : http://www.HanksLVRealestate.com
Never look down on anybody...unless you're helping them up.
Where I live the "average agent" is closing just 6 transaction sides per year. But that figure is pulled WAY down because of all the people who hold a license and close just one or two deals that fall in their lap each year from friends or family. It's "fun money" or "vacation money" that just shows up for them.
Real agents who are working this full time are going to close a minimum of 12 deals per year with MOST hitting between 12 and 24. The majority don't do more than 24 for whatever reason.
If you took the average sales price of $160,000 for your area and even factored in a cut commission of 2.5% on one side then that would be $4,0000.
If you are on a split w/your broker until you pay them $10,000 then are on 100% after that it would take 5 deals to pay off the broker and get to 100%. So for the first 5 deals closed you'd make $5,000. If you only closed 12 deals in a year, then you'd have 7 more at 100%.
So (5 closed sides x $2,000) + (7 x $4,000) = $30,000 per year. I'd bet that's what most agents in Vegas who are doing things "full time" are making.
So yes....they probably earn more than $20,000. Someone closing 24 sides per year (just two per month) will more than double that figure and generate about $81,000 worth of income. Oh, and yes...the job is not easy and the hours are long. If you're new and you're closing 24 transactions per month then you are pretty much guaranteed to be working 50 hours per week or more to make that level of business happen.
I regret to inform you that all the 'easy' jobs are gone.
Even those jobs paying $7,000 a year are incredibly difficult and demoralizing.
I am happy to inform you that those who are willing to work hard, learn new skills, have the courage to get outside their comfort zone, a world of opportunity exists.
Sorry, their is not school of magic or self improvment video that results in a truck load of money being dropped at your front door. You ARE going to have to work HARD for the money you earn.
That is the pathway to financial security and success. The perfect work is defined as doing what you want, when you want, with whom you want. Success is defined at the number of lives you effect.
A career in real estate can provide all of these, but it has proven TOO HARD for most.
There are currently about 12,000 agents in Vegas, half of them aren't closing a deal a year.
Yes, average commission is between $4k-6k, but the average agent is making @ $40k / year.
I've personally closed over 50 transactions in the last 6 months.
To learn my secrets to success is not magic, but it does take the right systems and consistency.
This Wed I'm hosting a free seminar at Simon at the Palms, BECOME A LISTING MACHINE,
here's how you can RSVP:
Cheers - Mark Fleysher
Dual Licensed Real Estate Broker NV#62827 MA#9530304
NV Broker & Team Leader of The Adams Team at Rothwell Gornt Companies
MA Broker at Sankey Real Estate