Thinking of getting into real estate? Your timing is perfect. As you will be told 95% of newly minted real estate agents will be "OUT OF BUSINESS IN TWO YEARS!" In what other industry would such dismal success rates be tolerated? There is an inherent FATAL flaw in the way citizens enter the real estate business. This flaw has been in place from the moment the sun beamed on soil that could be sold. This fatal flaw is thoroughly promoted today. Your success depends on identifying this mantra of error proffered in unison by those who success record reflects that of the industry.
Fortunately, there are 'hundreds' of ways to make a living via real estate. One way involves becoming a real estate agent. There are so very many more venues that are much more profitable that you really need to explore.
In the end, you will find it is not competition that is the cause of business failures but it is being poorly prepared. In essence, businesses fail, including real estate pros, because they self-destruct. They improperly researched their needs, over estimated their ability, underfunded their activities and failed to do the diligence to know what was their business, who was their customer and how to reach out and touch them. As they were sinking into the quicksand, they never recognized who was making the money.
If you are thinking of getting into real estate, you could not have picked a better time. However, make sure you know what business you are into. The answer will NEVER be 'The real estate business' but will be one of the many segments within this vast sphere of opportunity.
Start buying some coffee and meeting with small brokers and big label agents with real ideas you want to pursue and what they recommend for arriving at your goal.
Although compensation, as your question is focused on, is important, it will prove to me a minor factor in determining your success.
Search here on Trulia for questions regarding, "New Agent" or 'What brokerage to go with". You will easily identify the fatal flaw and the resulting 5% success rate.
Properly prepared, you should know, the water is fine, jump in. There has rarely been a more favorable opportunity for those not encumbered with legacy concepts and free to respond to the need they see.
Best of success
ReMax Realtec Group
Palm Harbor, Fl