How do Real Estate Agents continue to make money in this down economy?
I am considering a bachelors in Real Estate Business, and the only thing that scares me about being an agent is the fact that salary is commission based, and how do agents live when nothing is selling? I know houses are still being bought and sold, but still. ?
Tags: agents, continue, Down, Economy, Estate, Money, Real, this
2011/07/27 at 00:19:29
A good agent will make money in any economy…. But you should always have more than one source of income. I’ve found something that works well for me… If you want more info let me know.
2011/07/27 at 00:16:23
It doesn’t matter what is being sold, the real estate agents still gets their commission. People are buying and selling, because they need to start a new life, whether a new job, there are places in this country where the market is still hot. Right now, real estate agents are getting buy with cheaper houses selling, rather than few expensive houses. If you can weather this market, you will have no problem when the market takes a turn up.
2011/07/26 at 23:30:54
Same way they do it in an up economy, they sell houses. There are always people buying and selling property, you just have to know how to find them.
Don’t waste your time in a college real estate program. Take a pre-licensing class and sign up with a Keller Williams office.
The pre-licensing class will teach you about the law, and KW will teach you everything you need to know about the business in 6 weeks. That way you’ll avoid paying for 4 years of tuition and books.
2011/07/26 at 22:48:22
You can make $200 for finding a renter a house to live in. Every realty office gets hundreds of those calls every day. No one likes to take the calls because the agent can make $3,000 selling a house. YOu can work those renters while you are learning.
2011/07/26 at 21:51:04
when I got my real estate license all you needed was a high school certificate and $10,000 to start out with and a new car. Since you would be an independent contractor you’d be paying for every paper clip you use, every xerox copy you make and even some places you’d rent your space there in the office. An agent is required by the broker to buy/sell six homes a year and if you don’t then they politely tell you to leave (find another broker to work for). There is a percentage you’d make on commission but that goes to pay for things you do like for forms, for placing ads for the property, for you transporting people to see the place, for your cellphone use, for the front lawn signs, etc. etc. So if the first year is a good one you’d probably earn maybe $35,000 if you’re lucky, and those are touted to be a high selling agent. So you ask how do you live when times are bad, you put your license on hold with a broker and go find yourself other employment that an employer pays you.
2011/07/26 at 21:22:44
Working for 100% commission is not exclusive to the real estate business and working towards a bachelors in real estate does not exclude you from a vast array of other marketing opportunities.
It isn’t exactly a good time to start in the industry since only the seasoned professionals are surviving the present economic times. Many of the Realtors I know have opted for other available sales jobs and a few have become leasing agents or property managers.
It might be in your best interest to major in marketing to give yourself a broader scope to apply your education to the job market. After all a good Realtor is nothing more than a good marketer.
2011/07/26 at 21:05:18
Those of us who have been doing this for many years find ways of earning money (legitimately and professionally) in real estate.
My bookkeeper tells me I’ve earned over 200k thus far this year. (That’s a lot of tax I have to pay.)