FREQUENTLY ASKED QUESTIONS
What are some personality traits of successful agents?
Successful real estate agents need to be likable, have knowledge of the market and the process, and have a good source of leads. Being likable is essential as people won’t work with someone they don’t like. Additionally, having in-depth knowledge of the market and the process is crucial to be able to provide exceptional service. Lastly, generating leads is critical as it’s the lifeblood of the business. Whether it’s from personal spheres, purchased leads, or a brokerage that provides leads, having a good source of leads is key to success in the industry.
How much can I earn as a real estate agent?
Great question! The income potential as a real estate agent is truly unlimited, depending on how much you work, how likable you are, and how well you know the process and the market. It really depends on you and how much effort you’re willing to put into it. According to NAR, the average realtor in America makes between $40,000 and $50,000 a year, but those with advanced designations like the CCIM can make upwards of $80,000 or $90,000 a year. So, the earning potential is definitely there if you’re willing to put in the work!
Is it always commission? Do some agencies pay a salary instead?
In our area, most agencies operate on a commission-only basis. However, some agencies may offer salaried positions for showing assistants or other roles. But if you want to be out there selling houses and making transactions happen, you’ll likely be on a straight commission basis. The advantage of this is that you own your own business, and you’re in complete control of your future.
Does the agency keep part of my commission?
Yes, agencies do take a split of your commission. This is because they provide resources such as training programs, branding, and help you build your business. Depending on the agency, the split can vary, with some being a smaller percentage and others taking a bigger split but providing more training and leads. It’s important to consider your situation, such as your network and need for training, when choosing an agency.
Can I do real estate part-time?
Yes, you can definitely do real estate part-time! Most firms will allow you to come in as a part-time agent, but it’s important to discuss your situation with the broker and work out a plan that fits your schedule. You’ll need to ensure that you can still get the necessary training and support to achieve your goals in real estate while working your full-time job. Look for a brokerage that offers flexible training options, like online or on-demand training, to help you balance your schedule.