xenofive.us

Question by act1withme_2000: What percentage of the commission do real estate agents get after the broker is paid the commission of a sale?
After the sale of a home, let’s say a real estate company gets 3%. What percentage of that 3% does the agent typically get from the broker if the agent made the sale? This should be answered preferably by an agent, and in California if that makes a difference! What would be an ideal percentage of that 3% for new agents, and when should an agent get a raise?

Best answer:

Answer by Hatlady
That varies greatly by brokerage but not by state. In other words, the state you are in does not affect the amount of money you make.

Some brokerages give the agent 100% (of the 3% commission), but then there are usually lots of fees to pay – desk fees, processing fees, etc. In some cases, these can run $ 1000 a month if you sell a house or not.

Other brokerages give you only 50% (of the 3% commission) and don’t have so many fees. They might charge a technology fee and a MLS membership fee, but it is generally under $ 200 per month. Many of these will step up this percentage at specified sales levels (like if you sell 8 homes a year or more).

Then there are all kinds of arrangements inbetween.

Some brokerages also provide residuals and extra incentives for mentoring and bringing new agents into the brokerage.

Keep in mind that about 80% of people who become real estate agents end up washing out of the business. The overall average of homes sold per year is only 1. That means there are lots of licensed agents out there that are not selling any homes at all.

Contact me through my website if you’d like more information.

Give your answer to this question below!

Question by Latanya: How do new real estate agents make a living?
How do new real estate agents make money during periods they have not sold properties. Do you work 2nd jobs, have someone supporting you? Just curious. I am really interested in starting a career in real estate, but I know during the first few years you don’t sale as much as agents with years of experience. So how DO you make a living off of you real estate career with no sales as a new agent?

Best answer:

Answer by kemperk
consider the less-common types of RE;

commercial
building with business
cemetery
time share
camp grounds

and being an exclusive buyer’s agent

luck

Give your answer to this question below!

Question by Ryan 1: Which real estate companies are best for new agents?
I’m planning on getting my real estate agents license in the next few weeks. I’ve heard that Century 21 and some other companies have their own courses. Is it better to attend their course or just a regular local real estate school. Also what companies are good for new agents.

Any advice you can give is appreciated! Thanks!

Oh and I’ll be getting my license in Tenessee.

Best answer:

Answer by haygirlc
You can take the courses through a state-approved online/correspondence course. In California, it was about $ 150 or so for the basic courses to pass DRE exam. If you are good studying on your own, this is a great way to get through it fast. If you’re better in a classroom environment where you can ask questions, then pursue that option.

I can’t recommend a particular company to hang your license with. You’ll want to research the desk fees, commission splits, what type of new agent training they have available, transaction assistance, etc. There are a lot of not-busy licensed agents right now, so you may be best served finding a small company that will help train you vs. a big name brokerage where you have to pay high fees and no one will speak to you.

Know better? Leave your own answer in the comments!