Ask a real estate agent that just collected $18,000 in commission on a single...

likme
likme

Ask a real estate agent that just collected $18,000 in commission on a single transaction anything.
I'll never understand why people think day-trading and kissing ivy-league ass is the way to make money.
Having a good personality, a sense of salesmanship and an always on attitude to embracing opportunity are far from memes

It's only $500 to get your license in most states. And it doesn't require a degree.

Playboyize
Playboyize

22 years old here. I have some money saved up but under 5k. How do i get into real estate seriously? Which way is the door?

PackManBrainlure
PackManBrainlure

Ask a real estate agent that just collected $18,000 in commission on a single transaction anything.
What did you have for breakfast and where did you purchase it?

Burnblaze
Burnblaze

Im finishing my degree no matter what plus I'm 20 so I'm young enough to make those choices and stick with it. Though, I'm curious could I be a software engineer full time and be able to do real estate on the side? I've been told that real estate has to take almost all your time but that doesn't sound right to me. Can I still do real estate while being a software engineer?

Emberburn
Emberburn

I meant as an agent.
Buying property is a whole different animal, you really do need five figures or more to see any real return in any market.
If I were you I'd go out and learn your local market and then seek out a few family owned brokerages. If you have any natural charm of sales ability, someone will likely mentor you
Fees are generally deducted from you at big chain/franchise brokerages like ReMax.
The smaller the company, the larger the margins for you, the agent.
Work as an agent for a few years and then become a broker, venture out, and if your book of business is enough, there is no ceiling besides time on making 6-7 figures
Two whole eggs, two cups of coffee and an apple, purchased at ACME

Firespawn
Firespawn

How much do you average in a month?

BlogWobbles
BlogWobbles

People certainty do work part time, at the office I work out of, several agents are stay at home moms, contractors, builders and other professionals. If you want to make it a long term gig you can, but if you only sell one house a year it could be a few hours a week at most.
It's also something you can do seasonally. Brokers don't care so long as you don't cost them more than you bring in.
Depends, Summer/Spring are busiest, some years are better than others. It's been as high as $58,000 and as low as $0 for upwards of three months. You eat what you kill and sometimes there's nothing for you. Lots of guys sell one property and take a loan for a new BMW because they A. want one and B. think it'll generate more business, usually they end up with a shit car payment and a shit car that ages out in two years

Nude_Bikergirl
Nude_Bikergirl

wow

i never want to buy a house

SniperGod
SniperGod

How hard is it to get your license and how much effort did you have to put into learning to actually be competent at it?

The paperwork and bureaucratic side, not the people skills

Emberfire
Emberfire

Just got my license a few weeks ago. The classes aren't hard at all, just annoying (require you to attend in person in Ohio). The licensing exam was a total bitch, though.

Firespawn
Firespawn

anything
Why do you think $18,000 is a lot of money?

SniperGod
SniperGod

What's the cheapest house for sale close to you

fixer upper counts, massive fire or damage doesn't

everyone do this I have to know

BlogWobbles
BlogWobbles

It's not? You must be rich.

CouchChiller
CouchChiller

The number of real estate agents in America is equal to the number of homes that will be sold in a given calendar year

Lol you wut mate.

Tell me what you make in a year, then you can start bragging.

$18k don't mean much when you only get 2 or 3 of those deals a year.

Fuzzy_Logic
Fuzzy_Logic

Come back when you earn $250,000 commissions.
My todger is bigger than yours

CodeBuns
CodeBuns

It's not?
Nope.
Last time I checked, you couldn't buy a decent house for that much, or even a decent car.
So no, not "a lot of money".

Supergrass
Supergrass

This is the cheapest one near me.

I wish I was joking...

WebTool
WebTool

Nice job bro. Don't listen to the jealous fags on here pretending like $18K isn't a lot. Most of them don't make that in 6 months.

I'm in sales also (insurance), and for the past 6 months I've looking for multifamily real estate properties in my state (TN), I already got pre approved for a 1.3m loan with 90% financing (by leveraging an office building I own). I put in a couple offers last week.

I have a question. On one of the properties I really want, I made an offer of $1,935,000. Immediately I get a call from the sellers agent (I went direct to them) saying the owner got a 2.4m offer with 20% owner financing. I hung up then called back with 2.0m and 10% financing, then went up to 2.15m and 10% financing (my absolute top offer on this property), that was Wednesday and I haven't heard anything, the realtor said she'll let me know when the owner makes a decision.

Part of me thinks there was no other offer, this realtor is only trying to get a high a purchase price as possible. What do you think?

TreeEater
TreeEater

$18,000 on a single commission is a pretty nice amount if you are able to do it consistently. Even if you sell one house a month for that kind of commission, you will far out-earn most people.

$18,000 by itself does not have an immense amount of purchasing power on a large scale, but as far as earnings as compared to the average earner, you'd have to be stupid do believe it's paltry.

Flameblow
Flameblow

guess it depends on what you mean by "house" -- there's plenty of condos in that zip code.

Dreamworx
Dreamworx

$18,000 on a single commission is a pretty nice amount if you are able to do it consistently. Even if you sell one house a month for that kind of commission, you will far out-earn most people.
Do you think they sell one house a month for that kind of money? OP has given no indication of how commonly he sells houses or of what value. Real estate agents commonly split a 6% commission fee, so if $18k is 3% of the house OP just sold then he just sold a 600k house. My experience with real estate agents tells me they are not generally wealthy people. I would be surprised if a full-time real estate agent makes $50k a year on average. Obviously, given the nature of the work some years may be remarkably better than that while others are much worse.

In all likelihood, assuming OP is telling the truth, this is likely his first big sale or he's on a string of good luck and hopefully he's saving for less fortunate times.

Nude_Bikergirl
Nude_Bikergirl

nice get and about this:
Part of me thinks there was no other offer, this realtor is only trying to get a high a purchase price as possible. What do you think?
youre probably right

Evil_kitten
Evil_kitten

My father is a real estate agent. He started out very slow, not making any sales for quite a few months until he started contacting family and friends about his work. A big key is building a name and image in the community. Some do not put in the effort and therefore do not perform. They don't last long.

Those who DO market and build a reputation for themselves rake in basically free money as long as they're courteous to their clients and not brain-dead. There are many RE companies already established that really help make agents' lives easier.

As well, depending on the local real estate market, it is very plausible to sell one 600k house every month. At least in my area, there are 400k-800k houses being bought and sold constantly.

Besides, even a 5k to 10k commission per month (which is more realistic than 18k) is still strong pay for light work.

idontknow
idontknow

kissing ivy-league ass
Ironic that you're making fun a wage earners who "kiss ass" when you're literally an agent and fiduciary of your clients, making you LEGALLY SUBSERVIENT to them. I guarantee that your tongue is planted far more firmly and deeper up the multitudinous asses of your whiny clients than the average wage earner.

I'm not saying real estate agent is a bad job, but to pretend that you're anything other than a paid butt-licker is disingenuous.

Gigastrength
Gigastrength

Last sold: Dec 1966 for $27,200
$27,200.00 in 1966 had the same buying power as $206,507.87 in 2017
$549,500
Veeky Forums is right about the housing bubble

WebTool
WebTool

Do not become an agent unless you're already well connected.

80% of the sales go to 20% of the agents. Fees will rape you at most agencies and you have to pay monthlies even if you're not selling anything.

The commission lump sums are also misleading. Your agency takes a cut, you pay taxes and it isn't free to sell houses. You have to advertise, drive all over hell's half acre, pay for contracts, office supplies whatever you need. When it's all said and done, that 18k is not even close to 18k. And if you average it over the amount of time it took you to sell the house, it's unimpressive. You don't think people generally list and sell their houses in the same week, do you?

If you know people and have a huge network of upper-middle class people, go ahead. But if you're just some guy who thinks this is going to be your ticket to wealth or an early retirement, keep dreaming.

Sorry to burst your bubble but sellers are absolutely not going to be coming out of the woodwork to list with you. It's far more likely that you'll go your entire first year without selling shit.

And by the way, this is not a 9-5 job. This is an all fucking day and on the weekend's job. From 9-5, when most people are working, you're doing prep work, hours of cold-calling (which, in a lot of places, costs money for the right to even do it because of do not call lists) to drum up new business, advertising, paperwork, etc. When your clients are off work, which is nights and weekends, that's when you have to take them around to see other listings or be at your own listings to show in prospective buyers.

tl;dr It ain't all it's cracked up to be.

LuckyDusty
LuckyDusty

I also forgot to add: If anything goes even slightly wrong, you will take 100% of the blame. A house is, for most people, the single biggest financial transaction of their entire lives.

People are stupid and will go absolutely batshit fucking insane over nothing.

Soft_member
Soft_member

This user is 100% right. Agent for a long time. Its a meme job

Evilember
Evilember

$100 on a single commission is a pretty nice amount if you can do it consistently. Even if you get that amount every minute, you will far out-earn most people.

$100 by itself does not have an immense amount of purchasing power on a large scale, but as far as earnings compared to the average earner, you'd have to be stupid to believe it's paltry.

if
if

Skullbone
Skullbone

But you see, it's pretty plausible to get 18,000 a month in real estate.

SniperGod
SniperGod

Oh yeah.
I know some guy who makes $70,000 a month doing it.
Shit is cash.

TechHater
TechHater

good personality, a sense of salesmanship
where can i get that? can I pay with DOGE coin?

on a serious note, i need both those things, pls halp

DeathDog
DeathDog

That's not how inflation works.

Evilember
Evilember

don't even need a license in the UK... though it isn't necessarily easy - you're either very good at sales or you got lucky

also lots of firms will make you start on rentals or make you start on smaller properties... you don't get a shot at selling the properties that would earn that sort of commission until you've built a reputation in your firm... it is pretty competitive too

CouchChiller
CouchChiller

You Philly?

ZeroReborn
ZeroReborn

take acting classes!

seriously, find some acting classes in your local area and sign up. Not only will it force you to overcome any confidence issues you ought to be able to present yourself better, improve your posture, listen to people better etc.. also acting classes are usually full of women.

lostmypassword
lostmypassword

he could also do crowdfunded real estate, or a REIT with 5k.

Carnalpleasure
Carnalpleasure

Exactly right.

My father was in RE for 40 years. I have friends in RE.

Every fucking person and their mom has a license. And the only way to succeed is to shill your ass off and climb over the hordes of other people all looking for listings.

I do a trade. Every time I'm in someones home I try to create referrals for my partners (bathtubs, counters, wood flooring, etc...) I do it because it's easy and my partners send $ back my way as well. Teamwork.

In 2 years I have not had a single customer that was selling their home that did not already have an agent picked out. Not one. And half of my customers are selling their home.

"Oh thanks but we're already listing it with user our friend"

To the people who slave their way to the top of RE my hat is off to you, but it's a fucked job.

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