I'm looking into being a real estate agent in TX, after my enlistment is up in a few years. What was your education for the job like? How is the pay off compared to the work demand? Benefits? How far should i take my education for the job? How stable is it, if buisness is bad can you still stay afloat? Is it a comfortable living for a family of three with spouse making around 35 annually.
To be quite honest, if you looking for a stable income, real estate might not be a good fit. Commission income is not very predictable. I don't know what the fees are in TX as I am licensed in RI, but here are the fees that I pay; $30 per month for MLS, (I paid about $500 total to get my license), $450 per year for board dues, and there are a lot of advertising expenses (overhead) etc. The benefits are that a career in real estate can be one of the most exciting and rewarding fields out there. You have a LOT of freedom and can make your own hours. Every aspect of real estate is fun an exciting to me. Sometimes I feel like I am living the dream. I don't need a steady income though. My commissions come in when a property sells or when I help a buyer find a home. The best way to be in real estate and love real estate is to not think about the commission or the money. If you are focused on the dollar sign and making a certain amount of $$ all time, you are destined to fail. You have to focus on the client at all times, building a successful business (because you will work yourself essentially) and everything else will come- money, reputation, referrals, stability (will come with time and experience)... Its definitely a career that requires patience. Hope this helps.
As a former realtor, I can let you know that almost all commissions are 7% or a minimum of they have been years in the past. We will use your illustration of $10,000. First of all a million/two of it'll bought to the directory dealer, so now we are all the way down to $five,000. You are proper in assuming that the the rest might be divided among the 2 dealers. Maybe she is solely looking to preserve the complete quantity for herself, which particularly would not shock me. So if she can not discover a purchaser herself she is going to arise with excuses to not proportion it with any one else. As for what a realtor does... that is plenty that would possibly not are compatible right here. There are plenty of bills worried equivalent to promoting, indicators, contracts, getting a identify manufacturer to ship you information at the condo... after which there are the hours spent on the workplace, and the hours spent riding men and women round, a few of whom are simply sight seeing and now not particularly fascinated by truthfully shopping some thing. Then there are the hours spent keeping open residences. There is plenty worried and a realtor does not receives a commission a unmarried cent till AFTER the identify clears, the sale closes and the budget are published from escrow. Then out of that $2500 she is going to nonetheless need to pay industry taxes, individual taxes (double the quantity incidentally for the reason that you need to pay your proportion and the companys proportion for the reason that you're an impartial contractor) social safeguard medicare, and malpractice coverage. By the time they get performed there isn't a lot left. Most most likely much less that $900! And now that $900 has to hide all of her bills that she paid out earlier than the condo offered.
