Becoming A Real Estate Agent
Have you been considering going to school to be a real estate agent? Do you wonder what real estate agents do? Are you intrigued with the amount of money a real estate agent makes? If becoming a real estate agent tickles your fancy you should look more in depth into the life of a real estate agent.
Qualifications and Wage
What qualifications do you need to have in order to become a real estate agent? You need at least a high school diploma. If you attended college for a few years or graduated from a university your more than qualified. In addition to having a high school diploma you need to be licensed by your state.
Do you watch the show “Million Dollar Listings?” Ever wonder how much a real estate agent makes? The show displays great real estate agents that sell million dollar properties so don’t compare your potential earnings with those real estate agents. As a real estate agent, your income varies and can range from $35,000 to $200,000 a year depending on the amount of homes and properties you actually sale. Since this is such a large earning scale, let’s examine the details more thoroughly.
A larger percentage of real estate agents make less than $74,999 a year. In fact, 21% of real estate agents make less than $10K, 17% make between $10K and $24,999, 11% make $25K-$34,000, 13% of agents make between $35K and $49,999, and 14% make between $50K and $74,999 per year. A very low percentage of real estate agents actually make the big bucks with only 3% of real estate agents making more than $250K a year.
What qualities do real agent agents possess? Real estate agents must be very outgoing, persistent, and persuasive in nature. If you’re still thinking about becoming a real estate agent make sure you’re able to think quickly. In real estate time is money, so important decisions usually have to be made on the spot with little time to think on your feet.
Do you wonder if more males or females actually decide to become real estate agents? If you do keep in mind that out of 394,000 agents surveyed 57% of real estate agents were female compared to 43% which were males.
Real estate agents take pride in client trust. Client trust is everything and helps real estate agents get new leads. About 20% of leads are generated by word of mouth while 19% of prospects come as a result of recommendations from past clients.
The Costs Involved
Marketing costs are crucial in your success as a real estate agent so allocate a portion of your earnings for marketing and advertising. The more a real estate agent earns the more they spend on marketing. Average market costs for real estate agents that make less than $35K a year is an utmost of $2,500 while agents that earn more than $100K spend well over $2,500 every year on marketing expenses.