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In my never-ending quest for some sort of career or way to escape retail conditions, I stumbled across an ad in my hometown for realtors. They offer training but the position is 100% commission.
Now, I understand that that really sucks. But what I'm asking you is if you have had any experience with job postings like this? I emailed the person expressing interest, but I'm a little concerned it could be a scam of some kind. Are there really 100% commission realtor positions out there that are legitimate?
I'm really unfamiliar with real estate, but I've been kind-of/sort-of gaining interest in it as I get older and actually look around for houses I'd like to buy someday. I wouldn't be doing this for the rest of my life, but it seems that if I could sell a few houses at 100% commission I could make more than I do for $11 an hour in retail.
100% commission? That is fantastic. Most real estate agents have to split the commission with another agent. And after that 50%, have to pay various business expenses, so it might be 25%.
Most real estate positions are 100% commissioned, opposed to hourly. The commission itself would still have a split between agent and Realtor plus whatever office, marketing, etc fees are tacked on.
100% commission? That is fantastic. Most real estate agents have to split the commission with another agent. And after that 50%, have to pay various business expenses, so it might be 25%.
I think he meant that pay was 100% based on sales, not that the agent gets to keep 100%.
Real estate agents, as well as many sales jobs, are commission-only. Commission-only jobs can be a fantastic opportunity for the right person. If you are confident in yourself, are a people-person, a good communicator, self-motivated and somewhat organized, you may want to consider such a position. You can make a lot more money and be on track for becoming a manager or starting your own business. A successful sales career can open a lot of doors.
Real estate agents, as well as many sales jobs, are commission-only. Commission-only jobs can be a fantastic opportunity for the right person. If you are confident in yourself, are a people-person, a good communicator, self-motivated and somewhat organized, you may want to consider such a position. You can make a lot more money and be on track for becoming a manager or starting your own business. A successful sales career can open a lot of doors.
Also with confidence the person needs to be willing and able to handle fluctuations in pay. A good friend is a realtor (and yes it is commission only) and when he closes a deal, the money is coming in all over the place. But in the next week, or 2, if no deal closes, no money is coming in. He has to be willing and able to budget and to understand that one check may be huge, but it needs to pay the bills until the next one. Some people have a hard time dealing with not making a "steady" income.
Realtors who work hard can do very well. But it's hard hanging on waiting for the money to come in. What do you live on while you are developing clientele and trying to sell those first few homes?
If you have ever heard of the 80/20 rule, in real estate sales it is closer to 95/5. A few years ago a friend at a title company let me glance at the list of top real estate closers in the Phoenix area. This was during the boom years and what stood out was that a small handful of agents had the bulk of the sales. The people making money were making a ton of money the other 90% or so were just plugging away with a sale or two a month if lucky.
If you hustle and come up with the right angle it is possible to do very well in real estate. But if all you do is wait for your phone to ring with a friend or two that wants to look at houses, stay in retail. Best bet is to see if one of the busier, more successful agents is looking to add an assistant to their team. The really successful agents often have 1-2 assistants doing the grunt work for a piece of the commission and a chance to learn how to sell a house..
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