How Much Money Can I Make In This Job?
It’s the question asked by everyone who thinks about entering real estate. They usually ask it first!
Real estate sales licensees most often earn a commission for their efforts. The commission usually represents a percentage of the price at which clients bought or sold the property. Commissions vary from broker to broker, and even among sales licensees within the same broker’s office. Commissions are negotiable, and they may be subject to fees or splits with others involved in the purchase or sale.
Earning a commission is vastly different from earning a paycheck. On commission, the only time you are paid is when a property is sold and money changes hands (a process called “closing the transaction”, or just “a closing”). If no property is sold, and no money changes hands, no commission is earned. Yes, working on the commission has risks.
There Are No Limits … Really!
On the other hand, though, your earning potential is UNLIMITED. That’s why the best sales licensees in real estate boast about six-figure incomes! If you like earning money (and who doesn’t?), you simply need to work smarter or more creatively, or better manage your time, or gain more knowledge and acquire new skills. When you help clients buy and sell more properties, you earn more money. It’s that simple.
The honest truth? In real estate, you’ll be paid exactly what you’re worth. If you want an opportunity to prove you’re worth more than you are currently being paid, a career in real estate supplies that opportunity!
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