Real Estate Agent's LICENSE?

Question

Hi every1,I would like to know is there anything that i need to know when i start to enroll the Real Estate program n do the Exams?PLs help.Also after that i know i would have to work with a Broker for selling houses to get more experience but does any1 know how much they will pay me?Thanks,N.L

Answer 1

Given the state of the housing market right now, you'll have a hard time making money.

Answer 2

You have no choice but to work for a broker, your license is not valid without them.

They will not pay you anything at all.    You will only earn commissions, no "pay".    You will need to pay them for office space as well as pay your own board fees.

Answer 3

It all depends on licensing laws in your state.  

But you work for a broker.  Typically they split commissions.  Of your 3% commission, the broker takes anywhere from 0-50% of it.  The diffierence in what they take is also contigent on what you are willing to pay for and what they will pay for.  ReMax agents keep 100% of their commission, but they pay ReMax $1500/month to hold their license- whether they sell anything or not.  It goes on a sliding scale from there.

But most new agents don't make a single sale for at least 6 months.  You will be paid straight commission only, so you will not only not have any income, you will have expenses to get it going.  Even if you get a contract, you typically don't close for 30 days, then it could still be a while before you get paid.  The title company pays the broker, then the broker pays you.

So if you are looking for a salary- you're looking at the wrong business.