Helping you find
your place in the world.
We LOVE what we do, and we do it because we LOVE helping people but there is almost always a huge misconception on what we do and how we get paid. It's not a secret so here it is:
As a REALTOR we do not get paid an hourly wage or salary and we only get paid if we sell a home and it closes. We can only get paid from broker to broker. As an agent we could work with someone days, weeks, months, or years with no guarantee of a sale ever.
FIRST & FOREMOST
What it takes to become a successful real estate agent:
• Study and pass the state licensing exam.
• Obtain State License
• Join and pay for your local Realtor Association.
• Join a Brokerage.
• Attend multiple new agent meetings, courses, and
events.
• Pay for and attend Real Estate Agent and
Mentorship programs.
• Pair up with an experienced agent and give them
half of your first couple of closings.
• Create and nurture a relationship with a great
escrow company, lender, and title representative.
• Figure out and focus on your "farm".
• Change brokerages to continue bettering yourself.
• Eventually, become a mentor yourself.
Real Estate Agent Expenses:
Broker Splits and Fees
Office rent and utilities
MLS Dues
NAR dues, we can’t use the term REALTOR without a membership.
State Association dues (CAR) for CA
Local Association Fees (GLAR) for Los Angeles
E&O Business Insurance
Extended Auto Insurance
Self-Employment Tax
State Licensing Fees
Advertising Fees
Showing Service Fees
Website and Managing Website Fees
Assistant's Salaries
Showing partners
Transaction coordinator
Yard signs plus open house signs
Photographers, Videographers, Drone operators
Office Supplies
Business Cards
Marketing material, including flyers, postcards, and memberships/fees to vendors who market and advertise for us.
Manage Social Media accounts or pay someone else to it.
Manage Do Not Call Lists and other regulations.
Electronic Lockboxes
Continued RE Education
Legal Fees
Auto Expenses
Healthcare and Insurance
Income taxes paid quarterly.