How much money do real estate agents make? This is a question often asked by people interested in real estate. Real estate agents are paid on commission, which means they get paid the same amount regardless of what it takes to sell the house, so how much money realtors make depends heavily on their skills and experience.
The job of a real estate agent is often misunderstood by those who have never been in the position before. There are many misconceptions about what it’s like to be a real estate agent, and these can sometimes lead people away from this career path.
For example, some people mistake them as the professionals responsible for selling home insurance or knowing what HO6 insurance is. This cannot be farther from what real estate agents do in real life. Learn about some common myths surrounding real estate agent salaries and why they exist.
Myths About Real Estate Agents
Below are the most common myths that surround the career of real estate agents:
Real estate agents make the most money in real estate: This is a myth because real estate agents are not the only ones to make money on real estate. The realtor is paid a percentage of what they sell, but this can be between two and six percent. Real estate brokers also get a commission for selling properties. Therefore, it is not true that real estate agents make the most money in real estate.
They do all the work: This falls in line with realtors doing all the real work. The realtor does all the grunt work, but the real estate agent is in charge of finding and showing potential properties to clients. They also have to keep up with the ever-changing real estate market. In addition to this, they are also responsible for making sure that their clients are happy about their real estate purchases.
They are in charge of the sale: This is true, and realtors have to ensure that they do everything to make sure a client’s property sells quickly. For example, realty agents might offer discounts on commission or other incentives like cutting out some middlemen during negotiations with the seller.
It’s an easy job: This may be true for some people because it can be just as simple as running around with a realtor’s listings or helping them advertise their properties. However, a real estate agent’s job is oftentimes more complicated than this. After all, they are responsible for everything from paperwork to marketing and real estate law.
It doesn’t require any experience: Real estate may seem like an easy job for some people because it doesn’t require much previous work history. However, agents can also spend years on the other side of the desk as buyers before they opt to make a change and become realtors.
Advantages of Being a Real Estate Agent
There are many ways to succeed as a real estate broker, but finding what works for you will take some trial and error. The keys to success are all about ensuring that you have the right attitude and knowledge of how things work in the industry.
For example, knowing what kind of clients want more from their agents or how much time they’re willing to commit will make it easier for you to sell them on your services. You also need to know what kind of technology tools would be best suited for your needs so that selling homes becomes easier than ever before. Below are the advantages of being a real estate agent:
- Real estate agents have the opportunity to work with people every day.
This is an advantage because real estate agents get to be experts in real estate and the people working with them will see their expertise. As a result, real estate agents will build lifelong relationships with their clients and realtors.
- As a realtor, you have the opportunity to work from home.
One of the best things about being a realtor is that many real estate professionals can work remotely or even out of an office in some cases. This can be a big advantage because realtors can work without having to commute and real estate agents who work from home will have the opportunity to set their own hours.
Making a Career in Real Estate
Being a real estate agent is a rewarding and fulfilling career. The real estate industry is undergoing major changes, but it has never been more exciting than now to be in real estate. Maximizing the benefits that this career brings will allow real estate agents to make more money.