Imaging having a flexible career with a $100,000 plus earning potential.
In most states and provinces, a minimum requirement to joining a real estate brokerage as a sales agent is to have already earned a real estate license. In some states, however, a new agent needs to obtain a sponsoring brokerage prior to pursuing a license. Licensing requirements typically involve coursework and passing a state test. (Most states also require that you be a high-school graduate or hold an equivalency diploma.) You can check with your state or province to find the names of licensing schools near you. Some states also require post-licensing coursework immediately after you earn your license; and most states require continuing education throughout your career to keep your license active.
If you're looking for a career that enables you to control your workday and offers a direct correlation between your effort and reward - with unlimited potential on the reward side - real estate sales might be a good fit. It's not easy. But when you surround yourself with other serious professionals you realize an immediate benefit - because you see first-hand the habits and strategies that work and you're motivated to emulate the success you're witnessing.
By becoming a Real Estate Agent, an individual can provide hundreds of different creative options for a person to purchase a home, land, or business and commercial property. The consumer truly benefits because Real Estate Agents are not employees of any particular company or financial institution, but instead have a working relationship with a broad range of companies that serve the public by helping them buy or sell real estate.
But how do you begin a successful real estate career? Start by making sure you have what it takes to succeed (check out this career profile test to determine your best professional qualities).
Commissions on sales are the main source of earnings of real estate agents and brokers. The rate of commission varies according to whatever the agent and broker agree on, the type of property, and its value. The percentage paid on the sale of farm and commercial properties or unimproved land is typically higher than the percentage paid for selling a home.
Commissions may be divided among several agents and brokers. The broker or agent who obtains a listing usually shares the commission with the broker or agent who sells the property and with the firms that employ each of them. Although an agent's share varies greatly from one firm to another, often it is about half of the total amount received by the firm. Agents who both list and sell a property maximize their commission.
Income usually increases as an agent gains experience, but individual motivation, economic conditions, and the type and location of the property affect earnings, too. Sales workers who are active in community organizations and in local real estate associations can broaden their contacts and increase their earnings. A beginner's earnings often are irregular because a few weeks or even months may go by without a sale. Although some brokers allow an agent to draw against future earnings from a special account, the practice is not common with new employees. The beginner, therefore, should have enough money to live for about 6 months or until commissions increase.
By:Kathy Sanders
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