Real estate agents work as intermediaries between home sellers and buyers. They research property prices and help complete the paperwork for offers or purchase agreements. They also send information to lenders needed for a mortgage.
The average agent sells a house about once every two years. However, there are plenty of agents who make six figures or more each year.
Is it Hard to Make a Lot of Money As a Real Estate Agent?
Getting licensed is an expensive process, which can take months or even years to complete. You will also need to invest in marketing and other startup costs before you see any money rolling in.
Commissions are paid to Estate Agents E16 for each sale, with most agents earning about 5% of the home’s sales price. A broker typically splits this with their agents, which can add up to quite a bit of cash.
A flexible schedule is key to being a successful real estate agent. Your clients may want to show homes at night or on weekends, which means you need to be available when they need you.
What are real estate agents doing to make a lot of money?
Build your people skills to develop referrals and business. This is important because customers want someone who knows about the local market and can answer their questions quickly.
Be a great listener to ensure your clients get the answers they need and can trust you to guide them through the process.
Ultimately, what makes or breaks your success as a real estate agent is how you approach your business and what you do to grow it. If you don’t have a strategy and systems in place, you could burn out before you reach your goal of making $100K or multiple six figures.