Originally Posted by LandShark

Hello,

I want to get some advice from the experts before I start school. Please answer these questions:

What is the average commision for a Sales Agent?

Franchises like C21, Coldwell Banker, Prudential may offer between 50% to 60% for new agents (agents do not have to pay anything to the franchise). Some franchises may ask agent to pay a "desk fee" anywhere from $150 - $1200 per month, and you get to keep around 100% of the ommmission.

What is the average yearly earnings for a starting agent?

Depends on the area of town and what is the average price of sales. This is best answered by sayinig if you have lots of riends and a large circle of influence you can have 2-3 the first six months and 7+ the sedond six months. This is all very fluid as there are many many factors involved. Example, are there are alot of houses being bought and sold, how many realtors in your jurisdiction, are you a part timer or do you plan to do it full-time. The figures above assume full-time employment.

How much are you making now?

Succesfull first-year agent in Orlando may make $25K - $30K 1st year. Can double the 2nd year.

How long have you been in the business?

Since 1980 in various capacities. I am not your typical agent because I had a break in service. But good agents have an average of 5-10 years. By far, there are fewer succesful agents than those who fail and give real estate up during the first year.

What is the most you have made in a year?

I know agents that are grossing six figures. Know some ladies who grossed $11 million. But if you are doing by yourself with no other help $90-$110K is average.
To exceed that you need to partner with someone or take on some additional help. Again these averages are not written in stone but hope it gives you an idea. Also, I speaking about Orlando, Florida market where prices will be higher than Amarillo for comparable properties. But be aware than to reach "critical mass" in real estate, you yourself must learn how to invest your profits from commission and invest that in undervalue properties...or pre-construction prices.


What are some references that would be usefull?

You should check http://www.realtor.com and/or your local Realtor Association. Ask the about fees you would neeed to pay to joing the assocdiation to gain access to the multiple listing service (MLS)

How can I use technology to help me be successful?

There are many sites available to help you. For example http://gurunet.net if you want to keep eletronic files for each of your transactions. Also, blank contract forms can be access thu your state association, or you can subscribe to "True Forms" (out of Colorado) and have access to their server's data base, which inclueds Forms from various state. True forms allows you to e-mail contract, agent employment agreements, and offers to your clients and to other agents.

Websites allows you to retrieve leads from people who visit your website. Good websites are from Ala Mode for around $500.00 (mention by name and they will give $50.) Homes.com is another good with a lot of content. I have a website with each of the above companies (clemmonge.com and orlandoworledrealty.com) With a website you can generate leads, you get name recognition, and it allows you to tie your e-mail, employer, and your listings for easy management.

Your feedback is greatly appreciated!

Thanks, Chris